When offering an employer sponsored retirement plan, business owners take on a fiduciary liability on behalf of their employees in regards to selection of the plan, plan administration and investment offerings. While this extra layer of liability can be somewhat burdensome if managed by the employer alone, partnering with a Registered Investment Advisor (RIA) and/or qualified plan administrators can go a long way towards minimizing risk. In short, incorporating fiduciary advisors as part of your company’s retirement plan may reduce the business owner’s risk and help maximize the value and services provided to plan participants.
