In this episode of Friday Fiduciary Five, Eric Dyson talks about the ARA Leadership Triangle: Authority, Responsibility, and Accountability. He emphasizes that while authority can be delegated, responsibility cannot. Eric uses examples from leadership roles to illustrate the consequences of lacking these elements: apathy without accountability, frustration without authority, and boredom without responsibility. He stresses that ERISA plan fiduciaries cannot completely offload their responsibilities to service providers, even if there are shared fiduciary roles. Eric highlights the importance of monitoring delegated tasks and maintaining fiduciary duties, even when responsibilities are shared.

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: 940-248-4800

Email: contact@90northllc.com

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.

The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.