Sponsors of 401(k) plans and other ERISA-governed retirement plans place their own personal net worth at risk if they fail to fulfill their duties prudently. This personal liability attaches to plan sponsors for investment mistakes they make and investment mistakes made by plan participants.
Many investment advisors have no interest in helping plan sponsors reduce such liability because that would mean the advisors themselves would have to assume it. PIA, as the investment advisor to 401(k) plans, believes differently. The firm relieves sponsors from significant responsibilities and liabilities for the selection, monitoring and replacement of plan investment options. This helps plan sponsors minimize their personal risk while maximizing wealth, long term, for plan participants (and their beneficiaries).
