Fiduciary Services
3(38) and 3(21)
Fiduciary Standards in Compliance with ERISA
Our Fiduciary Services help shoulder your fiduciary responsibility. We go beyond the industry standard to offer a full range of 3(21) and 3(38) fiduciary services. As a 3(38), we can take on fiduciary responsibility for participants. We also provide the Investment Policy Statement for the plan, as well as select and monitor the investment options offered.
Whether you’re a plan sponsor, financial advisor, or employer in need of a trusted fiduciary partner, we can save you valuable time by easing the compliance and regulatory burden so that you have more time to focus on the fiduciary responsibilities core to the plan and client success.
Yes, We Offer Indemnification
GuidedChoice is unique in that we can act as a 3(38) as well as 3(21) fiduciary for defined contribution plans. Both offer indemnification for plan sponsors, advisors and our business partners for losses incurred from a breach of GuidedChoice’s fiduciary duty, and the option to use our Managed Solutions as a QDIA and way to meet 404(c) requirements.
Key Benefits of our 3(38) Fiduciary Services
Key Benefits of our 3(21) Fiduciary Services
Assumption of fiduciary liability at a participant level
Full responsibility for selecting investment options for the plan, fully customized to your investment strategy and based on a rigorous process
Full responsibility of the monitoring and review process by our investment team, with the ability to add and remove funds and create watchlists that are closely monitored
Issuing of quarterly fiduciary reports from our investment committee
Quarterly fiduciary reviews
Annual re-optimization
Provides the Plan’s Investment Policy Statement (IPS)
Initial selection with ongoing monitoring of Plan investment options, including investment replacements as needed
Offer outstanding benefits to advisors: they maintain control of the assets without the burden of all of the fiduciary responsibility that can take time away from client engagement and success
Investment strategy and fund recommendations for the plan
Fund replacement suggestions
Continued monitoring and replacement
You maintain control of all plan decisions
Industry-Leading Oversight and Due Diligence
Our investment team follows a rigorous internal process to ensure you have high quality funds to serve a diverse employee base — strictly based on your investment strategy and preferred universe of funds.
All options are thoroughly researched to ensure they meet our exceptional standards, including a full analysis of the underlying funds
So your portfolio is never overweighted with an asset class already accounted for, or underweighted by missing an important asset class. We also help you better manage risk and maximize return by using diversified portfolios across a comprehensive set of asset classes.
A Reputation for Independence and Trust
For nearly 20 years, GuidedChoice has been a preferred fiduciary partner for employers and financial professionals who believe in greater transparency and accountability. As an independent company, our advice is always unbiased and free of conflicts of interest. We also have no proprietary funds to promote, so you can be confident that our recommendations solely work in the best interest of your plan and participants.
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- Get participants into plans quickly
- Provide newfound clarity about personal retirement readiness
- Improve enrollment, savings rates, and financial wellness
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- Provides free asset class guidance & retirement planning support, including outside accounts and savings advice
- Opt-in to managed account for investment-level advice and ongoing account management on plan account
- Can also provide advice on non-plan pre-tax retirement accounts
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- Offers public sector employees free asset class guidance & retirement planning support
- Option for one-time fund level investment advice on both plan and outside accounts
- Designed to improve savings rate, retirement readiness and engagement
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- A personalized QDIA that’s as easy as a target date fund
- With a customizable lineup, this creates a personalized portfolio and glide path for each participant
- 100% default, zero employee engagement required
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- Personalized and actionable advice for participants who have retired or are about to retire
- A tailored decumulation strategy to help employees make their money last
- Advanced scenario planning to help retirees make better and more confident financial decisions
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- Can act as a 3(38) and 3(21) fiduciary
- We ease your compliance and regulatory burden
- Industry-leading oversight and due diligence
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- Essential preparation and motivation for employees
- Personalized assessments and recommendations
- Gives employers a unique picture of their plan and participants