--- title: 10 Essential Questions When Hiring a 3(38) Investment Fiduciary description: "3(38) fund recommendations 401k" --- - [ BLOG ](https://blog.ggaretirement.com/) - [ CLIENT LOGIN ](https://www.ggaretirement.com/client-login) [![gga-retirement-header-logo](https://blog.ggaretirement.com/hubfs/gga-retirement-header-logo.jpg) ](https://blog.ggaretirement.com/10-essential-questions-when-hiring-a-338-investment-fiduciary#) ** - [ FOR ADVISORS ](https://www.ggaretirement.com/for-advisors) - [ FOR EMPLOYERS ](https://www.ggaretirement.com/for-employers) - [ OUR TEAM ](https://www.ggaretirement.com/our-team) - [ 401K PEP ](https://www.ggaretirement.com/401k-pep) - [ CONTACT US ](https://www.ggaretirement.com/contact) - [ REQUEST CONSULTATION ](https://resources.ggaretirement.com/request-consultation) # Blog ## 10 Essential Questions When Hiring a 3(38) Investment Fiduciary Posted: Apr 23, 2020 3:57:41 PM It’s important to assess a 3(38)’s experience. We have seen 3(38) fund recommendations that would not withstand scrutiny in an ERISA court. A fiduciary should be transparent about fees and how they make money. There is nothing legally wrong with receiving fees from mutual funds, but philosophically, whoever pays you, is who the advisor represents.   Here are the most important questions you should be asking when considering a third-party plan fiduciary. 1. What is your investment philosophy? 2. How do you decide which funds to include in your investment lineup? 3. What are your fees? 4. What services are included in your fees and what are the additional costs? 5. Do you have any financial interest in or receive any incentives from the funds you recommend? 6. How do you track success for your clients? 7. Can you provide three references? 8. What is your background and is there anything on your regulatory record that I should know about? 9. How often will we interact in person, by phone, or by email? 10. Can you explain financial concepts to me and my staff? --- Granite Group Advisors is an experienced independent wealth management firm with a nearly 20-year record of providing excellence. If you’d like to see how Granite Group can help with your investments, please [schedule a time to talk](https://meetings.hubspot.com/lyle-himebaugh).   [![LEARN MORE](https://no-cache.hubspot.com/cta/default/6431732/3db6850d-0b4d-4fa3-b813-85214981faa0.png)](https://cta-redirect.hubspot.com/cta/redirect/6431732/3db6850d-0b4d-4fa3-b813-85214981faa0) ### Posts by Tag - [401k (28)](https://blog.ggaretirement.com/tag/401k) - [Business (22)](https://blog.ggaretirement.com/tag/business) - [Retirement (15)](https://blog.ggaretirement.com/tag/retirement) - [Retirement Plans (12)](https://blog.ggaretirement.com/tag/retirement-plans) - [Covid-19 (10)](https://blog.ggaretirement.com/tag/covid-19) - [Online financial tool (3)](https://blog.ggaretirement.com/tag/online-financial-tool) - [Technology (3)](https://blog.ggaretirement.com/tag/technology) - [financial advisor (3)](https://blog.ggaretirement.com/tag/financial-advisor) - [Insider (2)](https://blog.ggaretirement.com/tag/insider) - [ERISA (1)](https://blog.ggaretirement.com/tag/erisa) - [Market Outlook (1)](https://blog.ggaretirement.com/tag/market-outlook) - [News Update (1)](https://blog.ggaretirement.com/tag/news-update) - [Nonprofits (1)](https://blog.ggaretirement.com/tag/nonprofits) - [Target Date Funds (1)](https://blog.ggaretirement.com/tag/target-date-funds) [See all](https://blog.ggaretirement.com/10-essential-questions-when-hiring-a-338-investment-fiduciary#) ## OUR CONTACTS **Address** 1 Landmark Square  Stamford, CT 06901 (Suite 426) **Telephone ** [(203) 210-7814](tel:203-210-7814) **Fax** [(203) 403-9481](tel:203-210-7814) **Email ** [info@granitegroupadvisors.com](mailto:mrosenthal@granitegroupadvisors.com) ## OUR COMMUNICATIONS Join Our Mailing List to See Our Blog Updates [RETIREMENT LOGIN](https://www.ggaretirement.com/client-login) [**](https://blog.ggaretirement.com/10-essential-questions-when-hiring-a-338-investment-fiduciary#) © 2026 by Granite Group Advisors. All rights reserved. - [Privacy Policy](https://www.ggaretirement.com/privacy-policy) - [Disclaimer](https://www.ggaretirement.com/disclaimerpolicy) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/usa-flag.png)](https://www.ggaretirement.com/) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/netherland-flag.png)](https://www.ggaretirement.com/copy-of-home-spanish) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/spain-flag.png)](https://www.ggaretirement.com/copy-of-home) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/china-flag.png)](https://www.ggaretirement.com/copy-of-home-portugese) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/brazil-flag.png)](https://www.ggaretirement.com/copy-of-home-french) [![](https://blog.ggaretirement.com/hubfs/ThemeNov2019/flags/france-flag.png)](https://www.ggaretirement.com/copy-of-home-russian)