Broker Check

Plan Sponsors

Is your advisor a fiduciary to your plan?

If you answered “no,” or if you simply do not know if your advisor is a fiduciary, you’re probably wondering why you should care.

As a plan sponsor, you are a fiduciary to your company’s plan, subject to high standards of conduct and holding important responsibilities set forth by the Employee Retirement Income Security Act (ERISA). Retirement plan advisors are equipped to share the burden and help lessen your fiduciary liability, yet many advisors are not ready or qualified to take on the fiduciary role. At Chartered Financial Services, we are willing to share this fiduciary responsibility with you.

Acting prudently to minimize and control risk in an investment lineup is one of the fiduciary’s central responsibilities under ERISA and requires expertise in a variety of areas. We are able to serve as either a 3(21) investment advisor or 3(38) investment manager for your plan.

As your 3(21) investment advisor, we provide customized investment recommendations while allowing you to ultimately decide which investments to include for plan participants. When serving as your 3(38) investment manager, we have full discretion over the selection, monitoring, and replacement of the investments in your retirement plan, freeing you to focus your time and effort on productive aspects of your business. We accept fiduciary responsibility and adhere to our role of serving solely in the interest of plan participants when serving in both capacities.

Fiduciary oversight – best practices and solutions to help protect the fiduciaries of your plan

Independent investment due diligence – provides you the ability to evaluate, select, and monitor funds without conflict of interest

Comprehensive fee benchmarking and vendor search – allows you to compare how reasonable and competitive your plan is in the marketplace as it relates to cost, services, and investment opportunities

Education – meet ERISA 404(c) requirements with adequate investment education for plan participants

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