Bank of America Merrill Lynch is launching new defined contribution investment consulting services and financial advisor accreditation aimed at helping its corporate retirement plan sponsor clients manage fiduciary risk.
The consulting services will address defined contribution plans, which include 401(k), ERISA, 403(b), profit sharing and money purchase plans. Through the services, Bank of America will help the plan sponsor with menu design, due diligence and investment option recommendations and working to monitor those investments as a fiduciary.
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