All qualified plans must have fiduciaries who must act in the best interests of the plan participants and their beneficiaries. Which of the following is a breach of fiduciary responsibilities? Select one: a. Making a bad investment based on professional advice and conducting appropriate due diligence. b. Making sure the plan investments are diversified. c. Making decisions in the interest of the plan sponsor. d. Paying for educational seminars that are reasonable in cost and substantiate attendance in a high percentage of presentation sessions.
All qualified plans must have fiduciaries who must act in the best interests of the plan participants and their beneficiaries. Which of the following is a breach of fiduciary responsibilities?
Making a bad investment based on professional advice and conducting appropriate due diligence.
Making sure the plan investments are diversified.
Making decisions in the interest of the plan sponsor.
Paying for educational seminars that are reasonable in cost and substantiate attendance in a high percentage of presentation sessions.
Fiduciary is a person who is a financial advisor serving under fiduciary duty. They are the financial professionals those who have pledged to make financial recommendations in the best interest of the plan participants rather than their own benefit.
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