With heightened governmental scrutiny and increasing ERISA litigation, fiduciary risk is a growing concern for those with retirement plan responsibilities. Vulnerability often stems from inadequate definition of the legal obligations fiduciaries have to their plan participants, and from inadequate fiduciary procedures.
We believe that by focusing on the interests of plan participants and beneficiaries, we will generate effective and properly designed training, systems and processes for meeting fiduciary requirements, thus resulting in a reduction of fiduciary risk.
Who needs
fiduciary services, and when would one need them? 
Fiduciary services are appropriate and necessary for any organization that offers or has involvement with a retirement plan. Whether introducing fiduciary principles, assessing procedures to detect weakness or seeking to remedy a breach in fiduciary responsibility; proactive management of fiduciary obligations and the procedures is vital for minimizing fiduciary risk.
What services are available?
We believe the most important step in successfully fulfilling fiduciary responsibility is to formally establish and maintain processes and procedures that focus on the interest of the plan participants and are tailored to client organizations’ unique structure, operations and applicable regulations. Our fiduciary service areas include:
- Fiduciary Investigation - A comprehensive, independent analysis of current fiduciary systems and processes designed to verify that the plan and fiduciaries comply with applicable laws and regulations.
- Fiduciary Review - A general review of systems and procedures intended to ensure the plan and fiduciaries comply with applicable laws and regulations. This will help clients immediately recognize, minimize and control potential risk areas.
- Fiduciary Governance and Structuring - The establishment of fiduciary governance systems designed to ensure that plan fiduciary personnel, operations, meetings, policy and procedures properly meet fiduciary obligations.
- Fiduciary Training - We design and facilitate basic and advanced training in fiduciary principles for directors, Boards of Trustees, ERISA and investment fiduciaries. We can also custom design a curriculum for client-specific or plan-specific needs.
Why should I engage Brown
Smith Wallace?
Through the combined resources of professional retirement plan design, audit, financial compliance, investment, administrative and fiduciary experts, our professionals are able to deliver fiduciary services that are tested and thorough.
Our experienced and knowledgeable team, in alliance with nationally recognized partners, delivers cost-effective services focused on the needs of plan participants and beneficiaries.
We provide clients with the foundation for developing, implementing and maintaining an efficient and effective fiduciary system that successfully mitigates fiduciary risk.
What else should I consider?
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