Employers carry fiduciary liability when they sponsor a plan for their employees. As your advisor, we also serve as a fiduciary to your plan.
We can serve as a fiduciary either as a consultant under a non-discretionary 3(21) fiduciary status or as a manager under a discretionary 3(38) fiduciary arrangement. We have experience working with a variety of plans (defined contribution, defined benefit, and non-qualified plans).
We understand that employers, or plan sponsors, are more interested in spending time growing their businesses rather than in managing employee benefits.
It’s our commitment to simplify the work of Employers and Trustees. We do this by providing a well-defined and structured service platform to address the responsibilities of plan fiduciaries, along with limiting their time commitment.
In addition to covering their compliance obligations, we work with clients to assure the plan design and investments help both the employer and employees pursue their objectives – this includes providing a meaningful, cost-effective and valued employee benefit.
Some of the services and benefits we provide:
- Collaborate with plan service providers (TPA, Record-keeper, and Custodian)
- Draft Statement of Investment Policy, Fee Policy Statement, and Investment Advisory Agreement
- Evaluate plan investment options
- Conduct enrollment and employee update meetings
- Provide plan sponsors (employers) with notices to distribute to participants when changes are made to the plan
- Educate and assist participants (employees) in planning for their financial future
- Monitor investments, plan the structure, and facilitate changes as called for
- Provide insight and perspective on the economy and financial markets
- Inform employers of any upcoming regulatory issues or changes that may impact their plan
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