Business Retirement Plans

The Employee Retirement Income Security Act of 1974 (ERISA) imposes significant fiduciary responsibilities on plan sponsors and plan trustees. The plan sponsor is held to the “prudent expert” standard of conduct. Neither ERISA nor the Department of Labor articulates any “safe harbor” protection against fiduciary liability. The plan sponsor and trustees are simply always required to act in the best interest of plan participants.

ParenteBeard Wealth Management is an independent Registered Investment Advisory firm that is also held to the highest standards of fiduciary responsibility. As an independent firm, our fees are transparent within the management of the retirement plan. We do not have ownership in financial providers of products and we do not accept any referral fees or cash compensation for financial products that we recommend. In addition, our Family Wealth Guardians must be proactive in the disclosure of conflicts of interest.

Our Family Wealth Guardians understand the critical nature of having a well-defined fiduciary process in place. Our extensive background provides us with a comprehensive understanding of the fiduciary responsibilities to which the retirement plan trustee is held accountable under ERISA. Our Family Wealth Guardians are highly engaged with your employees helping to extend the family oriented culture of your business. We keep close watch over the investments, monitor risks, and recommend a well-thought-out retirement plan solution.

Our retirement plan services support trustee directed and participant directed plans. We can provide an integrated solution with a third-party administrator, custodian and a record keeper as a turnkey approach to help trustees implement and maintain a participant-directed plan with the highest standards of fiduciary responsibility. This is not only prudent for a trustee’s own protection against a breach of fiduciary liability, but it can also help the trustee’s achieve their goal of enhancing the retirement outcome for plan participants.

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