DBR Fiduciary Plan Solutions
DBR Fiduciary Plan Solutions
Retirement Plan Sponsors
DBR Fiduciary Plan Solutions specializes in independent consulting for 401(k) and 403(b) defined contribution retirement plans, defined benefit, and non-qualified deferred compensation plans. We provide ERISA 3(21) and discretionary 3(38) investment advisory and fiduciary consulting services in accordance with the Department of Labor’s Best Practice Standards.
Why Consider a Firm That Specializes in Retirement Plan Solutions?
Plan trustees and Retirement Committees that use a dedicated retirement plan advisory firm have a better understanding of their own fiduciary responsibilities, experience improved plan performance, and deliver greater support and financial education to their employees.
We Commit To:
- Serve as a co-fiduciary of your plan in either a 3(21) or 3(38) capacity
- Deliver specialized expertise based on industry best practices
- Perform fiduciary training to mitigate risk and liability
- Assist in reviewing reasonableness of all expenses and fees
- Provide fully independent advice free of the conflicts of interest present in other models
How We Work With Your Organization
Design & Implementation
Plan Design
- Establish long-term goals and objectives of the plan
- Identify and evaluate key plan features
- Assist in mitigating compliance and fiduciary risk to protect trustees
Investment Advisory
- Collaboratively establish, maintain, and review the plan's guiding Investment Policy Statement (IPS)
- Perform detailed investment research and due diligence
- Evaluate, recommend, and monitor the plan's investment options for compliance with IPS
- Review reasonableness of all investment expenses and fees
- Deliver regular investment monitoring and reporting
Fiduciary Best Practices
- Perform fiduciary assessment to identify plan’s adherence to DOL, ERISA, and industry best practice standards
- Assessment consists of three phases: evaluation, recommendation, and implementation
- Present written reports to support fiduciary compliance in case of DOL audit
Ongoing Guidance & Support
Participant Education & Engagement
- Group financial education for participants
- One-on-one participant guidance
- Annual updates to plan changes and new hire enrollments
Service Provider Management
- Identify plan services and products for fiduciaries
- Lead process to select, monitor, and replace service providers
- Conduct RFP due diligence
- Benchmark the reasonableness of outside service provider fees
High-Touch Support
- Act as extension of HR team
- Support plan administration and operations
- Coordinate integration of mergers and acquisitions
How We Work With Your Organization
Differentiating Characteristics of an Independent, Fiduciary Advisory Practice
Conflict-Free and Customized Fiduciary Expertise
- Avoid conflicts of interest that may be present in other models by remaining fully independent, establishing transparent fees for service, and always placing client interests first
- Research and recommend well-vetted investment options to retirement plan clients within the guidelines of the plan’s IPS
- Contract as a co-fiduciary, accepting liability in writing for our advice
- Assist trustees and Retirement Committees to develop fiduciary processes that are definable, measurable, and repeatable
- Extensive operational expertise to assist in implementing best practices for plan delivery
- Implement custom risk-based models to support participant asset allocation and investment selection
- Provide comprehensive administrative service and support