Fiduciary Services for Businesses
Changing ERISA policies mean more responsibility for Plan Sponsors. Let our fiduciary services work for you.
Plan sponsors have many different responsibilities. One of which is having fiduciary accountability for the selection of retirement plan design and investments. The Employee Retirement Income Security Act of 1974 (ERISA) was created to set minimum standards for pension and health plans as well as providing protection for the participants within those plans. Throughout the years, many amendments have been made to expand the protection and staying up to date with the changing policies and procedures required to appropriately act as a fiduciary is very time consuming. One aspect of ERISA is the designation of two different types of investment fiduciaries, 3(21) and 3(38). These fiduciaries are required to meet the high standards as defined by ERISA through “care, skill, prudence and diligence…”
Let your solution be our fiduciary services powered by CONCERT Wealth Management, Inc.'s Retirement Plan Services and DailyAccess, a Verisight Corporation. Customized service levels allow you to choose the plan that best fits your needs. In addition to the fiduciary services, CONCERT's Capital Management has designed the Encompass portfolio offering several managed models for your participants to choose from.
Managing Dir. of Retirement Plan Services
CONCERT Wealth Management, Inc.
The Plan Sponsor manages the plan with the Investment Advisor providing basic education, consultation and fund screening.
The Plan Sponsor and Investment Advisor collaborate in a co-fiduciary role where the Plan Sponsor retains the bulk of the responsibilities and partial fiduciary liability. The investment advisor provides fund screening, design, governance, education and training, 3(21) investment advice, and web-based tools for the plan sponsor and participants to streamline the ongoing activities of co-managing the plan.
Manage For You
The Plans Sponsor is relieved of fiduciary liability with regards to investment selection and monitoring. The 3(38) CONCERT Investment Manager assumes these responsibilities and can also mitigate additional fiduciary liabilities. The services offered at this level include all items provided in the “Manage Yourself” and “Manage Together” tiers.