Customized investment and consulting solutions to you meet your fiduciary duties.
We can either help you establish a new plan or begin collaborating with you immediately within your existing platform. As advisers to the plan, we can either serve as an ERISA 3(38) where we take on the full fiduciary responsibility of all investment decisions in the plan or as an ERISA 3(21) co-fiduciary sharing joint fiduciary responsibilities with your team as we advise you in the selection and monitoring of investments.
- Total fiduciary management and reporting 3 (38)
- Shared fiduciary partnerships 3 (21)
- All investment research, recommendations, and ongoing monitoring to ensure plan is compliant and consistent with the IPS
- Detailed documentation to meet fiduciary and regulatory obligations
- Employee and employer education program
As a plan sponsor, you are responsible for overseeing the overall investment strategy. This includes the fees associated with the investments, selection of the asset allocation structure, the development of the details of the strategy, the implementation of the strategy with appropriate Investment Managers and other service providers, and monitoring the strategy on an ongoing basis. At a minimum, there should be an annual audit and reporting of this process to identify any gaps in the plan and or processes. A fiduciary audit is a formalized and documented method for ensuring you are meeting your responsibilities. Hiring an external firm to assist you in this process gives you an unbiased and objective snapshot of your plan. It also tells regulators you are serious about your commitment to fulfilling your fiduciary duties.
SVIC will do a deep dive into your plan and provide you with the necessary data to ensure your plan is consistent with your internal documentation as well as demonstrating how your plan matches up to external plans of similar size and scope.
- Education and documentation on the risks, rewards, fees, and compliance associated with the current plan
- A documented benchmark of your plan compared to plans of similar size and scope
Investment Policy statements are the business plan for your company’s retirement plan. They are also the written guidelines that create a source of accountability for all internal and external parties involved in the investment process. A well-constructed Investment Policy Statement is not only a best practice; it is the roadmap to helping your organization meet your fiduciary responsibilities in this new arena of heightened regulations. Our specialist will work with you to develop an IPS customized to your unique needs and, most importantly, written in a way that is easily implementable and accountable. It is important that your IPS be tailored to your organization’s needs and capabilities. A boiler plate IPS can potentially create more regulatory and legal challenges than not having a policy at all.
- Detailed interview with key stakeholders in your plan
- Customized IPS based on your goals and capabilities within your organization
- Recommendations on specific investment options and restrictions
A major part of your fiduciary responsibility is staying educated on regulations, best practices, and the current investment landscape. Our CIO, Robert J. Luna, CIMA®, AIF®, a frequent CNBC contributor, heads our educational department. Together, with many internal specialists and external partners, we can develop best-in-class educational solutions for your organization.
As AIF® (Accredited Investment Fiduciaries) designees, we subscribe to 7 foundational criteria that your team should be continually educated on:
- Understand the standards, laws, and provisions associated with your plan
- Diversify assets to specific risk/return profiles
- Prepare investment and update an Investment Policy Statement
- Use “prudent experts” (for example, an Investment Manager) and document due diligence
- Control and account for investment expenses
- Monitor the activities of “prudent experts”
- Avoid prohibited transactions and avoid or manage other conflicts of interest in favor of the portfolio
Our fiduciary education programs can accommodate organizations of any size. For larger corporations, we collaborate with the Wharton School at the University of Pennsylvania to create a one-of- a-kind educational experiences for your investment committees and fiduciary teams. Wharton program costs include all education, materials, and meals. Upon completion, each participant will receive a frameable certificate from the Wharton School documenting his or her participation in the program.
We assist you in navigating the various options from a SEP and, Simple IRAs to 401(k)s, 403(b)s, and 457 plans. We will find the right fit for the current stage of your business. We can also assist in the selection of custodians, money managers, and investment line ups for the plan. This option helps reduce numerous headaches in the future by starting your plan on a solid foundation. Once established, we offer various programs to help maintain a competitive plan and meet your fiduciary responsibilities.
- Customized investment policy statement
- Vendor recommendation(s)
- Initial investment line up
Helping your employees make educated decisions on their retirement is critical your organizations’s success. Studies show employees who feel financially secure are happier and more productive in the workplace. We offer personalized risk scoring and investment education for each employee as well as ongoing newsletters, webcasts, and onsite meetings to keep your employees informed and engaged. This information is all documented for your fiduciary file to demonstrate and document your commitment to education.
- Customized and general investment education
- Personalized risk scoring
- Retirement projections