Fiduciary Services

Changing Regulatory Environment

As more Americans rely on defined contribution plans (primarily 401(k) and 403(b)) for retirement income, the regulatory environment around these plans becomes stricter and more complex with each passing year. This means that fiduciary compliance will continue to escalate as a concern and challenge for employers.

Fiduciary Management

Longfellow’s prudent fiduciary process and ability to act as an investment advice fiduciary in advisory relationships helps provide plan sponsors with the confidence that they are operating their plan and managing their investment lineup in accordance with ERISA requirements.

Acting as a Fiduciary

Longfellow is willing to accept fiduciary status in relation to investment advice in advisory relationships as opposed to in a strictly broker capacity. The difference between acting as a fiduciary and acting as a broker can be meaningful to employers:

  • Brokerage relationships follow a discipline of suitability. Is my education, or presentation, suitable for someone in a similar situation.
  • A Fiduciary relationship follows the discipline of specific investment recommendations for consideration and selection by the client and is able to support the prudent process that lead to their recommendations.

When you hire Longfellow, you are hiring a firm with a sound process that will be customized to you and your organization. Whether it is capturing committee minutes, drafting efficient agendas, to fiduciary training, Longfellow is committed to helping you preserve the integrity of your plan.