This Form ADV – Sample Language – Rollover Recommendation is sample language for the Form ADV Part 2A acknowledging an investment adviser firm’s fiduciary status under ERISA and disclosing conflict of interest when recommending investments/proceeds be rolled over from a retirement plan account to an individual retirement (“IRA”) account.
The U.S. Department of Labor requires an investment adviser firm to meet several conditions (including but not limited to acknowledging fiduciary status and disclosing conflicts of interest) in order to rely upon the prohibited transaction exemption known as PTE 2020-02.
This sample language is not a substitute for consulting with an ERISA attorney about your investment adviser’s fiduciary status under ERISA and obtaining an exemption (such as PTE 2020-02) when providing conflict advice to rollover from a retirement plan to an IRA.
Included with Bronze, Silver, Gold and Platinum Annual Packages. Initially posted in April 2021.
DOL Clarifies Fiduciary Advice Exemption for IRA Rollovers – May 9, 2021
Updated Sample WSP/CoE Section – IRA Rollover Recommendations – May 5, 2021
Updated Sample Form – Suitability – Retirement Plan Rollover – Client Acknowledgement – May 5, 2021
OMB Approves Request for DoL Fiduciary Rule Delay – August 31, 2017
DoL Proposes Fiduciary Rule Delay – August 11, 2017
Department of Labor Fiduciary Rule – August FAQs – August 09, 2017
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