Fiduciary Investment Reporting Monitor (FiRM)
- FiRM tool provides periodic Investment Monitoring Reports that assists plan sponsors in their fiduciary obligation to regularly review plan investments
- Advisors and clients craft a customized Investment Policy Statement (IPS), which sets the criteria to monitor the plan’s current investments to be sure they are in line with the plan goals
- By establishing an IPS for the plan, the plan is following the Department of Labor’s (DOL) best practices
FI360
- Fund rating and evaluation tool available
- Uses statistical measures to compart against multiple funds
Morningstar
- Investment research and rating company
- Objective 3rd party evaluation of specific funds