If you are the current plan sponsor and fiduciary of your small business 401(k), you are obligated to maintain diversified investments, ensure reasonable fees, and inform plan participants of all plan terms and changes. Additionally, since you are held to a high standard of care under ERISA regulations, you must act prudently in administering and managing plan assets.
Due to a lack of expertise or sufficient time to monitor the plan, it may be in your best interest to transfer a portion of your fiduciary responsibility to an investment advisor with experience in the retirement field.
If this is the case for your small business, choosing Condor Capital to manage your retirement plan would effectively reduce your level of liability by the amount of responsibility you wish to transfer. Additionally, plan participants would acquire a frequently monitored, best practices 401(k) plan that complies with ERISA standards.