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Fidelity Investments puts hard numbers on the disgruntlement of 401(k) plan sponsors -- and launches Z shares with ETF-like prices

Advisors are gaining some ground but the crunch of fees and service on plan purveyors gets worse and worse

Author Lisa Shidler August 16, 2013 at 5:32 AM
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Jordan Burgess: This information has been well-received by advisors.

Stephen Winks

Stephen Winks

August 16, 2013 — 7:03 PM

Congratulations to Fidelity for its market leadership.

It just goes to show that the industry is not so insular it can not adapt. With the inconvenient truth of transparency, when it is in the industry’s enlightened best interest to act in the best interest of the investing public, it will adapt.

The professional standing of the advisor is advanced, the broker is aligned with the consumer’s best interest, the plan sponsor does not have to worry about conflicted advice for which it is accountable, plan participants are far better served. A win/win/win/win/win !!!.

Now will the brokerage industry follow for taxable accounts?

SCW


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Mentioned in this article:

Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli

401khelpcenter.com
RIA Publication
Top Executive: Rick Meigs



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