ERISA Fiduciary Support for Retirement Plans

Fiduciary advisory services typically range from 20 basis points (0.20% of plan assets) with annual minimums around $20,000 and maximums capped at $100,000 for larger plans. We provide transparent pricing with no hidden revenue-sharing arrangements. Contact us for a custom quote based on your plan size and specific needs.

Three things set us apart: we generate over 90% of our revenue from retirement plans (true specialization, not generalists), we're independently owned with no parent company conflicts or proprietary products to push, and all our advisors act as named fiduciaries (3(21) or 3(38)) from day one.

A 3(21) fiduciary is a co-fiduciary who provides investment advice and recommendations, but you retain final decision-making authority and some liability. A 3(38) investment manager assumes full discretionary authority over investment selection and monitoring, taking on that liability themselves. The 3(38) role provides maximum fiduciary protection for plan sponsors.

Initial plan analysis and fiduciary documentation typically take 30-60 days depending on plan complexity. We begin acting as your named fiduciary immediately upon engagement, providing liability protection from day one. Ongoing services include quarterly investment monitoring and annual plan reviews.

The DOL's Employee Benefits Security Administration may audit your plan to review fiduciary compliance, investment selections, fee arrangements, and participant disclosures. They closed 907 civil investigations in 2022, with 595 leading to monetary results. We act as your point of contact with the DOL and provide all required documentation from your Virtual 401(k) Fiduciary Files.

You can transfer significant fiduciary liability by hiring a 3(38) investment manager for discretionary investment management and a 3(16) plan administrator for plan administration duties. However, plan sponsors retain some fiduciary responsibility for prudently selecting and monitoring these service providers.