Under the new Fiduciary Rule, one-time recommendations, including those regarding rollovers, are subject to fiduciary requirements of prudence and loyalty. Bonnie Treichel, Chief Solutions Officer from Endeavor Retirement discusses the need for plan sponsors to carefully consider their fiduciary responsibilities when implementing unsolicited implied rollovers. She emphasizes the importance of providing clear communication to plan participants about their options and ensuring that any default actions are in the participants’ best interests. Treichel also highlights the potential risks associated with unsolicited implied rollovers and the importance of advisors acting prudently to avoid conflicts of interest. To learn more, click here to read Unsolicited and Implied Rollovers Under the New Fiduciary Rule.