DALBAR and Rosenbaum Law Firm Team Up to Provide 3(38) Training

An important consequence of ERISA fee disclosure regulations is the visibility of fiduciaries who will be required to declare their status in writing after July 1. This fiduciary disclosure will clarify the role advisers play and require adoption of a fiduciary protocol where none exists today.

“As more and more advisers consider entering the 3(38) space, this program can offer them the background that is necessary,” said Ary Rosenbaum of the Rosenbaum Law Firm.

ERISA 3(38) managers act as fiduciaries for retirement plans with responsibility for the discretionary management of all or some portion of plan assets as well as any number of additional services that can be included. Unlike the co-fiduciary role played by today’s typical plan adviser, the 3(38) has the ability to make investment decisions and to relieve the plan sponsor of certain fiduciary responsibilities and liabilities.

The Ultimate 3(38) Solution offers plan advisers a diagnostic tool to identify the hurdles and steps necessary to adopt an effective 3(38) fiduciary protocol. The adviser’s answers to the Ultimate 3(38) Questionnaire produce a plan that identifies whether a fiduciary role is feasible and, if so, makes specific recommendations.

More information is available here.