FPLCM provides both ERISA 3(38) Investment Manager and ERISA 3(21) Investment Advisor fiduciary services to retirement plans on our platform. The majority of plans under our management choose our ERISA 3(38) Investment Management Services, which offer a higher level of fiduciary protection by transferring full investment decision-making responsibility to us.
As an ERISA 3(38) fiduciary, we assume discretionary authority over plan investments—selecting, monitoring, and making changes to the investment lineup as needed—ensuring your plan remains compliant and aligned with fiduciary best practices.
Below are key services we provide as part of our ERISA 3(38) Fiduciary role.
Investment Policy Statement development and review.
Design and manage asset allocation models.
Select, monitor, and replace investment options.
Personalized one-on-one retirement readiness guidance.
Advanced plan design to optimize contributions and tax efficiency.
Meet annually to discuss plan progress
Our platform primarily collaborates with Third-Party Administrators from our network. They currently support over 3,000 qualified retirement plans throughout the nation. However, Plan Sponsors have the option of selecting their own TPA. Below are few highlights of services TPAs provide:
Keeping in line with our pricing philosophy, our network of TPAs also use a flat-fee pricing model.
Recordkeeping services provided by Vanguard Retirement Plan Access™ (VRPA). VRPA is one of the industry leaders in Recordkeeping for qualified retirement plans. Unlike most other Recordkeeper platforms, VRPA uses a flat-fee pricing model without any assets under management fees and typically a more cost-effective solution for large retirement plans. Below are few highlights of services VRPA provides:
For start-up 401(k) plans, we offer an alternative Recordkeeping option, provided by PCS Retirement using Charles Schwab’s custodial platform. They charge a low assets under management fee with a nominal per participant fee. If a Plan Sponsor does not expect the plan assets to grow at a rapid rate, we recommend PCS Retirement.
For plans utilizing Vanguard’s Recordkeeping services, Custodian services are provided by Ascensus—one of the nation’s largest and most experienced custodians. With over 40 years in the industry, Ascensus oversees more than $863 billion in assets, serves 15+ million participants, and employs over 5,400 dedicated professionals. The firm has also received multiple Best-in-Class awards in recent years. Custodian services are included as part of Vanguard’s overall fee, with no additional charges.
For plans using PCS Retirement as their Recordkeeper, Charles Schwab serves as the Custodian. Schwab’s custodian fee is bundled within PCS Retirement’s Recordkeeping fee.
