Fiduciary Care For Retirement Plans
For plan sponsors and employers in need of a fiduciary partner, our team stands ready to assist. We can help you save time by helping to ensure ERISA fiduciary standards are upheld while also helping you support the plan and participants, offering tools and content for retirement planning, budgeting and financial wellness.
For corporate and institutional retirement plan clients, our advisors can act as a 3(21) fiduciary, or through their partnership with Raymond James, can hire the firm as a 3(38) investment manager fiduciary, depending on your preference. A 3(38) investment manager assumes responsibility** of investment selection and monitoring, while a 3(21) non-discretionary fiduciary shares the investment liability for a customized plan, giving plan sponsors and employers the freedom to go in their chosen direction.
Your Fiduciary Options: Who Spends the Time and Takes the Responsibility?
Broker of Record (no fiduciary status*)
Liability
Plan sponsors assume sole liability for plan investments.
Investment selection and monitoring
Plan sponsors remain responsible for making updates to the plan’s investment menu.
Fees for investment fiduciary services
Not applicable, no fiduciary services are rendered.
ERISA 3(21) Investment Advice Fiduciary
Liability
Plan sponsors have ultimate responsibility for selecting and implementing investment options.
Investment selection and monitoring
Plan sponsors receive advice from an investment advice fiduciary but still remain responsible for making updates to the plan’s investment menu.
Fees for investment fiduciary services
Vary based on services contractually agreed upon. Please see advisory contract for available services.
ERISA 3(38) Investment Manager Fiduciary
Liability
Raymond James accepts full responsibility** for the plan’s investment selection and monitoring.
Investment selection and monitoring
Raymond James acts as a fiduciary, will select the investments initially, and make ongoing discretionary updates to the plan’s investment menu.
Fees for investment fiduciary services
All investment fiduciary services are included. Please see advisory contract for services included.
*Not available at Raymond James due to lack of transparency and inability to provide ongoing advice.
**As set forth in, and subject to, applicable agreements.
All investments are subject to risk, including loss. Asset allocation and diversification does not ensure a profit or protect against a loss. There is not assurance that any investment strategy will be successful. Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. To the extent that clients intend to hold these securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. A list of additional considerations, as well as the fee schedule, is available in the firm's Form ADV (Part 2A) as well as the client agreement.
Articles of Interest
