The Fiduciary Cafe - General Fiduciary Education, Part 1

April , 2016

Cafe Coffee LogoHello.  Thanks for coming to our website, LinkedIn and/or LinkedIn Company Webpage.  Premier Fiduciary Services is a company that is dedicated to helping companies provide the best possible qualified retirement plan for their employees.  We also strive to help the trustees minimize their time by providing comprehensive plan services and serving as a 3-21 or 3-38 plan co-fiduciary.

So, what is the purpose of this blog?  I never thought of myself as blogging, but some very wise business consultants told me I needed to do this, so here we are.  Our goal will be to start from the beginning and walk our readers through being a fiduciary.  For now this blog will be monthly, being posted at the beginning of the month.  Since there is so much going on with who is and who isn’t a fiduciary and the Department of Labor providing new legislation regarding fiduciaries, we will provide some links for you to access to keep up with the current events/changes.

If you are someone who is very knowledgeable on this topic, these early posts may not be valuable for you.  For our readers that are not sure what all of this is about…please grab a cup of coffee and read on.

According to Online Etymology Dictionary, the definition and root of “fiduciary” dates back the mid-1600s.  From the Latin word, “fiduciaries” entrusted, held in trust.  From “fiducia” trust, confidence, reliance.

Fast forward to 1974 and the passage of The Employee Retirement Income Security Act (ERISA) requires plan fiduciaries to act prudently and solely in the interests of the plan’s participants and beneficiaries, prohibits self-dealing, and provides judicial remedies when violations of these standards cause harm to plans.  In enacting ERISA, Congress recognized that the security of America’s employee benefit plans depends on their fiduciaries.  The Employee Benefits Security Administration (EBSA) has proposed a rule to recast an existing regulation to better reflect relationships between investment advisers and their employee benefit clients.  This information and more can be found at:

Also, more information on the pending changes and details on the new rules can be found at:

Thanks for reading.  Hopefully, for my “fiduciary rookies” this was helpful.  If you have questions or concerns please email me at  Have a great month, and we will be back with fresh coffee and a new article the first week of May.

GevaliaCoffee of the Month suggestion: Gevalia Columbian – this is your basic get up and go coffee in the morning.  A nice smooth cup of coffee, not too strong…so for our diehard “Turkish Coffee” folks, this is not the cup for you.  But for someone who is OK with a middle of the road strength and enough kick to get you going, give it a try.

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