In an earlier blog, "The DoL Fiduciary Rule: How does investor comprehension fit in?", I explored both the written and implied requirements in ERISA and the DoL rules related to disclosures and the need to ensure that investors understand.This blog explores the question of ‘how do you know’ that an investor understands?
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It may sound inconceivable, but I recently realized that as an employer and the trustee of my company 401(k) plan, I’m at risk of being sued by plan participants who are unhappy with their returns. I didn’t think this was even possible since I’m not the person responsible for managing the funds under management.