It should not be difficult to provide high quality, cost effective investment advisory and administrative services to retirement plans. However, the proliferation of service providers that are linked to a single “product” often leave the plan Trustees and participants laden with hidden costs and investment options that are not appropriately diversified. Further, what constitutes the assumption of “Fiduciary” responsibility for has become very murky. Legislation and recent case law call into question what service providers retained by the plan Trustees bear fiduciary responsibility.
Plan Trustees serve in a fiduciary capacity and must:
We act as a named fiduciary for our retirement plan clients. We provide investment allocation and advisory services, design the investment plan, enroll the participants, establish the Investment Policy Statement (“IPS”) and supervise fiduciary filings and adherence to ERISA requirements. In addition, we provide education to the participants and are always available to the Trustees for guidance on their plan’s investment options.
We provide full fee disclosure at both the plan and participant level; this eliminates potential liability relating to unreasonable or undisclosed fees.
Please click on the attached link for more information about our retirement plan services: Qualified Plans / 401(k)