Chao & Company’s Fiduciary Consulting develops a framework and process for ERISA stewards to meet their responsibilities and obligations in achieving the overall goals and objectives of their retirement plan.  Chao & Company prides itself on exemplary best practices where it strives to exceed expectations with the highest industry standards being the foundation from which it builds. For more on Chao & Company’s commitment to this role please go to:

Chao & Company fulfills its fiduciary duty either as an ERISA Section 3(21) investment co-fiduciary or as an ERISA Section 3(38) fiduciary with full discretion in one or more of the following areas:
  1. ERISA compliance analysis
  2. Plan design review
  3. Install fiduciary best practices
  4. Maximize fiduciary protection through implementing regulatory "safe harbors"
  5. Draft Investment Policy Statement ("IPS")
  6. Assess and analyze existing investment options
  7. Prudently select and monitor investment options
  8. Review and evaluate the selection of a Qualified Default Investment Alternative ("QDIA")
  9. Prepare and review responses to plan sponsor-specific administrative or investment Request for Proposal ("RFP") or Request for Information ("RFI")
  10. Conduct plan fee and service benchmarking

We are plan fiduciaries in spirit and by contract.  Our fiduciary lens helps us to be clear minded about our services and how we can help plan sponsors and other fiduciaries in bettering their thinking and actions when we collectively service in the best interest of the plan participants and beneficiaries.  What we do is more than a job, a way to make a living, or a career path. Being a fiduciary consultant or a fiduciary manager is a noble profession. Teachers, firemen, soldiers and police officers are all members of their noble professions, and there is a common link.  We all serve others by placing their interests ahead of our own.  Of course we must make a living, but our greatest reward is helping others achieve their goals and stay out of harm’s way.  In our practice, we focus on what is important to the plan and find the most prudent solutions in deriving the desired outcome.  We do so by being true to ourselves so that we can offer the very best of us to our client.  We know our limitations and competence, and we should never overreach.  Our role is to offer our wisdom, experience and expertise at a reasonable compensation and to not cause the clients to violate their fiduciary responsibilities or marginalize their fiduciary position because of our presence.  We are our plan sponsors’ advocate and instill the best practices.  Our clients hire us for our loyalty and standard of care, and we owe them a perpetual quest to be at our best so that they can benefit from our engagement. 

The Royal Military Academy at Sandhurst’s motto is “Serve to Lead”, and the final quote in its cadet lessons Plans by Field Marshal Sir William Slim Courage in 1957 states:
"Unselfishness, as far as you are concerned means simply this - you will put first the honour and interests of your country and your regiment; next you will put the safety, wellbeing and comfort of your men; and last – and last all the time - you will put your own interest, your own safety, your own comfort."

Chao & Company believes that “Serve to Lead” defines the essence of a fiduciary and how we practice every day.  We lead our clients through serving them with unselfishness so that our clients have a higher probability of reaching the desired if not necessary outcome for the working men and women of America.