Safeguards to Successfully Navigate the Fiduciary Landscape

It is best practice to name an Independent ERISA Fiduciary, choosing a specified entity that will knowingly assume fiduciary responsibility for the administration and operation of the plan.

Advisory Board: Provide knowledge and counsel on firm governance and client best practices

CEFEX Certification: Annual independent assessment of fiduciary investment advisor practices (2010-2016)

Compliance Report: Independent formation and review of SEC compliance program

Organizational Documents: Independent formation and review of governance documents by legal counsel

Disciplinary Information: No reportable legal or disciplinary events material to our integrity

Third Party Custodian or Corporate Trustee: Third parties safekeep and hold plan assets

Withdrawals and Transfers: Plan sponsor must authorize plan withdrawals and transfers

Fiduciary Acknowledgement: Acknowledge in writing our status as a Named Fiduciary

Named Fiduciary: Accept authority to manage plan investment and plan administration

Annual Certification: Enable boards of directors to monitor committee delegation

Duties of Loyalty and Prudence: Protect against service provider conflicts and self-dealing

Exclusive Benefit Rule: Protect against excessive plan fees and investment expenses

Plan Document Rule: Effect operational compliance with plan documentation

Plan Governance Structure: Implement retirement plan committee and best practices

Shared Plan Governance: Recommend and execute plan transactions with approval

Plan Investments: Manage in accordance with investment policy statement criteria

Plan Administration: Manage in accordance with plan document and vendor agreements

Credentialed ERISA Professional: Sheldon M. Geller, Esq., serves plan sponsor directly

Daily: Manage plan operation, respond to emails, provide advice, and monitor service providers

Monthly: Review custodial statements, vendor reports, plan transactions, and communications

Quarterly: Review investment performance, actual plan operation, and fiduciary decisions

Annually: Document service quality, platform capabilities, fees, expenses, and compliance

Triennially: Conduct a formal documented review of marketplace capabilities, services, and fees