Write a paper regarding the following scenario:
Imagine that you are the CFO of a SME (Small to Medium Size Enterprise) seeking a financial advisor to oversee the firms 401k and 401a profit sharing plans and defined benefit plan for the growing 250 employee participants.
Please make your findings of your evaluation to the CEO and Board of Directors for consideration as to the importance of hiring a proper advisor with fiduciary responsibility on behalf of the firm.
Include in your evaluation the importance of fiduciary responsibility of advisors and retirement plan providers and the investment considerations and limitations of employer-sponsored plans specific to the types of plan(s) discussed.
Discuss and justify your position whether you think fiduciary responsibility should remain or be changed and discuss specifics. Use more than one article as part of your analysis.