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When viewing the more than twenty suits already filed, it is clear that the plaintiff’s bar is attempting to make new law by challenging long standing industry business practice. The trend towards breach of fiduciary duty vs. fraud type litigation clearly raises the bar on plan prudence. It also elevates the standard for intermediary professionalism, but it should drive growth for distinguished retirement plan intermediaries in the mid-market.
Download: Insights02-22-08.doc [1] (57k)Links:
[1] http://www.thecfdd.com/files/insights/Insights02-22-08.doc