Find 3(21) Investment Advisors

Secure expert co-fiduciary support for your retirement plan. Compare top-rated ERISA 3(21) investment advisors who provide professional guidance and investment monitoring while allowing you to retain control over final decisions.

Browse 507 providers in this category.

Provider ranking

  25. Adams Brown Wealth Consultants, LLC

    Plan Advisor

    Great Bend, KS

    Credentials: AIF® - Accredited Investment Fiduciary • Other • CFP® - Certified Financial Planner • +1 more

    Stats: $1.1B under management

    Company: Est. 2019

    View Profile

Partner with Top ERISA 3(21) Investment Advisors

Managing a corporate retirement plan requires navigating a complex landscape of investment choices, regulatory obligations, and fiduciary liabilities. For plan sponsors who want to retain final authority over their plan's investment menu but require professional expertise to make informed decisions, hiring an ERISA 3(21) investment advisor is the ideal strategy. These professionals act as "co-fiduciaries," working alongside you to ensure your plan remains competitive, compliant, and beneficial for your employees.

What is a 3(21) Fiduciary Advisor?

Under ERISA Section 3(21), an advisor is defined as a fiduciary if they render investment advice for a fee. Unlike a 3(38) manager who takes full discretion, a 3(21) advisor serves as a strategic partner. They provide the research, due diligence, and recommendations, but the plan sponsor (typically the investment committee) retains the final say on which funds to add, keep, or remove. This "help me do it" model is perfect for organizations that want to stay involved in the process without shouldering the burden of investment analysis alone.

Key services provided by qualified 3(21) advisors include:

  • Investment Screening: Rigorous analysis of mutual funds and ETFs to ensure they meet performance and cost benchmarks.
  • Quarterly Monitoring: Ongoing review of the investment lineup to identify underperforming funds or style drift.
  • Fiduciary Training: Educating your investment committee on their responsibilities to minimize personal liability.
  • Fee Benchmarking: helping you evaluate costs against industry standards, often coordinating with retirement plan providers to negotiate better rates.

The Difference Between 3(21) and 3(38) Advisors

Choosing between a 3(21) and a 3(38) advisor comes down to how much control—and liability—you wish to delegate. While a 3(21) advisor shares the fiduciary risk with you, a 3(38) investment manager assumes the bulk of the liability for investment selection. Many of the firms listed in our Plan Advisors directory offer both levels of service, allowing you to scale your engagement as your company's needs evolve.

Mitigating Risk and Ensuring Compliance

One of the primary reasons to engage a 3(21) advisor is risk mitigation. The Department of Labor focuses heavily on procedural prudence—not just investment results. A 3(21) advisor helps you document your decision-making process, creating a paper trail that is vital during regulatory reviews. They often collaborate with other professionals, such as ERISA attorneys and auditors, to ensure that your plan's governance structure is legally sound.

Explore our comprehensive list of ERISA 3(21) investment advisors to find a partner who aligns with your fiduciary goals and helps you build a retirement plan that empowers your workforce.