Why You Need A Fiduciary Financial Advisor For Your 401(k).
For most employers, managing their employees’ retirement plan is a tremendous responsibility. That’s why so many companies hire outside advisors when they lack the staff or expertise to put together a qualified 401(k). However, to protect the integrity of your employees’ savings, it’s important to have an advisor with no conflicts of interest in recommending investments. And there’s only one way to ensure that: hire a fiduciary financial advisor. They are required to put the client’s financial interests ahead of their own.
Starting in April of 2017, the Department of Labor will require anyone receiving compensation for providing advice to 401(k) plans to be a fiduciary. This may prevent brokers and dealers from serving as plan advisors.
At Day & Ennis, we are fiduciaries. This is one of the major reasons companies come to us for help in administering their 401(k) plans. They know they can rely on receiving the kind of unbiased advice their plan needs to succeed. We would be happy to talk with you about designing and implementing your 401(k). Please click the button below to download our brochure providing an overview of our 401(k) services.