Independent Fiduciary Plan Review

trust and confidence

Fiduciary - An individual in whom another has placed the utmost trust and confidence to manage and protect property or money.


It is the relationship wherein one person has an obligation to act for another person’s benefit ahead of their own interest.

A “Plan Fiduciary” is an individual or committee who has responsibility for the management and decision making of company retirement plan assets and investments on behalf of the employees. It can become a real challenge for Plan Fiduciaries to know “where the plan stands” even when competent investment advisers are in place. Plan Fiduciaries can lose their grasp or have a partial picture of these responsibilities.

This is when an Independent Fiduciary Plan Review can be beneficial. This in-depth review includes an examination of the plan investment policy statement, the bylaws of the retirement committee and an in-depth analytic benchmarking of both plan investment returns, plan investment fees and investment review monitoring processes.

This proactive exercise will become even more important to Plan Fiduciaries when the 408b2 and 404a3 investment fee disclosure requirements at both the plan sponsor and plan participant level go into effect in April 2012. Not to mention the increased oversight requirements of the Dodd Frank Act.

Finestone Partners has participated in the fi360® training, affiliated with CEFEX (The Centre for Fiduciary Excellence) and both Neil Finestone and Michael Anderson hold the Accredited Investment Fiduciary® (AIF) designation. This commitment requires that the highest standard of integrity and technical expertise be consistently delivered to our clients. Click here for a Self-Assessment of Fiduciary Excellence for Investment Stewards. 

For an Independent Fiduciary Review, we work with the Plan’s trustees and investment committee, who have the legal responsibility for managing investment decisions. We measure how well their organization meets a defined global fiduciary standard of excellence and identify potential liabilities and implement improvements as needed.

Click here to find out how we can help you understand and benefit from the Department of Labor's New 408(b)(2) Rule.