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- Title
Financial Advisers Can't Overlook the Prudent Investor Rule.
- Authors
Schanzenbach, Max M.; Sitkoff, Robert H.
- Abstract
The article reports on the rule imposed by the U.S. Department of Labor (DOL) which imposes the trust law duty of care or the prudent investor rule under the Employee Retirement Income Security Act (ERISA) on investment advisors of individual retirement account (IRA) owners or to retirement plan beneficiaries. Topics discussed include duties of trustees under the trust law duty of loyalty, and the role of an investment policy statement in sound fiduciary investment practice.
- Subjects
UNITED States; UNITED States. Dept. of Labor; PRUDENT person rule; TRUST companies; TRUSTS &; trustees; EMPLOYEE Retirement Income Security Act of 1974; INDIVIDUAL retirement accounts
- Publication
Journal of Financial Planning, 2016, Vol 29, Issue 8, p28
- ISSN
1040-3981
- Publication type
Article