Fiduciary Quiz - Heller Wealth Management

Does your current advisor help you craft an Investment Policy Statement to detail investment policies and decision making roles (Considered an ERISA best practice)?

Yes No

Did you know that executive 401(k) contributions can depend upon employee participation?

Yes, and my advisor takes action to incentivize employee retirement savings Yes, but I don’t know of any action taken to increase participation. No, I was not aware of that constraint.

How often are you meeting with your financial advisor?

Once per year Monthly Quarterly I don’t know

During these check-ins, what do they provide? (Select all that apply)

Overview of any regulatory or legal updates Market review Plan demographic overview Plan asset roll-forward Fee and expense breakdown and benchmarking Due diligence analysis with Investment Policy Statement criteria Target date and/or model portfolio analysis I don't meet with my financial advisor regularly

Does your advisor collect demographic and financial information to understand and serve your plan participants better? (i.e., credit card debt, loans, retirement savings)

Yes No I don't meet with my financial advisor regularly

What methods does your 401(k) advisor use to understand your company culture and investment priorities?

Regular financial education workshops One-on-one meetings with plan participants All of the above None of the above

How well does your advisor balance helping 401(k) participants in reaching their retirement goals while still supporting the plan sponsors with their employee benefit offerings?

Exceeding my expectations Meeting my expectations Somewhat unsatisfactory Unsatisfactory

If you had to pick one of the following, what’s the single biggest challenge?

Freedom: Finding a fiduciary advisor with a history of trust Impact: Growing my 401(k) plan pool and investment size Legacy: Providing for my retired employees All of the above

Recordkeeping is an essential part of fiduciary advising.

How confident are you that your advisor is using the most advanced recordkeeping systems and is staffed adequately?

We chose our present advisor because of their recordkeeping expertise and legacy of diligence. I receive regular performance reports but am not aware of any recordkeeping measures beyond that. I don’t know

Would you like to receive a third-party objective, no-obligation assessment of your 401(k) plan?

Yes, because an outside perspective never hurts. We already receive a third-party analysis of our advisor’s performance.

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