Description
There has been a proliferation of financial professionals helping their clients manage andadvise their "held away" 401(k) accounts. When a financial professional does so, they mayunknowingly become an ERISA Fiduciary. As such, the financial professionals need tofollow ERISA law and the rules set forth by the Department of Labor (DOL). This courseprovides a financial professional everything they need to know about working as an ERISAFiduciary. It covers the fascinating history of ERISA all the way through the changes madeby the Biden Administration. It also covers the duties required by every ERISA Fiduciaryand Best Practices for keeping their firm compliant.
Learning Objectives
1. The financial professional will be able to identify when they must operate as an ERISAFiduciary when working with their client's employer sponsored retirement plans. 2. Thefinancial professional will be able to create their own written prudent process for workingwith "held away" 401(k) accounts by the end of the course. 3. The financial professional willbe able to determine when they need to use a Prohibited Transaction Exemption (PTE) bythe end of the course. 4. The financial professional will be able to modify/create their ownPTE 2020-02 form in compliance with the most recent rules from the Department of Labor(DOL). The 5. The financial professional will be able to describe the changes the BidenAdministration has made to the definition of ERISA covered advice and the ProhibitedTransaction Exemptions (PTEs) by the end of the course.