LPL Financial Retirement Partners

The retirement plan market is changing in unprecedented ways, presenting a number of opportunities and challenges for advisors. To manage these complex and complicated issues, employers will need skilled and experienced advisors willing to work with organizations in a fiduciary capacity.

LPL Financial Retirement Partners knows that expertise and experience drives results. Under RPCP, advisors are equipped with a multitude of best practices that help clients navigate a maze of complicated and ever-changing regulatory environment. Plan clients and advisors are facing an evolving regulatory landscape that includes new fee disclosure requirements, a potentially expanding definition of fiduciary, and increased examinations and enforcement by the Department of Labor.

RPCP allows approved advisors to provide investment advice services as a 3(21) fiduciary on a non-discretionary basis. To continue to address evolving demands from advisors and plan sponsor clients, RPCP is also able to support qualified, experienced advisors in providing 3(38) investment manager services. As a 3(38) investment manager, approved advisors have the ability to engage with a plan client to take discretion to manage the fund lineup. 

Investment Advice Fiduciary defined: 3(21)

An ERISA 3(21) Investment Advice Fiduciary is a person who:

  1. Represents or acknowledges fiduciary status, or

  2. Renders individualized advice by making a recommendation pursuant to a written agreement or verbal understanding, or

  3. Directs advice or recommendation to a specific recipient

 

Is deemed to be a fiduciary where such person makes a recommendation relating to:

  1. The advisability of acquiring, holding, disposing of, or exchanging, securities or other investment property, or invested after the securities or other investment property are rolled over, transferred, or distributed from the Plan, or

  2. How investment property should be invested after it is rolled over, transferred or distributed from the Plan, or

  3. The management of investment property, or

  4. Rollovers, transfers or distributions from a Plan, including recommendation as to the amount, form or destination of such rollover

 

Investment manager defined: 3(38)

A 3(38) Investment Manager is an investment advice fiduciary who:

  1. Has the power or discretion to manage, acquire, or dispose of any asset of a plan

  2. Is registered as an investment adviser under the Investment Advisers Act of 1940 or state law; a bank; or an insurance company qualified to perform services under the laws of more than one state

  3. Has acknowledged in writing that he or she is a fiduciary with respect to the plan

© 2019 SUMMIT RETIREMENT PARTNERS, LLC

SUMMIT RETIREMENT PARTNERS

209 West Chatham Street
Apex, NC 27502

919.674.0595  Direct

888.400.5355 Facsimile

855.AIF.401K  Toll Free

summit.retirement@lpl.com

WE PROUDLY SUPPORT

Securities and  advisory services offered  through LPL  Financial, a Registered Investment Advisor, Member FINRA/SIPC.

Investment products, services and fee-based advisory services are only available to residents of:

CA, DE, FL, GA, KY, MD, NC, NJ, NY, PA, & VA.