Working Group – Conflicts of Interest

Working Group – Conflicts of Interest


Conflicts of interest within the U.S. retirement plan community have sparked many lawsuits over the years. Many of the lawsuits raised questions about conflicts of interest among service providers.

In April 2016, the U.S. Department of Labor announced a major addition to ERISA that may radically change segments of the vendor market for investment advice, investment products, and administration services. The so-called “Conflict of Interest” rule will alter many vendors’ service offerings. The rule presents a major challenge for plan sponsors, too.

The experts listed below comprised a working group for the Fiduciary Supply Management Association that was convened by IFLC under the auspices of its Investment Advice Standards Committee that examined how vendors’ and plan sponsors’ compliance systems will need to adjust for the Fiduciary Standard: Conflict of Interest-Investment Advice rule.


FSMA – Working Group

Beau Beaullieu
Senior Partner – CoSource Financial Group, LLC

Pat Byrnes
Chairman of the Board – Actuarial Consultants, Inc.

Eric Endress, CFA
Vice President – CBIZ Retirement Plan Services

Ronald E. Hagan, AIFA®, CFFS
Chairman of the Board – Roland|Criss

John Hetzel, CFA, CFP®, AIFA®
Financial Advisor – Beaird Harris Wealth Management, Inc.

Ken Ingham
President and CEO – Ingham Retirement Group

David Levine, JD
Groom Law Group
(Employee benefits and executive compensation)

Mary Kotzman, AIFA®
Program Director – Fiduciary Supply Management Association

Patrick Shelton, GBA
Managing Partner – Benefit Plans Plus LLC

John Slavic
President – Slavic 401K

Craig Suemori, QKA, QPA, CPC, ERPA, AIFA®
President – SI Group Certified Pension Consultants

Tommy Thomasson
Senior Vice President – Newport Group

Wayne Titus, CPA, PFS, AIFA®
Founding Member – AMDG Financial

Blake Willis, CPA
Partner – July Business Services, Inc.

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