Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Redhawk Brings ERISA Fiduciary Services to IRA Space
As the Department of Labor’s (DOL) fiduciary rule undergoes its first days of implementation, virtually every stakeholder providing retirement investment advice has become an Employee Retirement Income Security Act (ERISA) fiduciary.
To help advisers adapt to this evolving regulatory environment, Redhawk Wealth Advisors has launched FiduciaryShield, a set of tools designed to help advisers meet their fiduciary responsibilities on behalf of individual retirement account (IRA) holders. Redhawk says the package’s development was influenced by the firm’s experience as an ERISA 3(38) fiduciary investment manager servicing qualified retirement plans throughout the United Sates.
“It was a natural for Redhawk to port over the comprehensive fiduciary process we developed for ERISA plans to the wealth management space,” says Redhawk CEO Dan Hunt. “We’ve been serving as an ERISA investment fiduciary for so many years and now advisers can leverage this proven process for their individual IRA clients.”
Marcia Wagner of The Wagner Law Group adds, “As a result of the application of the DOL fiduciary rule, virtually all firms and their advisers will be deemed to be fiduciary investment advisers when advising retirement clients. The use of Redhawk’s fiduciary process may enable investment adviser representatives and registered representatives to provide investment advice to IRA owners without exposing themselves to fiduciary risk.”
Redhawk’s FiduciaryShield is among the wave of fiduciary-focused products which has poured into the industry in response to the DOL’s fiduciary rule. Other providers with recent product launches include Principal Financial Group, Nationwide and PCS.
You Might Also Like:
![](https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2024/08/13135458/PA-081324-DOL-and-IRA-Rollovers-1423829810-web-432x243.jpg)
A Compliant Process for Plan-to-IRA Rollovers
![](https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2024/08/09104859/PAPS-080924-New-Federal-Benefits-Website-1096969570-web-432x243.jpg)
DOL to Launch Revamped Federal Benefits Website
![](https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2024/08/06155658/PSPA-080624-Home-Depot-lawsuit-1215243444-web-432x243.jpg)
11th Circuit Appeals Court Rules With Home Depot on 401(k) Fee Suit
« BMO Offers Data to Help Advisers and Sponsors Benchmark Plans