65% of DOL Audited Plans Paid Fines Averaging $612,477!

Our Fiduciary Process

ORGANIZE
FORMALIZE
IMPLEMENT
MONITOR

“If you don’t know where you are going, any road will get you there.” – Lewis Carroll

 

We begin by obtaining and organizing all relative facts, goals and objectives. Next, we use those facts to research and formalize a solution to meet the requirements, much like an architect designing a building.

 

Not until the structure is agreed upon and fully documented do we begin the process to implement the plan. At this time, we work closely with all involved parties to assure a smooth and successful training and implementation schedule. 

After successful implementation the process of continual monitoring of all aspects of the plan (custodian, TPA, Record Keeper, Education providers and plan investments) is reported to the plan fiduciary committee quarterly. 

 

Our process, developed by the Center for Fiduciary Excellence (CEFEX), in conjunction with the American Institute of Certified Public Accountants (AICPA) and the American Bar Association (ABA), is considered the de facto standard often referenced by legal scholars.



Fiduciary Truth

BE CAREFUL WHO YOU BELIEVE 

Whether you have been provided a “Fiduciary Guarantee” or the plan provider stated you would be relieved of fiduciary liability, or some other promise, the truth is only a court of law can make that determination. 

“Fiduciary Guarantees” often require the inclusion of certain investments that pay the highest revenue sharing to the plan provider. The only guarantee in that scenario is the conflict of interest.



Get Help

HIRE A REAL FIDUCIARY

The Department of Labor (DOL) states that “Lacking that expertise, a fiduciary will want to hire someone with that professional knowledge to carry out the investment and other functions.” 

Our advisors are required to obtain and maintain the Accredited Investment Fiduciary (AIF®) credentials. Many go on to obtain the Professional Plan Consultant (PPC™) among others to further their knowledge. Why these requirements? Anybody can call themselves a fiduciary but an AIF® has the formal training and knowledge to help assure that your plan runs smoothly and operates with fiduciary best practices.

The U.S. Department of Labor (2012, Feb). Meeting your fiduciary duties.



GET IN TOUCH

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CONTACT US

1 (855) 972-9564

info@clear-fs.com

 



DISCLOSURES:

Clear Financial Strategies, LLC is an Independent Registered Investment Advisory Firm currently licensed in FL and IL.

We are eligible to license in any other state as necessary. Our Online Privacy Policy can be viewed here. Our Business Continuation Plan Summary is available here.

© 2018 Clear Financial Strategies, LLC, – All rights reserved

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