What's the job description and right questions for a fiduciary governance consultant?
If a plan trustee and investment committee decide to hire a fiduciary governance consultant (or any vendor for that matter), how do they know they're getting what they need?
Such a consultant will review all existing plan procedures, suggest modification where needed, and ensure compliance of the plan as well as all parties with duties to the plan.
This RFP will help you:
- Know which questions are the right ones to ask.
- Assess whether the consultant can meet the needs of the plan.
- Fulfill the plan trustee's duty of care as it relates to the selection and monitoring of vendors.