Section 3(38) is an "investment manager" and by definition is a fiduciary because they take 1) discretion, 2) authority and 3) control of the plan's assets. ERISA provides that a plan sponsor can delegate the significant responsibility (and significant liability) of selecting, monitoring and replacing of investments to the 3(38) investment manager fiduciary.

A 3(38) fiduciary can only be (a) a bank, (b) an insurance company, or (c) a registered investment adviser (RIA) (Attentive Investment Managers, Inc. is an RIA)

We have the flexibility and experience to assume the legal position of either an ERISA 3(21) or ERISA 3(38) investment fiduciary for every 401(k)/Retirement plan.  Our contracts clearly indicate our fiduciary roles and responsibility.  

So what does this mean?  Our 3(38) capability means that we must act with the sole purpose of benefiting the plan participants and beneficiaries.  We have committed our time to understanding and monitoring the investment and administrative processes of each plan we handle.  As such, we are able to significantly reduce the personal liability faces by stewards of retirement plans.  This means the plan sponsor and all other plan fiduciaries are relieve of most of their fiduciary responsibility for the investment decisions made by the investment manager and is as such the core advantage of utilizing a 3(38) Fiduciary to manage your plan.  

With the easing restrictions of the California Shelter in Place order, we have resumed our normal business hours in the office. As before, we are taking steps to ensure the safety of our staff and clients:

  • Surfaces will be sanitized regularly
  • We have several bottles of hand sanitizer as well as anti-bacterial soap and a sink in the office along with disposable masks should you like one.
  • When possible, we will continue to maintain social distancing and when not possible all the staff has masks.
  • Masks are not required for you to enter our office.
  • We are more than happy to meet with you in office but still maintain the capability for web meetings or telecoms. And as always can be flexible if you require special meeting time accommodations.

Our office hours are:
M-Th 8 a.m. – 4 p.m.
Friday 8 a.m. – 1 p.m.

As always we are available by phone at 209-636-4931 or on email at or