Fiduciary Liability Alert for Employers – What Can You Do to Reduce Fiduciary Liability?

Your business sponsors a retirement plan.

What can you do to reduce your fiduciary liability?

 

Hiring a third-party fiduciary is quite possibly the best move you can make.

 

When you hire a Registered Investment Advisor to help you select and monitor the plan’s investment options, you go a long way toward lifting the burden of fiduciary responsibility from your shoulders.

 

Many business owners worry about the “wrong” investments migrating into an employer-sponsored retirement plan. An RIA can watch out for this and also provide documentation for the plan’s investment processes, so that you have a record of them being carried out consistently.

 

Are you following the new Department of Labor regulations for fiduciaries?

 

Fiduciaries must now provide a detailed breakdown of plan fees and expenses paid from participant accounts, and abide by updated rules concerning the dissemination of investment instructions to participants.

 

If participant-level fee disclosures aren’t provided to plan participants, then a plan participant or beneficiary may claim a violation of fiduciary duty on the part of the plan sponsor.

 

The bottom line? Now more than ever, retirement plan sponsors need to retain the services of a Registered Investment Advisor. Our firm is experienced, ready to assist you, and focused on the relationship. Call Plan Partners today.

 

 

 

 

 

The information and calculators provided via this Web site are general information, meant to introduce you to our areas of expertise.  Articles, calculators
and other sources of information are not intended to replace the professional advice of a trained financial professional.

Investment advice is offered by Plan Partners, LLC, a Registered Investment Adviser.  Plan Partners, LLC is an Ohio Registered Investment Adviser and accepts clients outside of Ohio based upon applicable state registration regulations and the “de minimus” exception.
We offer you a wide range of services that are designed to help you, such as: a 401k plan, fiduciary and plan administration, a model portfolio and executive compensation in Cleveland, Ohio.

Securities offered through IFS Securities, Member FINRA/MSRB/SIPC, 3414 Peachtree Road NE, Suite 1020, Atlanta, GA 30326, Phone: 404-382-5223. Plan Partners LLC and IFS Securities, Inc. are not affiliated companies. Plan Partners and IFS Securities do not provide tax advice. Any discussion of taxes herein is for informational purposes. You should consult with an attorney or accountant concerning tax and/or legal advice. Investing involves risks, including possible loss of principal. Please consider the investment objectives, risks, charges and expenses of any security carefully before investing.

This communication is strictly intended for individuals residing in the state(s) of: Ohio and Florida. No offers may be made or accepted from any resident outside the specific states referenced.

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