For many years, the regulation of the quality of financial advice offered to retirees has been under the provisions of The Employee Retirement Income Security Act of 1974 commonly known as ERISA. Since 1974, no revisions have been made on ERISA to reflect the changes in the retirement saving trends such as the surge in the Individual Retirement Accounts (IRAs). Additionally, since the enactment of the ERISA, the financial sector has experienced a rapid growth in the defined contribution plans. ...