United States:
How Advisers Serving MEPs And PEPs Can Be Conflicted
18 August 2020
McDermott Will & Emery
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The most obvious potential conflict of interest for advisers
setting up or serving pooled employer plans is if their practice is
affiliated with the investments being selected-but there are other
potential pitfalls to acknowledge.
In a recent article, Erin Turley, a partner with McDermott Will
& Emery, said a potential conflict of interest for advisers to
PEPs would be if they were acting as either a 3(21) or 3(38)
fiduciary to help select investments and were paid from plan
assets.
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