• Expert Instruction

    Created by fiduciary expert Josh Itzoe with the help of Fred Reish from Faegre Drinker

  • Comprehensive & Self-Paced

    The course takes approximately 3 hours to complete from start to finish. You can finish the course either all at once or in multiple sessions

  • 90+ Lessons

    The course includes over 90 video lessons covering topics like fiduciary status and duties, fiduciary liability, plan administration, investments, fees, vendor selection, litigation lessons, future trends and other best practices

  • 13 Compliance Tips

    You'll learn 13 important compliance tips to help your clients avoid risk and improve process

  • CE Credit

    This program is eligible for 3 hours of CFP® CE credit from the Certified Financial Planner Board of Standards, Inc. and 3 hours of CE credit for Broadridge Fi360 Solutions (includes CE for AIF®, AIFA® and PPC® Designees)

  • Power Up Your Knowledge

    The course includes 10 interactive quizzes and a 20 question final exam to help you develop mastery in each topic area

Why Should You Take This Course?

Whether you're brand new to working with 401(k) and/or 403(b) plans or you're a seasoned veteran, building (or enhancing) a great knowledge base of fiduciary practices and principles is essential.  

I created this course with the help of Fred Reish from Faegre Drinker and we created it to be both comprehensive in scope while actionable in the real world.

It's designed to give financial advisors, TPAs, recordkeepers and auditors an "experts edge" when counseling their clients on retirement plan governance, oversight, and overall successful plan management.  

With over 90 different lessons and 3 hours of content, you'll be in an excellent position to be a "go-to" fiduciary resource for your clients while helping them understand their duties and manage both the corporate and personal liability that has arisen due to increased scrutiny from the Department of Labor and the rapidly growing number of 401(k) and 403(b) lawsuits in the marketplace.

Learning Objectives

This is an intermediate/advanced level course. Upon completion, students will be able to:

  • Understand ERISA fiduciary status, duties and liability

  • Identify the consequences of a fiduciary breach, common fiduciary breach claims and prohibited transactions

  • Understand various aspects of plan management, including plan documents, amendments, non-discrimination testing and testing methods, Form 5500 and participant disclosures

  • Be able to identify and implement a process for choosing investments and understanding fees

  • Know how to select and monitor vendors and service providers

  • Understand DOL and IRS enforcement priorities

  • Learn about “real life” lessons and best practices from landmark ERISA litigation

  • Understand other industry best practices and what emerging trends will shape the future of fiduciary over the next 5-10 years

Course Curriculum

  1. 1

    • Meet Your Instructor

    • Course Overview

    • Disclaimer
  2. 2

    • History and Background

    • Non-ERISA Plans

    • Compliance Tip #1

    • Quiz #1
  3. 3

    • Fiduciary Functions

    • Settlor (Non-Fiduciary) Functions

    • Ministerial Functions

    • Co-Fiduciary Liability

    • Compliance Tip #2

    • Fiduciary Duties – ERISA Section 404(a)

    • A Prudent Fiduciary Process

    • Who Is Generally Not a Fiduciary?

    • Quiz #2
  4. 4

    • Consequences of Breaching Fiduciary Duties

    • Compliance Tip #3

    • Common Fiduciary Breach Claims

    • Prohibited Transactions

    • Section 406(a) – Transactions with “Parties in Interest

    • Parties in interest

    • Section 406(b) – Transactions between Plans and Fiduciaries

    • Compliance Tip #4

    • Consequences of (Non-Exempt) Prohibited Transactions

    • Dispelling the Myths

    • Quiz #3
  5. 5

    • The Plan Document

    • Plan Amendments

    • Individually Designed Plans

    • Pre-Approved Plans

    • Non-Discrimination Testing

    • Compliance Tip #5

    • Form 5500

    • Participant Disclosures

    • Compliance Tip #6

    • Participant Disclosures – Participant Directed Plans

    • 408(b)(2) Disclosures

    • Quiz #4
  6. 6

    • Investment Duties Under ERISA

    • Types of Investment Providers

    • Selection and Monitoring

    • Compliance Tip #7

    • Investment Policy Statements

    • Compliance Tip #8

    • Menu Construction

    • Brokerage Windows

    • 404(c) Protection

    • Delegation to a 3(38) Manager

    • Quiz #5
  7. 7

    • Types of Fees

    • Reasonable Compensation

    • Expense Allocation

    • Compliance Tip #9

    • Share Classes and Revenue Sharing

    • Compliance Tip #10

    • Settlor vs. Administrative Expenses

    • Quiz #6
  8. 8

    • Evaluation Process (and Frequency)

    • 3(16) Administrative Services

    • Quiz #7
  9. 9

    • Fee Litigation

    • DOL and IRS Enforcement Priorities

    • Compliance Tip #11

    • Company Stock

    • Target Date Fund Selection

    • Advisor Managed Accounts

    • Retirement Income Adequacy & Financial Wellness

    • The DOL Conflict of Interest Rule and IRA Rollovers

    • Cybersecurity and Data Privacy

    • Quiz #8
  10. 10

    • ERISA Litigation is Accelerating

    • ERISA Settlements & Judgements

    • Tussey v. ABB

    • Tibble v. Edison

    • Cassell v. Vanderbilt

    • Quiz #9
  11. 11

    • Bonding and Insurance

    • Fiduciary Governance/Oversight Structure

    • Compliance Tip #12

    • Fiduciary Process Documentation

    • Compliance Tip #13

    • Reliance on Third Party Experts

    • Quiz #10
  12. 12

    • How the Fiduciary Landscape Could Evolve

    • Increased Company Generosity

    • Harnessing the Power of Behavioral Economics

    • Personalized Participant Solutions

    • Plan Automation

    • Big Data and Decision-Support Tools

    • Data Privacy

    • Cybersecurity
  13. 13

    • Final Exam

    • Course Survey

    • Course Recap

Bonus material