Can trustees who rely on competent outside advice be held personally liable once that advice turns out to be wrong?
What was at stake
Plan participants sued the trustees over an investment made on the recommendation of an outside consultant.
How we ran it
We built the defense around the trustees' process: who they asked, what they were told, and how they tested it.
The outcome
The court affirmed judgment for the trustees on the claims against them personally.
Claims against the consultant continued separately.
The turning point
Minutes showed the trustees had questioned the advice and documented why they accepted it.
The lesson
A careful, recorded process is the trustee's best protection. Outcomes alone do not decide liability.
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