Who can be a co-fiduciary?

ERISA holds Plans Sponsors to an "expert" (rather than a "reasonable") standard of care with regard to overseeing a retirement plan’s investments. ERISA only allows this oversight to be "delegated"–in whole, or in part–to a bank, insurance company or Registered Investment Advisor (RIA) – and further requires that the delegated duty be accepted in writing. As the retirement plan marketplace has grown in complexity, plan sponsors have recognized the value in delegating some of that duty to "independent" investment advisors. To retain their independence the best RIA’s provide their services in a fee-only manner and thus accept no 12b-1’s, commissions or any other form of compensation from investment companies.

ACG is a fee-only RIA. As such, our interests are closely aligned with those of our clients.

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How to Delegate Fiduciary Liability for Investment Oversight

A Checklist: Will your Investment Consultant Take-on your Fiduciary Liability?