Do you have a well-defined
strategy for your financial
l Yes 39%
l I’m winging it 61%
Practical Fiduciary Practices
Retirement plan committees have a
host of responsibilities—most of them
fiduciary. To help a committee fulfill
its varied, and demanding, fiduciary
roles, advisers can turn to a number of
Jania Stout, practice leader and
co-founder of Fiduciary Plan Advisors,
and moderator of the panel, said her
firm does not, itself, build materials
for committee meetings but looks to
providers, law groups or industry-related articles. Mostly, the same
message can be delivered to all clients,
she said, and advisers do not need to
create their own content.
For plan sponsors lacking internal
staff with investment expertise, a good
foundation to build on is an investment policy statement (IPS), said Jason
Trine, managing director – investment
platform distribution, at Principal.
“Plan sponsor clients don’t have to
have [an IPS], but it is good for laying
the groundwork of what the adviser
and the client are going to do,” he said.
“Some providers, such as Principal,
have model statements plan committees can use.” Trine reiterates that the
FROM LEF T: Thomas E. Clark Jr., partner, the Wagner Law Group; David N. Levine,
principal, Groom Law Group, Chartered; Alison Cooke Mintzer, editor-in-chief, PLANADVISER.