Broker Check

Fiduciary Responsibilities

“As defined by ERISA, we provide services at two fiduciary levels based on the level of control and exposure your plan wishes to maintain: limited scope 3(21) and 3(38) full discretion over assets.” ~ F. Patrick Cunnane, MBA, CIMA, AIFA® Managing Principal Masters Consulting Group

At Masters Consulting Group, we adhere to a strict fiduciary standard of care, meaning we act solely in the best interests of our clients. Firm founder Frank Patrick Cunnane has the experience and credentials to serve clients in a fiduciary capacity, including:

Accredited Investment Fiduciary® (AIF®)

This designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care.

Accredited Investment Fiduciary Analyst™ (AIFA®)

This designation signifies the ability to perform fiduciary assessments measuring how well investment fiduciaries are fulfilling their duties to a defined standard of care.

ERISA 3(21) Fiduciary Advisor

A 3(21) fiduciary can exercise control of an investment plan, working with the client to make decisions. This may help the client mitigate some risk.

ERISA 3(38) Investment Advisor

A 3(38) fiduciary can manage a plan’s assets and take on the responsibility of selecting, monitoring, and replacing investments. This can help clients mitigate some of the risk of serving as a plan sponsor.

With these credentials, Frank Patrick Cunnane adheres to a prudent process in providing fiduciary guidance and oversight in the development of investment policy statements, and investment selection and monitoring. He is committed to providing advice and strategies that align with the client’s best interests and objectives.

This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice.  Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.  In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.