What About You?
Which numbered fiduciary should you be? A good starting point is a clear understanding of each level of fiduciary commitment and how you can fill that role. There is no one-answer-fits-all solution; you need to carefully evaluate your business model, resources and ability to provide the contracted level of service.
Whether or not you are a fiduciary, as an advisor, you can support the plan sponsor in meeting their fiduciary duties by providing investment and education assistance – thus, demonstrating your value for your fees.
Robert M. Kaplan, CFP, CPC, QPA, APA, is vice president and national retirement consultant for ING U.S. In this role, he leverages his 30 years of experience in the retirement industry to help educate a variety of stakeholders on complex regulatory topics, plan design matters, administration and sales strategies. Kaplan is a member of various industry organizations.