401(k) - Retirement

At Personal Wealth Management, we understand the complex issues and responsibilities that are associated with implementing and maintaining a retirement plan. As a fiduciary, you are held liable to make the best decisions on behalf of your employees. Click here to view our video.

Whether you are management, an investment committee member, or trustee, as an investment steward, you share in the legal responsibility for managing investment decisions.

  • Are you aware of your responsibilities as a plan fiduciary?
  • Does your plan have an investment policy statement?
  • Do you want your plan to comply with ERISA section 404(c)?
  • Do you review your plan on an annual basis?
  • Are you confident that you are providing a well diversified selection of investment choices to your participants?

Courts have ruled that fiduciary responsibilities are equivalent to those of a professional investor and if a fiduciary breaches his or her duties, they may be held personally liable.

The legislation that enforces this fiduciary standard of care is as follows:

ERISA - The Employee Retirement Income Security Act was enacted in 1974 to protect the interests of plan participants and their beneficiaries. Under ERISA, when a plan sponsor is acting as a fiduciary, it must do so in the best interests of plan participants and their beneficiaries.

PPA - The Pension Protection Act of 2006 provides fiduciary relief for plan sponsors who offer the following:

  • Qualified Default Investment Alternatives (QDIA’s)
  • Fund Mapping
  • Prudent Investment

As a fiduciary, consider the following questions:

  • Do you have the investment expertise?
  • Are you feeling pressure from participants?
  • Are you satisfied with the level of participation by eligible employees?
  • Do you know the legal standards fiduciaries are held to?
  • Are there conflicts of interests and self entitlements within your organization? 

Why hire Personal Wealth Management?

  • Highly respected investment management process
  • Independent and unbiased approach
  • Adherence to industry standards
  • Reduction of fiduciary liability
  • Elimination of potential conflicts of interest

Our assessment service covers the following:

  • TPA Evaluation
  • Investment Platform Evaluation
  • Due Diligence Procedures
  • Comprehensive expense analysis
  • Monitoring Discipline

Investment selection

Within an investment platform, our selection process will help you identify the most appropriate funds to ensure your participants have access to a well-diversified menu of investments amongst all asset classes.

In addition, we will help you identify appropriate Qualified Default Investment Alternatives.

If you’re curious to learn more about how our services can help address your concerns, please call today. Contact Jamie Weil or Jim Montalto at (866) 493-8982 or contact us by e-mail at Jamie.weil@rbc.com or James.Montalto@rbc.com