PLANADVISER - September/October 2020 - 12
cover story
Advisers can help
clients assess whether
they're fulfilling their
role as fiduciaries
A
12 | planadviser.com September-October 2020 Art by Arom Ju
THE NEED FOR employers to juggle many priorities,
as is required in these challenging times, seems to
be here to stay-at least for the foreseeable future.
To add to that, a retirement plan's committee still
must fulfill its fiduciary responsibilities.
" Fiduciaries are still fiduciaries, and they need
to make sure that nothing slips through the cracks, "
says President Mark Wetzel of Fiduciary Investment
Advisors LLC in Windsor, Connecticut. " The key is
paying attention to the details. "
Six plan advisers talked about how they help plan
sponsors mind all of the details, and the rest.
The Committee Setup
If a plan committee lacks a charter, an adviser can
help put one together, to set the ground rules for how
that body operates.
" I've talked to many new clients whose committees
have not formally established themselves with
a charter. In many cases, the organization didn't
understand how important the fiduciary responsibility
is, so the committee kind of fell into place, "
says Jake Winegrad, a partner in Moneta Group, in
St. Louis. " We have a charter template to help identify
and solidify a committee, to help the committee
members understand their roles and responsibilities. "
He says that having a charter also helps
a company's senior executives and owners who
are not on the committee understand the seriousness
of the fiduciary responsibility that committee
members have assumed.
Now also may be a good time to review who is
on the committee and its size. Three members-
a human resources (HR) representative, a finance
representative and a senior
executive of
the
company-often works well, says Managing Principal
Michael Montgomery of Montgomery Retirement
Plan Advisors in Tampa, Florida. Sometimes
L
CAREFUL
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PLANADVISER - September/October 2020
Table of Contents for the Digital Edition of PLANADVISER - September/October 2020
A Careful Inspection
2020 PLANADVISER Retirement Plan Adviser Survey
Keeping Clients Safe
Cures for Virtual Meeting Fatigue
Inflation Protection For DC Investors
How to Show Your Worth
Never Too Late
A Return to Rollover Advice
Whether—And How—To Vote Proxies
PLANADVISER - September/October 2020 - Cover1
PLANADVISER - September/October 2020 - Cover2
PLANADVISER - September/October 2020 - 1
PLANADVISER - September/October 2020 - 2
PLANADVISER - September/October 2020 - 3
PLANADVISER - September/October 2020 - 4
PLANADVISER - September/October 2020 - 5
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PLANADVISER - September/October 2020 - 9
PLANADVISER - September/October 2020 - 10
PLANADVISER - September/October 2020 - 11
PLANADVISER - September/October 2020 - A Careful Inspection
PLANADVISER - September/October 2020 - 13
PLANADVISER - September/October 2020 - 14
PLANADVISER - September/October 2020 - 15
PLANADVISER - September/October 2020 - 2020 PLANADVISER Retirement Plan Adviser Survey
PLANADVISER - September/October 2020 - 17
PLANADVISER - September/October 2020 - 18
PLANADVISER - September/October 2020 - 19
PLANADVISER - September/October 2020 - 20
PLANADVISER - September/October 2020 - 21
PLANADVISER - September/October 2020 - 22
PLANADVISER - September/October 2020 - 23
PLANADVISER - September/October 2020 - 24
PLANADVISER - September/October 2020 - 25
PLANADVISER - September/October 2020 - Keeping Clients Safe
PLANADVISER - September/October 2020 - 27
PLANADVISER - September/October 2020 - 28
PLANADVISER - September/October 2020 - 29
PLANADVISER - September/October 2020 - Cures for Virtual Meeting Fatigue
PLANADVISER - September/October 2020 - 31
PLANADVISER - September/October 2020 - 32
PLANADVISER - September/October 2020 - 33
PLANADVISER - September/October 2020 - Inflation Protection For DC Investors
PLANADVISER - September/October 2020 - 35
PLANADVISER - September/October 2020 - How to Show Your Worth
PLANADVISER - September/October 2020 - 37
PLANADVISER - September/October 2020 - Never Too Late
PLANADVISER - September/October 2020 - 39
PLANADVISER - September/October 2020 - 40
PLANADVISER - September/October 2020 - 41
PLANADVISER - September/October 2020 - A Return to Rollover Advice
PLANADVISER - September/October 2020 - Whether—And How—To Vote Proxies
PLANADVISER - September/October 2020 - 44
PLANADVISER - September/October 2020 - Cover3
PLANADVISER - September/October 2020 - Cover4
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