Sara Crovitz is now discussing the Investment Adviser Interpretive Release. She notes the IA release applies to all clients, both retail and institutional. The scope of the fiduciary relationship can be shaped by the agreement between the customer and adviser. She mentions that the adviser could not waive its fiduciary duties, regardless of sophistication of the customer.
George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.