The Role Your Plan’s Advisor Might Play

By Marc McDowell, CRPS®, AIFA®, Director, Bronfman Rothschild Plan Advisors

Is your advisor a fiduciary or a co-fiduciary for your plan? Or, is your advisor refusing to assume any fiduciary role? Is your business liable for your retirement plan’s investment decisions? Is your investment advisor, your plan’s investment manager? These can be confusing points of differentiation, with very different impacts to your organization’s retirement plan.

Individuals or entities who have the authority to make decisions regarding the management or investments of a retirement plan are a fiduciary for the plan, but there are different roles and levels of liability that can be assumed.

Interested in reading about the various kinds of fiduciary advisors?

Tell us a little about yourself to learn more:

  • The difference between fiduciary and co-fiduciary
  • How an investment manager may be appointed as fiduciary
  • How to best consider the differences between investment advisors and investment managers