Broker vs. Fiduciary: The differences you must know


For plan sponsors, running a 401(k) plan can be complex and time consuming. Some plan sponsors hire outside advisors to help the plan stay compliant with IRS and ERISA laws. It is crucial to understand the difference between hiring a broker versus hiring a fiduciary. Each has a unique set of regulatory standards governing their behavior which can affect the range and quality of services offered to the plan. Below are a few key differences between brokers and fiduciaries:

Innovative Investment Fiduciaries is a CEFEX Certified fiduciary advisor. We advise on over 60 qualified retirement plans for both for-profit and not-for-profit organizations. For more information about Innovative retirement, contact us here or give us a call at (856)-242-3330.


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