Fiduciary Fundamentals
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their client’s interest ahead of their own.
In terms of retirement planning, fiduciaries are responsible for managing your plan in line with regulatory standards, while seeking the best outcomes for your plan participants.
Importance of Fiduciary Services
A fiduciary approach ensures your plan is managed with the highest degree of care and professionalism. This approach can help mitigate legal risks, promote better investment outcomes, and enhance the overall effectiveness of your retirement plan.
The Value of a 3(38) Investment Manager
Defining a 3(38) Investment Manager
A 3(38) Investment Manager is a specific type of fiduciary defined under the Employee Retirement Income Security Act (ERISA). A 3(38) Investment Manager has the discretionary authority to manage, acquire, or dispose of any asset of a plan.
Advantages of a 3(38) Investment Manager
Hiring a 3(38) Investment Manager transfers significant responsibility and liability for selecting and monitoring investment options from the plan sponsor to the Investment Manager.
This allows you to focus more on your business while being assured that the investments in your plan are being managed by experts.
Our Fiduciary Support
- Proactive Compliance and Risk Mitigation: At Prosperity Financial Group, we navigate the complexities of fiduciary responsibilities, ensuring your plan remains compliant with regulatory changes and mitigating risk.
- Optimized Plan Performance: We consistently monitor and manage your plan's investments, striving to maximize returns and minimize risk in line with your plan's objectives.
- Personalized Service: We provide tailored advice and support, aligning your retirement plan strategy with your business goals and participants' needs.
- Transparency and Communication: We maintain full transparency about fees and investment performance, and provide regular, easy-to-understand updates about your plan's status.
You’re in GOOD Company
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