Broker Check

Fiduciary Services

The Employee Benefits Security Administration (ERISA) requires plan fiduciaries, when selecting and monitoring service providers and plan investments, to act prudently and solely in the interest of the plan’s participants and beneficiaries. The major issue for business owners as the plan fiduciary; do they have sufficient information to enable them to make informed decisions about the services provided, the costs of such services, and are these costs “reasonable”. Under the microscope of reasonableness are the total compensation, both direct and indirect, potential conflicts of interest, and the satisfactory reporting and disclosure of required information.007-compass

At RS Wealth Management, we provide reports, through an independent third party, to help small businesses to gather the appropriate data. This data is used to produce the required reports in order to determine the reasonableness of your company’s retirement plan. After we collect your data, we organize the information to compare your company plan to an appropriate benchmark based on total assets. RS Wealth Management will also provide you with a breakdown on all investments used within your current plan based on a predetermined set of criteria.

Our provided reports will satisfy your requirements under ERISA but they will not make you compliant should your retirement plan fail the “reasonable” standard. In an additional meeting, we would welcome the opportunity to share our services and be considered should your firm decide that changes or replacement of your current plan is required.