Discretionary Investment Management Services
Fiduciary Advisors, Inc. (“FAI”) offers discretionary investment management services to retirement plans. When engaged in this capacity, FAI becomes a “Named Fiduciary” with respect to the plan. Any fiduciary assumes legal liability to the extent of discretion used. Department of Labor (“DOL”) publications have stated that although an employer is responsible for the selection and subsequent monitoring of an investment manager, the employer is not liable for the individual investment decisions made by the manager. FAI will provide written acknowledgement of our role as a discretionary investment manager under ERISA and will design investment management processes that reduce the employer’s fiduciary risk with respect to other plan management.
FAI provides discretionary investment management to retirement plans with either participant-directed portfolios, such as 401(k), profit sharing or 403(b) plans, or trustee-directed portfolios, such as defined benefit pension plans, cash balance plans or profit sharing plans.
They include, but are not limited to, the following:
- Preparation of Investment Policy Statement
- Investment Management with Quarterly Reporting
- Due Diligence Documentation
- Employee Meetings