Is Your 401(K) Plan Advisor Truly Qualified?

Is Your 401(K) Plan Advisor Truly Qualified?

Regardless of any delegation or third party fiduciary assignments, 401(k) plan sponsors are responsible for selecting and monitoring advisors on a periodic basis. Although it is often overlooked or maybe just not prioritized, ERISA law requires fiduciaries to implement a prudent process for selecting, evaluating and monitoring advisors. Frequently 401(k) plan business is channeled to an existing relationship with a generalist broker who does not have the knowledge, training, or experience of a retirement plan specialist.

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