Selecting the Right Advisor for Your Company’s Retirement Plan

Prudent and Practical Steps for Evaluating, Benchmarking and Ensuring Value

Within the human resource profession, it is an understanding that selecting the right person for any job is crucial. This webinar will hope to show that selecting the right Advisor for your company’s retirement plan is deemed just as important. Especially since making a prudent selection is mandated by Federal law (ERISA).

Retirement plan fiduciaries (and others with plan oversight responsibility) have an elevated responsibility when tasked with selecting or evaluating an Advisor. This session will provide you with a background and tools so you and your organization can make educated decisions when involved in an Advisor search or evaluating an existing Advisory relationship.

The session begins by delving into the basics of fiduciary responsibility and the importance of understanding the unique differences of Advisory firms. To provide a historical context to the discussion, North Pier will review the evolution of the qualified plan advice market and provide a frame of reference for the remainder of the webinar. We will touch on how you can assess your organization’s advisory needs before we investigate the distinct cultures and business models that exist among Advisory firms and the resulting trade-offs. We will also discuss and provide the necessary tools to identify and recognize business practices of Advisory firms that are conflicts and that may affect the advice provided to you and your employees.

Finally, we will review plan sponsor best practices your organization may employ in evaluating your plan’s Advisory relationship to ensure that you are receiving the optimal set of Advisory services for your plan at a competitive price.

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