Can You Provide Input To A 3(38) Fiduciary?
Contrary to common impressions, nothing in ERISA tells 3(38) Investment Managers not to listen to their customers or the primary advisor. However, most 3(38) fiduciaries currently in the marketplace do seemingly operate in a black box by providing “one-size-fits-all” investment menus. At Fidelis Fiduciary Management, we feel that you and your clients deserve quality interaction with fiduciaries that are picking the investments to support plan participants’ attempt at successful retirement outcomes.
Fidelis Fiduciary Management is an outsourced 3(38) fiduciary solution to whom you can provide meaningful input during the initial construction of each customized investment menu as well as for the life of the relationship. ERISA 3(38) requires us to manage the investment menu and to stand behind it as the sole decision maker, but we believe the best decisions in business and in life are made after carefully considering the available facts.
“Fidelis is your partner, not a product.” SM
David M. Montgomery, CPFA®, AIF®, CRPS®