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hand pointing to avatars on blue screen Despite the overwhelming majority of plan sponsors relying on advisors to carry out their fiduciary duties, the search process for advisors is often overlooked. (Photo: Shutterstock)

As a 401(k)-plan sponsor, you bear a tremendous amount of fiduciary responsibility, and among those duties, selecting the right plan advisor, is among the most consequential fiduciary decisions. This decision is not only critical to investment outcomes and the security of participants, but as the plan sponsor, a subpar or incongruent advisor relationship and search process could leave you and the organization personally liable to litigation.

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