Institutional Practice | SWBC
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Institutional Practice

If your organization offers a retirement plan platform or if you’re a financial professional not looking to assume fiduciary responsibility for your retirement plan clients, fiduciary partners can be of the utmost importance. Our Institutional Practice provides unbiased expertise to allow retirement plan providers and financial professionals the ability to avoid assuming fiduciary responsibility for their clients’ retirement plan investments. In addition, our Institutional Practice allows companies who are looking to satisfy their fiduciary responsibilities access to an unbiased, prudent expert willing to serve as a fiduciary to their plan.

We realize that most recordkeeping providers do not give investment advice or serve as a fiduciary to plan sponsors with respect to their plans’ investments. That’s why we serve as an Independent Registered Investment Advisor offering investment advisory, fiduciary support, and investment management services to help satisfy the fiduciary responsibility associated with retirement plans.

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With Our Institutional Practice, We ProvideTwo primary fiduciary roles at the plan sponsor level


3(21) Fiduciary Services

With this service, we advise the plan sponsor on investment selection and monitoring. We help plan sponsors by providing recommendations for selecting, monitoring, replacing, and diversifying investment options available within their plan. We communicate recommendations prior to implementation to help mitigate fiduciary risk.

3(38) Fiduciary Services

With this service, we perform investment selection and monitoring for the plan sponsor. We take on the ERISA section 3(38) responsibility to the retirement plan, and assume discretionary authority over the retirement plan investments. We assume responsibility for the selection and replacement decisions for all investments offered within the retirement plan.

Meticulous andComprehensive Oversight

We’re thorough and confident in our recommendation.

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Step One:

Review the universe of available investments and determine the applicable asset classes to offer.

Step Two:

Screen the available universe of investments options for quantitative selection factors such as performance, management tenure, and expenses. This process identifies investment options that are excluded from fiduciary coverage.

Step Three:

Screen for qualitative selection factors that help us understand the investment process, overall fiduciary stewardship, and other factors that contribute to the ongoing success of the investment strategy.

Step Four:

Present potential investments to the SWBC investment committee for final evaluation. Only after an investment has been approved by the committee will it be available for SWBC’s fiduciary coverage.

Step Five:

Ongoing monitoring of the investments for any material changes that could affect the direction of the fund in the future, and provide recommendations of action to take.

SWBC's Institutional Practice concentrates exclusively on serving the retirement market. We provide advisory and support services to retirement plan sponsors and providers, accepting professional responsibility as defined for fiduciaries by the Employee Retirement Income Security Act (“ERISA”). The standard for professional responsibility has been set by ERISA, and it is our mission to act as an advocate to ensure that plan sponsors and providers are meeting their obligations. Our institutional clients utilize SWBC due to a need for effective solutions with respect to risk management and all aspects of their investment offerings.

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Investment Options to Offer Your Employees

All plan sponsors are welcome to build their own investment menu from any available investment options when utilizing SWBC’s 3(21) fiduciary services. For those plan sponsors needing a little bit of help, or for those who have selected SWBC’s 3(38) fiduciary services, we offer plan sponsors several opportunities for constructing your plan’s investment menu. Examples of possible directions for the plan under SWBC’s 3(21) or 3(38) fiduciary services include:

Core Focus List

Investment Objective: Blend of Active and Passive Options

This is a pre-selected list of investments designed to provide participants with a well-rounded selection of investments from the most commonly used asset classes. This helps plan sponsors offer their participants efficient investment choices including both passive and actively managed investment options.

Passive Focus List

Investment Objective: Passive, Low Cost Options

This is a pre-selected list of investments designed to provide participants with a strictly index-based, low-cost selection of investments.

Core Plus Focus List

Investment Objective: Expanded Opportunities for Diversification

This is a pre-selected list of investments designed to provide participants with the greatest assortment of asset classes. This is most appropriate for those whose participants possess an understanding of investment risk as it pertains to High Yield Bond, Diversified Emerging Markets, and Real Estate.

Why choose SWBC?

We assume fiduciary responsibility in writing for 100% of the clients we serve

3(21) or 3(38) with Qualified Default Investment Alternative Selection available for 3(38) services

Investment selection and monitoring made easier

Quarterly investment reports at a plan sponsor level for easy to view recommendations

Creation of an Investment Policy Statement for every plan

No conflicts of interest or bias toward particular funds

Proactive due diligence on platform managed account solutions

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