Fiduciary

An investment fiduciary is someone who is managing the assets of another person and stands in a special relationship of trust, confidence, and/or legal responsibility.

Anyone who manages, administers, or offers advice about your company’s retirement plan may be defined as a fiduciary under the law, based on the duties they perform. Plan fiduciaries are personally liable for plan management and performance.

The term investment fiduciary applies to three distinct groups:

• Investment Steward - a person who has the legal responsibility for managing investment decisions (including trustees and investment committee members).

• Investment Advisor - A professional who is responsible for managing comprehensive and continuous investment decisions (including wealth managers, financial advisors, trust officers, financial consultants, financial planners, and fiduciary advisors).

• Investment Manager - A professional who has discretion to select specific securities for separate accounts, mutual funds, comingled trusts, and unit trusts. 

Fiduciary responsibilities may be shared among these entities, but the responsibilities may not be abdicated.  A fiduciary is always “on the hook” for responsibilities to the Plan.

Investment Stewards, generally with the assistance of Investment Advisors, have primary responsibility for effective management of the investment process, including faithful adherence to investment fiduciary practices, The Investment Steward is responsible for managing the overall. 

Stonegate’s team of Accredited Investment Fiduciary Analysts® understands the role of the fiduciary and focuses on Fiduciary Assessments for Investment Stewards.

In addition to assessments, we can help you:

• Make sure that you are fulfilling your role, fix any deficiencies, and simplify or even eliminate certain tasks. 
• Manage and document the processes to mitigate your fiduciary risk and comply with all regulations.
• Take control of your plan and the retirement readiness of your employees.

This is how Stonegate's fiduciary consultants can work with you.