Bringing Structure to Fiduciary Responsibility
Most employers don’t set out to be fiduciaries, they just sponsor a retirement plan. But under ERISA, someone is always the Named Fiduciary — the party legally responsible for how the plan is operated and administered. Fiduciary Wise exists to bring clarity, structure, and documented process to that responsibility.
Act solely in the interest of
plan participants and beneficiaries.
— ERISA §404(a)(1)(A)
The governing standard requires fiduciaries to act with the care, skill, and diligence of a prudent expert, not just good intentions. Most employers were never trained to meet that standard.
We were.
Responsibilities of the Named Fiduciary
Improving ERISA accuracy while reducing the time required to manage it.
Our Framework
Introduction
& Risk Clarity
Documented
Governance
Ongoing
Fiduciary Oversight
Annual Review
& Form 5500
Certification
1. Introduction & Risk Clarity
We begin with a structured conversation to understand your current fiduciary structure, governance practices, and delegation lines.
2. Documented Governance
Substantive and procedural prudence are documented through our Retirement Plan Committee process.
Retirement Committee meetings are held regularly and are designed to:
- Capture fiduciary training
- Document procedure
- Receive written service provider reports
- Identify compliance issues
- Establish a clear plan of action
3. Ongoing Fiduciary Oversight
Oversight is continuous. Through our Fiduciary Oversight process, we do the following:
- Monitor fiduciary obligations
- Track delegated responsibilities
- Proactively identify and prevent fiduciary breeches
- Ensure documentation remains current
4. Annual Review & Form 5500 Certification
The Form 5500 is not just a filing requirement — it is a fiduciary certification. We review, certify, and sign as the Named Fiduciary, closing the annual governance loop with documented compliance.
The Governance Engine
Our Retirement Committee process includes:
Pre-Meeting Preparation
Agenda development, fiduciary training materials, and written reports from service providers.
During the Meeting
Our team helps coordinate with all service providers and the plan sponsor (employer) to ensure your plan is being managed effectively and following the highest standards under ERISA.
Post-Meeting Follow-Through
Fiduciary Wise consistently checks in with service providers and employers to ensure everything is continuing to run smoothly and answer any arising questions.
Who Is This For?
Start with a structured conversation
- If you’re unsure whether you are the Named Fiduciary
- If delegation feels unclear
- If governance feels reactive instead of structured