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Four ways financial advisers should help retirement plan sponsor clients avoid a DOL audit

Most financial advisers who support the personal planning needs of independent business owners of small- to mid-sized companies are invariably called upon to also help with business advice needs. This frequently includes serving as the financial adviser to the 401(k), defined benefit and other ERISA retirement plans these business owners choose to sponsor for themselves and their employees. Given the relatively smaller size of these plans, small- to mid-sized companies frequently serve as their own plan sponsors in order to keep administrative costs low.

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