One of the disclosure required of Advisers by the Department of Labor under ERISA section 408(b)(2) is in regard to the fees and expenses relating to a Plan’s investment options.
Fees and expenses include additional investment disclosures from providers of fiduciary services to an investment contract, product, or entity that holds plan assets and in which the covered plan has a direct equity investment.
An adviser must describe any compensation that will be charged directly against an investment, such as commissions, sales loads, sales charges, deferred sales charges, redemption fees, surrender charges, exchange fees, accounts fees, and purchase fees; and that is not included in the annual operating expenses of the investment contract, product, or entity.