Wirehouses allow more fiduciaries to gain retirement business

05/18/2009 | InvestmentNews (free registration)

Wirehouses are increasingly permitting fiduciaries in an effort to gain a bigger share of 401(k) business. "If you won't sign off as a fiduciary, it's a major red flag these days," said Bo Bohanon, a retirement plan manager at Raymond James & Associates. "It means you're putting your own interests ahead of a client's, and that won't sit well with any plan sponsor."

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