What is a Certified Plan Fiduciary Advisor (CPFA®)
If you’re overwhelmed by retirement planning, it might be a good idea to partner with an expert who puts your interests first. Working with a financial professional like a Certified Plan Fiduciary Advisor (CPFA) can help you find the resources you’ll need when planning for your golden years. Let’s break down how CPFAs can support you through the retirement planning process.
When Is a CPFA Right for Your Retirement Plan?
A CPFA can be a valuable resource in several retirement planning situations, especially when employer-sponsored plans play a central role. Individuals who participate in 401(k), 403(b), or other defined contribution plans may benefit from working with a CPFA if they need help evaluating investment options, understanding plan fees, or making decisions about contribution levels and plan design features. CPFAs are trained to assess plan structure and fiduciary standards, making them particularly helpful when navigating complex plan documents or compliance requirements.
Small business owners and plan sponsors often engage CPFAs to help design, manage, and monitor retirement plans for employees. This includes ensuring that the plan meets fiduciary obligations, offers appropriate investment choices, and complies with regulations under Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. A CPFA can assist with selecting service providers, benchmarking fees, and implementing automatic enrollment or escalation features to improve plan participation and outcomes.
CPFAs are also useful for individuals approaching retirement who need to align plan distributions with long-term income needs. They can help model withdrawal strategies that account for taxes, market risk, and timing of Social Security or pension benefits. If an individual has multiple retirement accounts, a CPFA can evaluate how employer plans interact with IRAs, annuities, or taxable investment accounts to build an integrated strategy.
While CPFAs are not the only professionals qualified to assist with retirement planning, their focused expertise in workplace retirement plans makes them a strong choice for participants and sponsors looking to optimize plan performance and ensure fiduciary oversight. For those seeking support with plan-level decisions or compliance, a CPFA may be an appropriate fit.
What Services Can a CPFA® Provide for You?
A CPFA provides specialized services focused on retirement plans, with an emphasis on fiduciary guidance, plan oversight, and participant education. For individuals, a CPFA can help assess the quality of an employer-sponsored retirement plan, explain available investment options, and advise on contribution strategies based on income, age, and retirement goals. They may also assist in reviewing plan fees, evaluating performance and identifying areas where adjustments could improve long-term outcomes.
For business owners and plan sponsors, CPFAs offer fiduciary consulting services to help maintain compliance with ERISA standards. This includes support in selecting and monitoring investment lineups, drafting or updating investment policy statements, benchmarking service provider fees, and documenting fiduciary processes. A CPFA can also help implement plan features such as automatic enrollment, Roth deferrals, and profit-sharing contributions to enhance plan participation and employee outcomes.
CPFAs also provide participant education services. This may involve one-on-one financial wellness sessions, group workshops, or online tools designed to help employees understand how to use their retirement plan effectively. These services can help improve plan utilization and ensure employees are making informed decisions about saving, investing, and planning for retirement.
Whether serving as a fiduciary consultant for a plan sponsor or as an advisor to a plan participant, a CPFA brings a focused understanding of retirement plan rules, risks and best practices. Their services are particularly valuable for those managing defined contribution plans or seeking to improve retirement readiness through better plan design and participant engagement.
The former is an excerpt of the following article: What Is a Certified Plan Fiduciary Advisor (CPFA)?
Written by Ashley Kilroy
Edited by Marie White, CEPF®
Edited by Arturo Conde, CEPF®
Reviewed by Brandon Renfro, CFP®, RICP, EA
Updated on September 8, 2025, 3:33pm ET | Fact Checked