Once More Unto the Fiduciary Breach


Andrew Liazos cautioned that, when using revenue sharing for investment management fees, retirement plan fiduciaries should show that this was better for plan participants than choosing a different class of investment (without revenue sharing) and paying the administrative fees directly. Mr. Liazos also considered float income to be a problem “where there is any sort of compensation a service provider is receiving, and there is no record of [float income] being part of [what] plan fiduciaries considered the total aggregate compensation should be.” Read the full article