A recent Stuart Robertson article in Forbes should scare some 401(k) plan fiduciaries. The article's third warning talks about how providers do not share your fiduciary risk.
"And while your rep and provider may have given you a list of funds to select from – and even suggested a few – it’s your responsibility. The very investment expertise the rep is supposed to be providing is really fully on the employer. Bad funds? Your problem. Employee complaints? Your problem."
We agree. If you're a plan sponsor you shouldn't blindly trust your provider. You should get your own information to be sure you're not being put into a fund solely because of the soft dollars they'll pay. You need to know the funds you're in can be trusted. You should share your data with the employees in your plan, too.
Inveska will help.
Post a Comment