If a fiduciary feels carrying out legal duties entails a high cost, there is an acceptable strategy for dealing with this, but the fiduciary must execute it before the client signs the contract.
Tag "Andrew Lokenauth"
![401k Plan Sponsor Fiduciary Fears Differ From Retirement Advisers Concerns](https://fiduciarynews.com/wp-content/uploads/2023/01/Money-jinyun-xBuu23uxarU-unsplash-660x395-1-scaled-505x306_c.jpg)
Documentation, due diligence, and other formal compliance matters are critical to reducing the fiduciary liability of 401k plan sponsors. But ultimately, they are responsible for safeguarding the assets of plan participants.