Click + to expand for answers to frequently asked questions.
+ Q: What is Fiduciary U™?
A: Fiduciary U™ is an online learning community for ERISA fiduciaries and those work work with, or support, ERISA plans. It combines expert instruction with an online learning platform to teach and train learners through fiduciary education and knowledge sharing with other members of the Fiduciary U™ community.
+ Q: What is the mission of Fiduciary U™?
A: The mission of Fiduciary U™ is to make ERISA fiduciaries smarter and better equipped to make important decisions for retirement participants while minimizing corporate risk, plain and simple.
+ Q: Why should I subscribe to Fiduciary U™?
A: To build your knowledge, make better decisions and manage personal and corporate liability. Recent studies have shown that more than 75% of employees are living paycheck to paycheck and 25% are facing financial stress that cause distractions at work, so anyone who is an ERISA fiduciary (or works with ERISA plans) should recognize the moral imperative to improve outcomes for retirement participants. In just about every endeavor, lack of knowledge and insufficient training leads to sub-optimal outcomes and poor performance. With Fiduciary U™, you get smart, fast. Plus, it helps you manage risk for yourself and your company. You owe it to yourself and the people you serve to improve your decision-making.
+ Q: Is Fiduciary U™ only for ERISA fiduciaries?
A: No. Fiduciary U™ is valuable for anyone who deals with ERISA plans and wants to enhance their knowledge, sharpen their skills and be part of a community to ask questions, share ideas and learn about best practices. This can be plan support staff who are involved with day-to-day plan management and want to avoid making costly mistakes. For the same reasons, it's also a great resource for industry professionals such as advisors, TPAs, recordkeepers and plan auditors who want to serve their clients better.
+ Q: Why do ERISA fiduciaries need formal training?
A: Would you ever hire someone at your company for a really important job without giving them proper training? Of course not because it would likely lead to sub-optimal outcomes, poor performance and depending on the job, a lot of risk to the company. So here's the issue - you've got members of your retirement committee who haven't received any formal job training in a meaningful way but are responsible for millions and millions of dollars of their co-workers retirement assets, plus personal and corporate liability. It's a recipe for disaster for everyone involved. Incredibly, a recent survey by AllianceBernstein found that 49% of plan sponsors don't even know they are fiduciaries! Plus, ERISA litigation is exploding and the DOL views regular fiduciary training as a critical component of a good governance process and has been increasingly looking for evidence of a formal fiduciary training program during plan audits.
+ Q: Do I have to complete courses in a single session?
A: No. One of the benefits of the platform is that it's self-paced and saves your progress. If you learn at a fast pace you can develop competency quickly. If your learning stlye is more delibrate you can absorb the information without being pushed ahead too quickly. With 24/7 access, you can complete courses whenever it works best for you. Are you an early riser? Study in the morning. Unpredictable hours? Weave in the training around your other priorities.
+ Q: What's the difference between the ERISA Fiduciary Training subscription and the Fiduciary U™ subscription?
A: The ERISA Fiduciary Training subscription gives you 12-month access to that single course while a Fiduciary U™ subscription gives you access to all courses and content as well as insider research and access to the Fiduciary U™ Helpdesk.
+ Q: What the difference between an Individual subscription and a Company subscription?
A: The Individual subscription is for single students and for industry professionals (e.g. advisors, TPAs, recordkeepers and plan auditors). The Company subscription is reserved for plan sponsors (i.e. companies sponsoring a retirement plan) for use with internal retirement staff (e.g. committee members, HR, payroll, etc.). For our ERISA Fiduciary Training course, it makes more sense financially to purchase a Company subscription if you have 4 or more students. For our Fiduciary U™ subscription, it makes more sense financially to purchase a Company subscription if you have 2 or more students. The Company subscription is perfect for training an entire retirement committee.
+ Q: How many users can enroll with a Company Subscription?
A: Up to 10 as designated by the company.
+ Q: How do my students enroll once I purchase a Company Subscription?
A: Simply send an email to firstname.lastname@example.org with the name, company, email address, title, city and state for each of your designated users. We will load them into the system and then send a welcome email that enables them to create a password and access the platform.
+ Q: With a Company subscription, how do I know if my students have completed a course?
A: The system allows us to track student progress. Simply send an email to email@example.com with your company name and request a progress report.
+ Q: Can I cancel my subscription?
A: Absolutely, you can cancel at any time. Subscriptions require a 12-month term but are billed monthly. If you cancel during the term you will continue to be billed and have access for the remaing months until your term expires. Subscriptions automatically renew unless canceled. To cancel, simply send an email to firstname.lastname@example.org with "Cancel" in the subject line and we will process your request.
+ Q: Is CE credit available?
A: Yes, depending on the course. Currently, CE is available for the HR Certification Institute®, the Society for Human Resource Management (SHRM), the Certified Financial Planner Board of Standards, Inc., and Fi360. We are constantly submitting new courses for CE credit and expanding the organizations we work with.
+ Q: How is CE credit reported?
A: Once you complete a course that provide CE credit, simply send an email to email@example.com with "CE Request" in the subject and note which designations, licenses or certifications you need credit for. We will send you a certificate of completion and automatically report your credit to the appropriate organization.
+ Q: Is the Fiduciary U™ Helpdesk public or private? (COMING SOON)
A: The Fiduciary U™ Helpdesk feature is coming soon and is private and only available to Fiduciary U™ subscribers (not ERISA Fiduciary Training subscribers). Registration and access is provided once you purchase a Fiduciary U™ subscription.
+ Q: I am an industry professional. Can I use Fiduciary U™ with my own clients?
A: Absolutely! If you are an advisor, TPA/Recordkeeper, CPA or other industry professional we'd love to discuss licensing, dsitribution and co-marketing partnership opportunities. Submit your information via our Partnership Opportunities form and we'll be in touch soon to discuss.