Fiduciary Compliance

Retirement Plans require prudent governance by plan sponsors and fiduciaries.

Independence Financial Partners offers The Fiduciary Fitness Program™, an independent compliance tool to measure the health of a retirement plan, through our membership in the Retirement Plan Advisory Group™ (RPAG™). Our program provides resources as a means to identify potential weaknesses in your plan and remedy through education, diligence, and process.

Program Goals

  • Identify plan fiduciaries and understand the extent of their specific responsibilities
  • Attempt to comply with ERISA §404(a) and §404(c)
  • Document the hiring process for service providers and other vendors
  • Identify parties in interest to the plan and take steps to monitor transactions
  • Understand major exemptions under ERISA that permit transactions with parties in interest
  • Review plan documents in light of current plan operations and make necessary updates
  • Comply with reporting and disclosure requirements
  • Ensure that individuals are properly bonded and covered by liability insurance and more

Best Practices Approach

The Program offers a holistic approach to fiduciary best practices, and encompasses three key deliverables:

  • Report Card: Demonstrates what plan sponsors and fiduciaries need to address and documents plan management responsibilities.
  • Fiduciary Plan Review™: Educates fiduciaries regarding their responsibilities, examines plan design, and documents prudent processes.
  • Reference Guide: Graphs, charts and checklists provide easy to understand technical guidance for the completion of action items contained on the Report Card.

Independence Financial Partners is a member of Retirement Plan Advisory Group™ (RPAG™). The consulting services reflect services that we will provide as a result of our member with RPAG. This includes, but is not limited to, investment due diligence, RFP and fee benchmarking, plan design and fiduciary review and communication services.

The Next Step
Learn more about the benefits Independence Financial Partners can offer by calling 866-691-4100 or click here to Contact Us

100+ Years of Experience
Established in 1909, Independence Financial Partners' history is a testament to our dedication to our clients. Today, our full service firm serves Southern New England from its main offices in Warwick, Rhode Island and Rocky Hill, Connecticut.

About Us
Independence Financial Partners has been helping individuals, families and businesses achieve their financial goals for over 100 years.

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935 Jefferson Blvd
Suite 2000
          Warwick, RI 02886

100 Corporate Place
Suite 210
          Rocky Hill, CT 06067