Tax Facts

3795 / Who is a fiduciary advisor for purposes of an eligible investment advice arrangement?

A “fiduciary advisor” for purposes of this provision is a person who provides investment advice to the participant or beneficiary and is one of the following:

(1) a Registered Investment Advisor (“RIA”) under the Investment Advisers Act of 1940 or state law in which the fiduciary maintains its principal office and place of business;

(2) a bank or similar financial institution, but only if the advice is provided through a trust department that is subject to periodic examination and review by federal or state banking authorities;

(3) an insurance company qualified to do business under the laws of a state;

Tax Facts Premium Tools
Calculators
100+ calculators specifically designed to help you easily assist clients with specific planning situations and calculations.
Practice Guidance
Designed to help you discover new ways for which to build and maintain client relationships.
Concepts Illustrated
Specifically designed to help you easily assist clients with specific planning situations and calculations.
Tax Facts Archives
Access to the entire library of Tax Facts dating back to 2012 allowing you to look up the exact tax figures from prior years.