With the evolving role of advisory firms in handling increased responsibilities related to fiduciary duties and employee outcomes, a firm’s organizational structure is crucial to allow for optimal results.
Matthew Eickman, national retirement practice leader for Qualified Plan Advisors, said “Before diving into details regarding team composition, we begin with one key philosophy that permeates through the plan advisory relationship: Concern for services available to employees and their potential outcomes should be integrated into the broader fiduciary and advisory relationship.
The nation’s strongest advisory firms reflect plan sponsors’ demand for them to handle significantly more responsibility than a decade ago. We have built an advisory practice that is not only situated to handle those specific responsibilities, but also can weave them together in a way that looks out for employee outcomes.
Many plans are shocked to learn that advisers aren’t already fiduciaries.”