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ERISA 3(21) Fiduciary Advisor
As a member of the LPL Financial Retirement Plan Consulting Program, Clarke Chase is approved as an ERISA 3(21) fiduciary advisor. This fiduciary designation requires that the advisor’s interests must always be aligned with the interests of the plan and its participants.
At Chase Dominion Advisors, we’re passionate about helping you provide an effective retirement plan to your employees. As ERISA 3(21) fiduciary advisors, we adhere to a high standard of fiduciary excellence as we assist you with:
Assist in the preparation or review of the Plan’s investment policy statement (“IPS”). Act as your liaison, working with service providers, product sponsors or vendors. In such cases, we act only in accordance with your instructions on investment or Plan administration matters and shall not exercise judgment or discretion.
Perform ongoing monitoring of investment manager(s) or investments in relation to the criteria specified in the Plan’s IPS or other written guidelines you have provided.
Recommend, for your consideration and selection, 1) specific investments to be held by the Plan, or in the case of a participant-directed defined contribution plan, to be made available as investment options under the Plan; and 2) investment replacements if an existing investment is determined by the Plan Sponsor to no longer be suitable as an investment option.
Prepare reports describing the performance of Plan investment manager(s) or investments, as well as comparing the performance to appropriate benchmarks.
Provide training for the members of the Plan Committee with regard to their service on the Committee, including education and consulting with respect to fiduciary responsibilities.
At your direction, we can assist you in making changes to investment options under the Plan. However, we may not take discretion regarding the changes to be made, and any related trades must be executed by the custodian or a party other than IAR.
As part of our Ongoing Investment Recommendation Service, we can assist you in identifying investment options in connection with the “broad range” requirement of ERISA 404(c).
As part of our Ongoing Investment Recommendation Service, we can assist you in identifying an investment fund product or model portfolio in connection with the definition of a “Qualified Default Investment Alternative” (“QDIA”) under ERISA.
Learn more about Plan Sponsor Services: