Empower 401(k) Fiduciary Risk in Clemmons, NC

Sponsors of Empower 401(k) plans carry fiduciary obligations under ERISA. Recordkeepers do not assume these duties. Some employers hire a third‑party 3(38) investment fiduciary to manage investments; this can shift certain responsibilities, but sponsors still must oversee fees, prudence, and process. A fiduciary review helps protect the organization and its plan committee.

Holland Capital Management in Clemmons, NC

The first thing to consider when looking to find a financial advisor in Clemmons, NC: who are the team members? That’s critical since your financial well-being requires a lot more than just portfolio management. Along with attention to investments, you will likely need other services.

M. Chad Holland CFA, CFP®

About Clemmons, North Carolina

Clemmons

Clemmons is a village in Forsyth County, North Carolina, United States and a suburb of Winston-Salem. The population was 21,177 at the 2020 census, with an estimated population of 21,517 in 2021. Clemmons is located in southwestern Forsyth County. It is bordered to the northeast by the city of Winston-Salem, to the north by the town of Lewisville, and to the southwest, across the Yadkin River, by the town of Bermuda Run in Davie County.

The Problem

Fiduciary responsibility rests with the sponsor, not the recordkeeper.
Third‑party 3(38) arrangements can reduce direct responsibilities but do not eliminate oversight duties.
Without documentation, sponsors remain exposed to fiduciary breach claims.

Why Benchmarking Matters

ERISA requires ongoing monitoring of fees, investments, and services.
Benchmarking creates a documented process evidencing diligence.
Supports risk management and committee governance.

How Holland Capital Helps

Independent fiduciary benchmarking for Empower plans.
Peer comparisons across cost, investments, and services.
Practical steps to fortify governance without disrupting operations.

Our Fiduciary Advantage

Holland Capital Management, led by M. Chad Holland, CFA®, CFP®, is an independent fiduciary advisory firm. We provide objective oversight to protect plan sponsors and strengthen retirement outcomes.

Schedule a no‑cost Empower 401(k) fiduciary risk review.

Schedule a Call

Frequently Asked Questions

+Does the recordkeeper act as a fiduciary?

No. Recordkeepers provide administration and technology; sponsors retain fiduciary responsibility.

+ What does a fiduciary review cover?

Fees, investment lineup, and service arrangements benchmarked against peers with a documented process.

+If we hire a 3(38), are we off the hook?

A 3(38) can assume discretionary investment duties, but sponsors must still select and monitor that provider and oversee overall plan prudence.