Fiduciary Statement

Prepared by: [YOUR NAME]
On behalf of: [YOUR COMPANY NAME]

I. Introduction

As a fiduciary entrusted with managing the interests of retirement plan participants, it is crucial to establish clear guidelines and principles to govern our relationship. This statement serves as a fiduciary statement for Smith Wealth Management's foundational document outlining the responsibilities and standards of conduct expected in our fiduciary role.

A. Purpose and Scope

The primary purpose of this statement is to define the scope of our fiduciary duties and set forth the ethical standards guiding our interactions with retirement plan participants. By formalizing these principles, we aim to enhance transparency and accountability in our fiduciary relationship. This document applies to all activities and decisions made on behalf of Smith Wealth Management concerning retirement plan participants.

B. Definition of Fiduciary Responsibilities

Duty of Loyalty: As a fiduciary, I am obligated to act solely in the best interests of the retirement plan participants, prioritizing their welfare above all other considerations.
Duty of Care: I commit to exercising diligence, competence, and prudence in managing the retirement plan assets and affairs entrusted to me.
Duty of Confidentiality: I will maintain strict confidentiality regarding all information and matters related to retirement plan participants, ensuring their privacy and security.
Duty of Disclosure: I will provide timely and accurate disclosure of all relevant information and activities affecting the interests of retirement plan participants.

II. Code of Conduct

A. Integrity and Ethics

Honesty: I will uphold the highest standards of honesty and integrity in all dealings with retirement plan participants.
Avoidance of Conflicts: I will identify and promptly address any conflicts of interest that may arise, ensuring transparency and fairness in decision-making.

B. Professionalism and Communication

Effective Communication: I will maintain open and clear communication channels with retirement plan participants, keeping them informed and engaged in decision-making processes.
Professional Behavior: I will demonstrate professionalism, courtesy, and respect in all interactions with retirement plan participants and other stakeholders.

C. Compliance and Legal Obligations

Adherence to Laws and Regulations: I will comply with all applicable laws, regulations, and industry standards governing fiduciary responsibilities.
Continual Compliance Review: I will regularly review our practices and procedures to ensure ongoing compliance and alignment with best practices in fiduciary management.

III. Conclusion

In conclusion, this Fiduciary Statement underscores our commitment to fulfilling our fiduciary duties to the highest standards. By adhering to the principles outlined in this statement, we aim to build and maintain a relationship of trust and confidence with retirement plan participants. This document serves as a guidepost for ethical conduct and responsible stewardship of the interests entrusted to us.