As holders of the AIF® designation, AFA uses the methodologies developed by fi360/University of Pittsburgh, the gold standard for developing practices and processes for fiduciaries to manage qualified pension plans and trust. These pension plans are governed by strict federal and state laws (ERISA, UPIA, MPERS, UPMIFA) that require a high level of diligence and prudent care. ERISA laws require the most rigorous standards of fiduciaries who manage and monitor these plans for the plan participants. To be a fiduciary means to serve in the best interest of one master, in the case of pensions it is the plan participants. The rulings and regulations from the DOL and other state regulators changes constantly, so it is important to hire an Investment Advisor that is expert in the principals and best practices in managing qualified plans. The AIF® requires designees to engage in a minimum of 6 hours of Continuing Education to stay up to date on the new rulings and the best practices for managing your pension plans.
AFA uses the fi360 Fiduciary Quality Management System which is based on the ISO 9000 quality management model to organize, formalize, implement and monitor trust and pension plans. This is process that focuses on continual improvement and standardization of practices to comply with appropriate laws and regulations. As Fiduciary Investment Advisors, we implement and document all of the processes and best practices developed by fi360 that assure we and our clients comply with Prudent Investor requirements of pension law and regulations.
Fi360 Fiduciary Quality Management System
Our fee-only status requires complete transparency and disclosure. This fits well with the requirements of loyalty, exclusive benefit, due care, reasonable fees, transparency, and disclosure of conflicts of interest, required of pension laws and regulations. We adhere to a fiduciary standard in every aspect of our business. There is never a time when we are not serving our clients as a fiduciary as we sell no products, take no referral fees, or revenue sharing/soft payments. We are paid only from the fees that we are paid from our clients. This, our educational training, and experience uniquely qualify us to best serve your trust or pension plan and the beneficiaries/plan participants. Consider hiring us as an independent Investment Advisor who has no special interest other than to serve the plan sponsor and plan participants for a reasonable, justifiable fee.
Qualified Plan Design
As an Independent Registered Investment Advisor and Accredited Investment Fiduciary®, Aust Financial Advisory can play an important role in developing and servicing retirement plans. Services Include:
- Traditional Profit-Sharing plans
- New Comparability
- Traditional 401(k)/403(b) plans
- Safe Harbor 401(k) plans
- Defined Benefit plans
- Individual 401(k) plans
- SIMPLE IRA plans
Addressing Fiduciary Obligations
- Develop and implement an Investment Policy Statement
- Implement Prudent Investor best practices
- Benchmark total plan costs
- Monitor investment managers
Investment Selection & Monitoring
- Allow participants to effectively diversify their retirement plan investments at the lowest possible overall cost
- Choose and implement an appropriate asset selection to allow plan participants the ability to properly diversify their portfolios
- Measure and report performance against applicable benchmark