The harsh truth is that many plan advisors shirk fiduciary duties and merely want to do the bare minimum on their way to collecting their fee.
A vast majority of Americans rely on their employer’s retirement plan and Social Security for their retirement income needs.
Too many plan sponsors assume that the advisor’s responsibilities are limited to recommending and managing investment portfolios.
Hiring a contractually named fiduciary (a 3(38) investment manager) is the best way to eliminate risk and help your employees reach their retirement goals.
Hiring the right retirement plan advisor will not only reduce your risk, but it will also help your employees improve their retirement readiness.
Proactive management of 401(k) plans often results in lower costs, better returns, and ultimately employees not delaying retirement due to lack of savings.