In our experience, most business owners and plan committees don’t really understand what their duties are when it comes to fiduciary services.  Worse yet, many errantly believe that by hiring and monitoring a 3(38) investment manager, they’re out of the investment business. 

The truth is that even with the robust and helpful 3(38) services available, almost all of the time, the business owners are responsible for the investment policies of the plan.  Those policies drive the investment selection and monitoring so when bad policy produces bad results, the business owners are left with the responsibility and the bill.

We’ve got a different way of doing things.

By signing on as the plan’s named Investment Fiduciary in the plan document, we take responsibility for the overall investment policies of the plan, letting you focus on running your business.  As part of our service, we hire and monitor a 3(38) investment manager, so you’ll get the comprehensive fiduciary services you thought you were getting from your current 3(38) without the additional responsibilities.

Taking care of plan sponsors and getting the investments set is only the tip of the iceburg.  The most important part of our role is to help participants stay on the right course, understanding where they are today and how to achieve their retirement goals.  We put the plan participants first, connecting them to the investments that help them achieve their goals.  To us, it’s about more than selecting the right default investment or making model allocations available.  It’s about recognizing when a participant may be surprised by a market correction and taking the time to talk them through it. It’s about noticing an elderly participant is heavily allocated to an aggressive investment and contacting them to discuss their options.  It’s about connecting participants to the right investments at the right time.