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Form ADV Part 1A Item 5G(6) · Answer type: yn · Item 5G - Advisory Services
Item 5G(6) asks whether the firm provides pension consulting services. This covers advisory services to retirement plan sponsors, plan fiduciaries, and plan participants regarding pension plans, 401(k) plans, 403(b) plans, and other employer-sponsored retirement benefits.
Pension consulting typically involves helping plan sponsors (employers) design, implement, and monitor their employee retirement plans. Services might include investment menu selection, plan design recommendations, fiduciary consulting, participant education, and ongoing plan oversight to meet regulatory requirements.
The adviser might help with investment policy statements, benchmarking plan investments, monitoring investment managers, conducting investment searches, reviewing plan fees, and ensuring compliance with ERISA and other retirement plan regulations.
5G(6) differs from 5G(2) individual portfolio management that serves personal accounts directly, and from 5G(5) institutional management that typically involves separate account management for institutions rather than retirement plan consulting.
Pension consulting can include participant-level services like investment advice to employees within their 401(k) plans, or sponsor-level services helping employers manage their retirement plan responsibilities. Some firms provide both levels of service.
The consulting relationship typically involves working with plan sponsors (HR departments, CFOs, or benefits committees), third-party administrators, record keepers, and other service providers in the retirement plan ecosystem.
Some advisory firms specialize in pension consulting while others offer it alongside wealth management for business owners or executives. The specialized regulatory knowledge required for retirement plan work often creates distinct service areas within advisory firms.
5G(6) - Pension consulting services (Yes / No).
This is one checkbox in Item 5G, "Advisory Services." Firms mark this when they provide advisory services related to pension or retirement plan management and oversight.
If you are an employer seeking help with your company retirement plan, or an individual looking for advice within your workplace retirement account, look for Yes on 5G(6). This indicates the firm reports pension and retirement plan consulting as a service offering.
For individual investors outside of workplace retirement plans, 5G(6) provides context about the firm's expertise with retirement planning and employee benefits, which might inform their broader advisory services even if you do not need pension consulting directly.
A Yes does not tell you whether the firm works with plan sponsors, individual participants, or both. It also does not indicate the size of retirement plans they serve, their fee arrangements, or their specific areas of pension consulting expertise.
The service does not guarantee expertise with your specific type of retirement plan (401(k), 403(b), defined benefit, etc.) or familiarity with your industry's retirement plan requirements. Pension consulting covers a broad range of services and plan types.
Retirement plan advisory work involves complex fiduciary responsibilities, regulatory compliance requirements, and specialized knowledge of ERISA, Department of Labor regulations, and IRS rules that differ from other investment advisory services.
Yes
The firm reports providing pension consulting services. On Best Investors, find Item 5G on the firm's ADV panel and confirm 5G(6) is Yes. Also check other 5G services to see if pension consulting sits alongside other advisory services.
Review the firm's total regulatory AUM which may include retirement plan assets, and client counts which may include both plan sponsors and individual participants.
Ask the firm about their specific pension consulting services, the types and sizes of retirement plans they serve, whether they work with plan sponsors or participants (or both), and their experience with your type of retirement plan arrangement.
No
The firm does not report pension consulting services on 5G(6). Look at other marked 5G boxes to understand what advisory services they do provide - likely individual portfolio management, financial planning, or other services not focused on retirement plan consulting.
Many firms excel at retirement planning for individuals through personal accounts and IRAs without providing workplace retirement plan consulting services. The absence of pension consulting does not indicate limitations in retirement planning expertise for personal situations.
If you need retirement plan consulting services, look for firms with Yes on 5G(6) or ask whether the firm can refer you to specialists who focus on pension and retirement plan advisory work.