ERISA compliance is not optional when advising held-away 401(k) accounts.
ERISA LAW
When a financial professional gives advice for a fee, or trades a held-away 401(k) account, they may become an ERISA fiduciary and must follow Department of Labor rules and ERISA fiduciary duties.
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974
ERISA fiduciary duties are among the highest duties recognized by law.
The courts have recognized ERISA fiduciary duties as “the highest duties known to law.”
ERISA was created to protect retirement plan participants and ensure retirement assets are handled prudently and in the participant’s best interest.
Many advisers historically avoided fully complying with ERISA requirements while advising held-away 401(k) accounts.
That changed after the 2008 Supreme Court case LaRue v. DeWolff, Boberg & Associates, which placed advisers on notice that individual participants could sue their adviser for breaches of fiduciary duty.
Department of Labor Focus
Advisers working with ERISA-covered accounts should understand fiduciary obligations, prohibited transaction rules, documentation standards, and compliance procedures.
Advising held-away retirement accounts creates real fiduciary responsibilities.
WHY THIS MATTERS
Many advisers underestimate the operational and legal complexity involved in giving retirement plan advice under ERISA.
Built to help financial firms structure compliant retirement advice workflows.
THE PLAN CONFIDENCE APPROACH
Plan Confidence was created specifically for independent investment advisory firms working with held-away retirement accounts.
The platform automates the manual research, advice creation, documentation, and operational workflows while helping firms maintain structured ERISA-focused processes.
Automated Documentation
Generate structured participant records and workflows.
ERISA-Focused Operations
Workflows built around retirement advice and fiduciary processes.
Scalable Adviser Systems
Replace manual retirement workflows with automation.
Learn how Plan Confidence helps firms structure ERISA-focused advice workflows.
Built for advisers who want retirement advice processes that are fast, easy, and compliant.