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Conflicts of Interest

Fiduciary Best Practices

Retirement Plan Consulting

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Who’s Minding The Store?

Joshua P. Itzoe, CFP®, AIF®

One of the most critical building blocks to a successful retirement plan is the fund line-up. Determining exactly which investment options to select, and the process by which a plan sponsor monitors these funds, has a meaningful impact on a participant’s ability to accumulate retirement assets over time. It also helps the plan sponsor fulfill ERISA’s fiduciary mandate to be prudent. Unfortunately, conflicts of interest from service providers can impair a plan sponsor’s ability to make good decisions when undertaking this critically important responsibility.  The easiest way for a plan sponsor to this avoid this issue is to hire a retirement plan specialist to provide objective, conflict-free investment advice to the plan as an ERISA 3(21) or 3(38) fiduciary.

Click on the link below to learn about an 11-year research study suggesting that bias exists when plan sponsors rely on the investment suggestions of retirement plan providers with proprietary mutual funds.

Who’s Minding The Store?