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401K Advisor

Retirement planning has changed dramatically over the years, and one of the biggest areas of development has been in 401(k) plans. Established in 1978, 401(k) plans are named after the section of the tax code that created them. Originally, they were intended to supplement Social Security and traditional pension plans, but over the years since, 401(k) plans have become the primary vehicle for employees to save for retirement.

As 401(k) plans have grown, so has legislation to protect plan participants. Rules were established to make sure participants were treated fairly, that they are offered the best benefits available, and that there are no conflicts of interest with plan sponsors and 401K advisors.

Fiduciary Responsibility

As 401(k) plans evolved, plan sponsors started seeking professional help, both to administer the plans according to government and regulatory standards and help the company manage risks associated with the plan. There are a number of different types of plan advisors that assume part (but not all) of your fiduciary responsibilities and risk. It’s important to remember that plan sponsors always share in the fiduciary responsibility. Different types of plan advisors include:

  • ERISA 3(16) Administrator. This advisor takes the risk of administrative and compliance documentation.
  • ERISA 3(21) Investment Advisor. This advisor shares the fiduciary risk with plan sponsors and can help guide you through the various responsibilities and liabilities.
  • ERISA 3(38) Investment Manager. This advisor takes the risk of selecting investments, monitoring their performance, and replacing them when necessary.

FiduciaryFirst Can Help

FiduciaryFirst has been helping corporations and government agencies manage their fiduciary risk for more than 25 years. FiduciaryFirst relies on the Prudent Fiduciary ProcessSM to efficiently manage your plan and help you work toward the ever-changing regulatory requirements. We help you outsource the fiduciary process while helping you address your goals for your employees and your retirement plan. Contact us today to learn more about our 401K advisor services at 866-625-4611.

Contact Details

1060 Maitland Center Commons

Suite 360

Maitland, FL 32751

Phone: 866-625-4611

Fax: 407-740-6113



Retirement Plan Consulting Program and other advisory services offered through LPL Financial, a registered investment advisor.

This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice.  Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.  In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.


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