401k ProAdvisor, a division of Wealth & Pensions Services Group (a registered investsment adviser), has developed the 408b2 Rules Kit, designed to take the burden off plan sponsors of evaluating fee disclosure information they will be receiving from service providers in 2012. The company will help sponsors identify fiduciary breaches, conflicts, cost control issues and highlight areas that need additional fiduciary follow-up. If necessary, 401k ProAdvisor can negotiate fees across service providers to meet the test of reasonable compensation.
“As a fiduciary, the plan sponsor is duty-bound to understand, review and monitor this newly disclosed information,” says William Kring, CFP designee and chief investment officer of Wealth & Pension Services Group, Inc. and founder of 401k ProAdvisor. The company notes that plan sponsors are required under the Employee Retirement Income Security Act (ERISA) to employ outside assistance when needed.
More information is available at http://401kProAdvisor.com.