Fiduciary Services

Principal Review provides additional fiduciary protection to your plan’s named fiduciary and outside fiduciary advisors by providing specialized services designed to identify and eliminate conflict of interest service structures. We work with your investment advisors to make sure that your employees receive truly impartial advice and recommendations from plan providers, financial advisors and sales agents.

Note: All figures in 2012 dollars. Workers are assumed to begin saving at age 25 and retire at age 67. See Appendix for further details

Employers are (justifiably) concerned about fulfilling the fiduciary responsibilitiesof managing and administering their plans. To deal with these risks, employers often hire plan consultants to serve as co-fiduciaries to help manage services provided directly to plans.

However, plan vendors can engage in a variety of sales practices that can create fiduciary risks not addressed by plan consultants. These practices steer employees to higher priced services and products both inside and outside of the employer-sponsored plan and capitalize on the access to employees and the employees’ trust in plan “representatives.”

Principal Review focuses on the activities that leverage plan vendors’ access to your employees and that create additional fiduciary risk for employers. We support your named fiduciary and plan consultant in performing their fiduciary duties by helping identify practices and provider compensation structures that impact plan participants.

Service team members are paid exclusively through a salary. Period. Their incentives to earn future compensation are not tied to the sale, retention, recommendation or transactions undertaken by employees in the plan. Our fee structure is straightforward and fully disclosed, there are no non-plan related sales structures or incentives attached. We provide the service, generate our fee from that service and ONLY that service.

We partner with you to ensure every employee has access to the unbiased, non-conflicted support necessary to make informed, educated decisions with their hard earned retirement savings.

 
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