Fiduciary Services: 3(16)
Current litigation and regulatory trends prove that ERISA qualified retirement plans are among the greatest sources of legal risks for companies that sponsor those plans and for their financial advisors. To mitigate this risk, BPP is proudly partnered with RolandCriss to offer an outsourced 3(16) Plan Administration Fiduciary Solution under ERISA requirements. RolandCriss fulfills the full scope of a plan sponsor’s fiduciary responsibilities.
RolandCriss’s Fiduciary GRC Solution™ enables plan sponsors to delegate ERISA’s burdensome fiduciary duty to a fully outsourced specialist, and without disrupting a plan’s current vendor relationships. Fiduciary GRC introduces to the ERISA retirement plan community the sophistication of a Sarbanes Oxley governance, risk, and compliance management approach.
What benefits does the 3(16) solution provide?
- Enable advisors to excel in their area of expertise
- Detach advisors from fiduciary risk under ERISA
- Substitute for plan sponsors in their fiduciary role
- Quantify advisor value for their clients
- Isolate advisors from “multiple-hat” risk
What does the 3(16) solution NOT do?
- Upset the advisor/plan sponsor relationship
- Sell any kind of investment advice
- Provide multiple services to plan sponsors
- Engage in conflicts of interest
- Produce compliance assessments without the advisor’s involvement
Please contact sales@bpp401k.com for more information.
