Let's define the word Fiduciary. It comes from the Latin word " fiduciary" meaning "trust" and is closely related to faith and fidelity.

While you can delegate certain areas of responsibility, you can't eliminate all of your accountability. (For example, although you don't have to manage the investments personally, you do need to ensure you have a diversified portfolio of investments and see if changes are needed.

 

Your Fiduciary Obligations

1. Demonstrate loyalty to the plan

2.Proceed with prudence

3.Offer a diversity of investment options

4. Act in accordance with plan terms.