Los Angeles partners Fred Reish and Bruce Ashton’s white paper was the subject of a PLANADVISER article titled, “Defining Reasonable Compensation Is a Team Sport.” “Reasonable Fees Under the DOL’s Conflict of Interest Guidance” is the first in a series of white papers for Fiduciary Benchmarks written by Fred and Bruce.

The white paper analyzes the question, “who has the job of determining whether an adviser’s compensation is reasonable?” Fred and Bruce also discuss determining what type of process can be deemed reliable for defining fee reasonableness under ERISA’s tighter standards and what type of records are satisfactory.

Fred and Bruce note that while advisers will likely have to defend fees if challenged, it is more important that advisers make disclosures, “not warrant that his compensation is reasonable.”

Read “Defining Reasonable Compensation Is a Team Sport.”

Read “Reasonable Fees Under the DOL’s Conflict of Interest Guidance.”

Source: PLANADVISER