One-Time Transactions: Why Aren’t They Already Covered by ERISA

If the Department of Labor's Retirement Security Rule had been enacted, it would have extended ERISA fiduciary duties to one-time investment recommendations like annuity sales and rollovers. Leo Rydzewski, General Counsel for CFP Board, emphasizes that such transactions require trust because advisors are helping clients with crucial life decisions, while Erin Koeppel, Managing Director of Government Relations and Public Policy Counsel at CFP Board, adds that these moments are pivotal for investors, often involving their life savings and a deep trust in their advisors.

Read more at American Society of Pension Professionals and Actuaries