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Independent ERISA Fiduciary

A fiduciary is a person who is charged with the management and operation of a qualified retirement plan. They discharge their duties for the sole purpose of securing (protecting) the future benefits of participants and beneficiaries. An independent fiduciary is a discretionary decision maker for a plan. It is in that capacity that Matthew D. Hutcheson, LLC serves its clients. The company discharges its duties separate and apart from the influence of others, such as service providers, investment managers, or even company officers.

Independent fiduciaries are generally single member firms, unencumbered by the influence and demands of a large corporate structure. An independent fiduciary's loyalty is to the plan participants they serve. Plan sponsors also benefit greatly from independent fiduciaries, being enabled to design and implement a plan, and then have an independent party operate the plan according to its terms permits a plan sponsor to focus on their business. When loyalties are undivided, both the participants and the company benefit. An independent fiduciary is valuable partly because the function offers objective discretion that is useful to all parties concerned.

Independent Retirement Plan Consulting Services

Often, plan sponsors do not want or deem it necessary to appoint an independent fiduciary. In such cases, an employer may choose to hire Matthew D. Hutcheson, LLC as a consultant instead. Often, an employer can receive many of the same benefits as if they had appointed an independent fiduciary, although they retain all day-to-day fiduciary responsibilities instead of delegating those as they would with the appointment of an independent fiduciary. Engaging Matthew D. Hutcheson, LLC in a consulting assignment brings substantial value to a plan by utilizing special insights the principal has gained from being a fiduciary himself.

Fiduciary Training, Audits and Reviews

An employer can enjoy peace of mind by knowing they are doing the right things, the right way. Mr. Matthew D. Hutcheson has himself trained hundreds of employers to be competent, prudent fiduciaries to their plans. He has also performed many fiduciary and economic plan audits or reviews, saving plan participants hundreds of millions in future benefits that would have otherwise slipped away through previously unknown inefficiencies that existed within their plans. Plans substantially benefit from the insights and experience of Mr. Hutcheson the same insights shared with Congressional Committees in both the United States House of Representatives and the Senate.

Due Diligence

Matthew D. Hutcheson, LLC has been retained by a large organization to perform due diligence services on investment advisers that wish to work with the participants in that organization's retirement plan.   The services include determining eligibility to serve as a fiduciary adviser, performing background checks and appropriate vetting, verifying all representations made, and more. 

Would it be valuable to have an independent fiduciary vet those professionals that wish to provide investment advice to your employees?   If so, ask us how we may be of service. 

Feedback

"Yesterday I had the opportunity to listen to Matthew Hutcheson give a two hour presentation to a room full of RSM McGladrey clients in Chicago. This is the second time in six months that I have heard him speak, in two different States. Let me say that there is no question in my mind that Matthew is the preeminent 401(k) and retirement plan leader in the United States. Matthew exemplifies what Jim Collins, in his book "Good to Great" refers to as level five leadership. His ability to convey the most complex matters to an audience of plan sponsors and participants in such a way that kept their intense focus attention and leaving them feeling uplifted and entertained at the same time is simply incredible. I genuinely wish all of you could have been there to see it.

His message is inspiring, uplifting, and educational. It is no wonder some participants traveled great distances for the opportunity to hear him speak. I have already been told by an attendee that they retained and took more away from Matt's presentation than any other seminar on the topic. If you have not had an opportunity to listen to him during a presentation, it would be worth going out of your way to do so."    (Christopher Schmeltz - March 11, 2010.   Posted on LinkedIn.com 401(k) group)

 

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