The fiduciary status of advisors remains unsettled, but it has a significant impact on retirement plans, sponsor liability, claims, conflicts and prohibited transactions, including self-dealing. While non-specialists lack knowledge of the fiduciary duties and responsibilities imposed by ERISA, confusion surrounding the various roles is also common among highly skilled professionals. This confusion underscores the need for clarification of the distinctions between the different fiduciary roles and how those roles impact an advisor's practice as well as the services they render to plan sponsors.