Named Fiduciary

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Dictionary Says

Definition of 'Named Fiduciary'

The fiduciary that holds responsibility over a given financial account. The named fiduciary is responsible for operating and administering a qualified retirement plan under the Employee Retirement Income Security Act (ERISA), which is meant to protect participants in private-sector retirement plans. The named fiduciary is required to act in the plan participants’ best interests. However, the named fiduciary is not required to be a financial expert, so it may choose to appoint an investment manager to oversee the plan’s assets.
Investopedia Says

Investopedia explains 'Named Fiduciary'

The named fiduciary is just one of several types of fiduciaries involved in running a qualified retirement plan. Others include the plan administrator, trustee, investment manager and investment advisor. A fiduciary who mismanages a plan can be held personally liable.
Search results for

'Named Fiduciary'

  • Business Owners: Avoid Enron-esque Retirement Plans

    http://www.investopedia.com/articles/analyst/011802.asp
    ... plan must be held in trust by one or more trustees, and the trustee must be named
    in the plan document or appointed by a person who is a named fiduciary. ...

  • Series 26 Study Guide - Mutual Fund Accounts - Types of Account ...

    http://www.investopedia.com/exam-guide/series-26/mutual-fund-accounts/types-account-agents.asp
    ... The fiduciary may not use the account for his or her own benefit; he or she can ... Power
    of Attorney To allow a person not named on an account to have trading ...

  • Should You Put Your Faith In A Trust?

    http://www.investopedia.com/articles/retirement/08/trust-company.asp
    ... as trustees for their clients in a fiduciary capacity. The majority of a trust
    company's assets are held in actual trusts, with the trust company named as the ...

  • Series 26 Study Guide - Supervisory Systems - FINRA Conduct Rules ...

    http://www.investopedia.com/exam-guide/series-26/supervisory-systems/finra-conduct-rules.asp
    ... use of information obtained by a registered person when in a fiduciary capacity
    (such ... Being subject to claims for damages greater than $15,000; Being named as a ...

  • Series 6 Study Guide - Customer Accounts - Death or Incompetence ...

    http://www.investopedia.com/exam-guide/finra-series-6/customer-accounts/death-incompetence-account-owner.asp
    ... If the custodian dies, a new custodian must be named to manage the account ... Like the
    custodian in a custodial account, the trustee is a fiduciary who must adhere ...

  • Series 7 Study Guide - Retirement Accounts - Custodial Accounts ...

    http://www.investopedia.com/exam-guide/series-7/retirement/custodial-accounts.asp
    ... parent and the custodian would be violating his or her fiduciary responsibility
    if ... 529 Plans Named for the provision in the internal revenue code, section 529 ...

  • Series 65 Study Guide - Cash Equivalents and Fixed Income ...

    http://www.investopedia.com/exam-guide/series-65/cash-equivalents-fixed/corporate-bonds.asp
    ... Furthermore, a trustee is named to act on behalf of the bondholders to make
    sure the company honors this agreement. The Four Types ...

  • The Rise Of The Modern Investment Bank

    http://www.investopedia.com/articles/08/investment-banks.asp
    ... a 15% overallotment option, called a greenshoe, which is named after the ... side agents -
    investment advisors and money managers - have a fiduciary obligation to ...

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