Candidate examination In decidingto obtain the services of outside service providers, the plansponsor should determine the type and scope of services required.(Image: Shutterstock)

A growing number of retirement plan sponsors are recognizing thevalue of retaining a qualified plan advisor and have accordinglylaunched a search.

In fact, one annual survey of plan sponsors found that 38percent of respondents were looking, which is the largestpercentage since the report started. Two of the biggest concerns?Managing fiduciary responsibilities and addressing therisk of litigation and liability. Further, theadvisor's willingness to take on a formal fiduciary role wascritical to 60 percent of respondents.

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