Clarifying Fiduciary Responsibility for Ascensus-Recordkept Plans

Ascensus serves as a 401(k) recordkeeper and retirement plan platform. While Ascensus provides administrative and recordkeeping services, fiduciary responsibility remains with the plan sponsor and any named fiduciaries, unless formally delegated.

An Ascensus 401(k) fiduciary oversight review is designed for plan sponsors and fiduciaries who want to ensure their roles, responsibilities, and processes are clearly defined, adequately documented, and defensible.

At Holland Capital Management, we focus on fiduciary clarity and process, not provider disruption.

This service may be appropriate if you:

  • Are you a named fiduciary on an Ascensus-based plan
  • Serve on a retirement plan committee
  • Are unsure which parties are acting in a fiduciary capacity
  • Want to reduce fiduciary exposure through better structure and documentation

Understanding Fiduciary Responsibility on the Ascensus Platform

Ascensus provides recordkeeping and administrative services. However:

  • The plan sponsor retains fiduciary responsibility unless duties are formally delegated
  • Investment oversight and fee monitoring remain fiduciary functions
  • Proper documentation and ongoing review are essential

 

Many fiduciary issues arise not from misconduct but from unclear roles or evolving informal processes.

What This Review Covers

This engagement focuses on evaluating fiduciary oversight within an Ascensus-record-kept plan, including:

  • Identification of named fiduciaries and delegated roles
  • Review of service agreements and fiduciary scope
  • Evaluation of investment oversight and monitoring processes
  • Assessment of fee monitoring and benchmarking practices
  • Review of committee structure, governance, and documentation

The objective is fiduciary clarity and defensibility.

Our Fiduciary Approach

Holland Capital Management operates under a fiduciary standard. This means:

  • Guidance is provided in the best interest of the plan and its participants, consistent with our fiduciary obligations
  • Compensation is transparent
  • No proprietary platforms or recordkeeping incentives
  • Process and documentation come before any recommendation

Our role is to help plan fiduciaries understand and strengthen their oversight framework.

Who This Is Typically For

Ascensus fiduciary oversight reviews are commonly used by:

  • Business owners sponsoring Ascensus-based plans
  • Retirement plan committee members
  • Executives with fiduciary responsibility
  • Organizations seeking to strengthen governance and reduce risk

You do not need to change recordkeepers or advisors to engage this service.

What the Process Looks Like

  • Introductory conversation to understand fiduciary structure
  • Review of plan documents, agreements, and disclosures
  • Evaluation of fiduciary roles, oversight processes, and gaps
  • Discussion outlining observations and potential improvements

There is no obligation to implement any recommendation.

How This Fits Into Broader Plan Oversight

Strong fiduciary governance helps:

  • Reduce personal and organizational risk
  • Improve plan defensibility
  • Support consistent decision-making
  • Align responsibilities with regulatory expectations

In many cases, fiduciary improvements can be made without changing platforms or disrupting the plan.

Can Holland Capital Management Help You Achieve Your Goals?  Schedule a complimentary, no-obligation second opinion. 

 

Let’s Talk 

Locations Where Ascensus 401(k) Plan Reviews Are Offered

Holland Capital Management provides Ascensus 401(k) plan reviews to clients in the following cities and regions:

Ascensus 401k Fiduciary Risk

Ascensus 401k Fiduciary Risk Medical Practices

Getting Started

If you oversee an Ascensus-record-kept 401(k) plan and want clarity around fiduciary responsibility, the first step is a brief conversation to determine whether this review is appropriate for your situation.