Best Interest Standard of Care for Advisors #98: How PTE 2020-02 Impacts Advice to IRAs
Key Takeaways The DOL’s expanded definition of fiduciary advice to retirement plans, participants, and IRAs was described in the preamble to PTE 2020-02. The PTE then provides relief for conflicted non-discretionary recommendations to retirement investors (for example, rollover recommendations), if its conditions are satisfied. One of the conditions for relief is that a recommendation be […]