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 Sanford, FL
The first thing to consider when looking to find a financial advisor in Sanford, FL: 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 Sanford, Florida
Sanford
Sanford is a city and the county seat of Seminole County, Florida, United States. It is located in Central Florida and its population was 61,051 as of the 2020 census. It is part of the Orlando–Kissimmee–Sanford Metropolitan Statistical Area. Known as the "Historic Waterfront Gateway City", Sanford sits on the southern shore of Lake Monroe at the head of navigation on the St.
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.
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Location
Sanford, FL - Hours
Monday - 9am-5pm
Tuesday - 9am-5pm
Wednesday - 9am-5pm
Thursday - 9am-5pm
Friday - 9am-5pm - Phone/Fax
P | 877-733-9435
F | (980) 500-1531 - Email Us
chad@hollandcapitalgroup.com
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.