Over the last 10 years, there has certainly been a revolution among 401(k) financial advisors about the need and concern of good fiduciary practices for plan sponsors. The days of 401(k) financial advisors never showing up to meet the plan fiduciaries and collecting a quarterly fee are over. Advisors have to help a plan sponsor develop a fiduciary process in effectively managing their plan and that goes a long way in minimizing their plan sponsor’s liability. However, in the scheme of things, it isn’t enough. There is something more that’s out there and this article will introduce to you a standard that is a higher standard. If you decide to try to meet that higher standard, I think you can augment your services as a plan advisor and let you stand up among the crowd of other financial advisors.