Evaluating ERISA Plan Advisors: Part I

While they dwell on the importance of fiduciary standards, none of the lobbyist initiatives mention the extensive knowledge, experience, training, resources and scale required to service ERISA plans. This is an important observation because only a small percentage of the practitioners in any profession reach a high level of competence. Credentials, designations and a mandated fiduciary standard are good things, but they do not qualify an advisor to service ERISA plans.