money jumping from one hand to another One thing will be important for firms to do, whether arollover request leads to a rollover or not. (Photo:Shutterstock)

Broker-dealers can be expected to err on the side of cautionwhen recommending 401(k) rollovers to IRAs when the Securities andExchange Commission's Regulation Best Interest becomes the newstandard of care come July 2020.

“I think firms will come out of the gates very conservatively,”said Jason Roberts, an ERISA attorney and CEO of the PensionResource Institute, a compliance consultancy to financialinstitutions and retirement plan sponsors.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.