BFCM definition
Examples of BFCM in a sentence
BFCM may rely upon all information provided to BFCM, whether financial or otherwise, from reputable third parties or by the Client, Client’s representatives or third-party service providers to the Client or the Plan without independent verification.
This Agreement shall not be binding on BFCM until accepted in writing, as indicated by its signature below.
Investments are subject to various market, political, currency, economic, and business risks, and may not always be profitable; and further that BFCM does not and cannot guarantee financial or investment results.
BFCM will perform the Non-Fiduciary Services as described above and shall not be liable for any liabilities and claims arising thereunder unless directly caused by BFCM’s intentional misconduct or gross negligence.
No assignment of this Agreement by BFCM shall be effective without the prior consent of Client.
In performing both Fiduciary and Non-Fiduciary Services, BFCM does not act as, nor has BFCM agreed to assume the duties of, a trustee or the Plan Administrator, as defined in ERISA, and BFCM has no discretion to interpret the Plan documents, to determine eligibility or participation under the Plan, or to take any other action with respect to the management, administration or any other aspect of the Plan.
Client agrees to promptly notify BFCM in writing of any material change in the financials and other information provided to BFCM and to promptly provide any such additional information as may be reasonably requested by BFCM.
In performing the Fiduciary Services, BFCM is acting as a fiduciary of the Plan under the Employee Retirement Income Security Act (“ERISA”) for purposes of providing non- discretionary and/or discretionary investment advice.
The signatory on behalf of Client represents that (i) the execution of the Agreement is authorized, (ii) the signatory has authority to execute the Agreement on behalf of the Plan, and (iii) it will provide supporting documentation as may be reasonably required by BFCM.
In performing the Non-Fiduciary Services, BFCM is not acting as a fiduciary of the Plan as defined by ▇▇▇▇▇.