Few Questions to check on:
- Are you acting solely in the interest of the plan participants and the beneficiaries and with the exclusive purpose of providing benefits to them?
- Are you carrying out your duties prudently?
- Do you have an investment policy statement and the minutes from your last investment policy committee meeting?
- Are you following the plan documents (unless inconsistent with ERISA) Are you diversifying plan investments?
- Are you paying only reasonable plan expenses?
- Is your financial advisor a fiduciary and completely fee-only?
- Does your plan provider participate in the industry’s standard practice of revenue sharing?
- Are there 12b-1, sub T/A or finders fees being paid. If so, to whom and for what services?