3(21) & 3(38) Investment Consulting

Investment recommendations are only reliable if they come from a reputable advisor or firm. As an investment fiduciary, an advisor has a responsibility to ensure that their recommendations are well-informed and well-documented, in order to protect both themselves and their clients.

SevenHills Benefit Partners works with Pensionmark, a respected RIA firm and Broker Dealer with locations throughout the United States, to provide our clients with a thorough investment due diligence process and helpful tools and resources. Additionally, SevenHills Benefit Partners is a CEFEX-Certified Advisor, demonstrating our commitment to following best practices in fiduciary responsibilities.

There are two levels of fiduciary responsibility that an advisor can provide for their clients:

  • 3(21) Investment Fiduciary: The advisor has fiduciary responsibility for the investment recommendations they provide to the plan. The plan sponsor retains final decision-making authority and also acts as an investment fiduciary.
  • 3(38) Investment Fiduciary: The advisor has full decision-making authority over the investments offered within the retirement plan. The plan sponsor does not have fiduciary responsibility for the investments, but they do have fiduciary responsibility for selecting the 3(38) investment manager.

An advisor cannot be both a 3(21) and a 3(38) fiduciary. Instead, the plan sponsor determines the level of fiduciary support they need, and the appropriate level is implemented.

Our Retirement Plan Advisors

 

Tony Black, CPFA, AIF, RPA
Tony Black, CPFA, AIF, RPA

CEFEX-Certified Retirement Plan Advisor


Matt Voecks, CPFA, AIF, RPA
Matt Voecks, CPFA, AIF, RPA

CEFEX-Certified Retirement Plan Advisor

Retirement Services



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