Retirement Plan Management for Small Business
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Fiduciary responsibilities can be complicated but can seem much less so with the help of a qualified professional who can provide you information about your responsibilities and help you to make educated choices for your employees.

To find a qualified professional, use the following checklist.

Choosing professional help: Questions to Ask

  • What is your record of success?
    Ask for examples of how the qualified professional has helped other businesses handle fiduciary aspects of their retirement plans. Ask for references. Find out how the qualified professional plans to help you with fiduciary responsibilities, plan structure, comparing plan providers and selecting and monitoring investment choices.
  • Do you have experience with a broad range of investment choices?
    Choose a qualified professional with experience across many investment categories. Your qualified professional should be able to offer you investment suggestions that include investments from several investment management companies, rather than just one company's investments. This limits conflicts of interest and maximizes investment choice for your employees.
  • How do you get paid?
    Qualified professionals deserve to be compensated for the work they do for you and the plan. They should be willing to explain how - and how much - they will be paid. Some may be fee-based and others are commission-based.
  • What relevant experience or professional certifications do you have?
    Many, but not all, qualified professionals, hold certifications such as Certified Financial Planner (CFP), Certified Pension Consultant (CPC), Certified Public Accountant (CPA), Chartered Financial Planner (ChFP) or attorney at law. Equally important to certification, however, is their experience and knowledge in working with businesses such as yours. Ask for references and specific examples of how they have helped other businesses.

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