Increasing fiduciary duties and liabilities are prompting employers to reconsider who they rely on to guide their retirement plan. Many employers are hiring retirement specialists rather than using a generalist financial planner or going it alone. Below are some considerations for employers as they review their plan and determine how best to provide their retirement plan within their organization.
- A plan without an advisor
- You're on your own! A recordkeeper may provide some services, but you must do the analysis on fees, investment performance, savings rates, rollovers, and look after your own fiduciary responsibilities.
- A plan utilizing a retirement specialist
- Retirement specialists typically have 10+ years of working with hundreds of retirement plans. They can provide guidance on the fiduciary aspects of the plan and work in you and your employees' best interest.
