Providing a retirement plan for your employees comes with certain responsibilities. The role of the plan trustees is to make “prudent expert” decisions for the plan participants. ERISA includes the prudent expert language to demonstrate the elevated responsibility imposed on plan trustees. What this means is the individuals responsible for making decisions for the plan must have the same ability and knowledge as an expert in that field. The investment field is a perfect example.
Companies often lack an individual qualified as an investment expert to make decisions regarding investment policies. These issues include designing an investment policy statement, diversification and asset class coverage, fund selection, and ongoing investment reviews. Insurance and Mutual Fund companies are rarely willing to share these responsibilities. Insurance companies offer group annuity contracts that may contain inflated costs embedded in their funds. Mutual Fund plans offer their own family of funds. They require you to use the funds they select; yet the responsibility for using their funds is still yours.
WealthHarbor recognizes the importance of managing fiduciary responsibility. We are willing to share that responsibility with you when it comes to investment selection. Here is the difference:
- Complete Investment Neutrality
- No Conflict-of-Interest in fund selection
- No Proprietary Funds
- Unlimited Fund Selection Screening Process
- Performance Driven Fund Selection
- Fully- Disclosed Pricing
- Credit Offsets Returned to Your Plan