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We start the oversight process with a strong personal commitment by becoming a fiduciary to your plan, sharing your individual liability that comes with that role. However, real fiduciary risk management comes from operating your plan correctly rather than shifting liability, as no one can relieve the plan sponsor of all fiduciary responsibilities. Montgomery Retirement Plan Advisors assists our clients with establishing and documenting practices designed to support the fact that they have acted prudently as the law requires.
Our Managing Principal is an Accredited Investment Fiduciary® certified by the Center for Fiduciary Studies, which operates in association with the University of Pittsburgh Graduate School of Business. For more information on this program, visit their website.
Periodic plan review meetings by the plan trustees or retirement plan committee are considered an essential fiduciary practice by sponsors of most mid-size to large plans. The investment monitoring and other analysis conducted in preparation for the meeting provides the backbone of the due diligence process, and the meetings themselves establish that the responsible parties have carefully considered this information and made the appropriate decisions. Montgomery Retirement Plan Advisors will quarterback these meetings, conduct the monitoring required and create the documentation.
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We create or upgrade a draft of your plan’s Investment Policy Statement, which we will review with you at least annual and help you update as needed.
As part of the Fiduciary Due Diligence Notebook, every client is provided with a copy of Prudent Practices for Investment Stewards, written by Fi360 and edited by the American Institute of Certified Public Accountants (AICPA).