Is there anything new in the employee benefit/retirement plan arena?
Blossom: Mainly, there’s a far greater focus on fiduciary responsibility and how to help our clients meet those responsibilities. That’s why our move to becoming an RIA was so timely in our firm’s development. The eight-step fiduciary due diligence process, established within the written investment policy statement we provide our clients, plays a significant role in establishing a prudent approach to investment selection for their plan and its participants. Being prudent or acting prudently in this arena is a requirement-as vague as that term currently is. In addition, effective communications to the rank-and-file participants, who often have no experience in the world of investing outside of their retirement plans, is an important focus. Alliance Benefit Group is employee owned. Explain the ESOP. What do employees need to be aware of in regard to ESOPs? Weitzel: Alliance Benefit Group became employee owned in November 1999 during a transition of ownership from Civitas Bank. Internally
