You don’t need an IPS, but….

A lawsuit against Goldman Sachs reiterated one point that most plan sponsors and their advisors forget: an investment policy statement (IPS) isn’t required. However, Goldman Sachs is a financial powerhouse and its professionals had enough experience to pick investments. Unless you are a financial advisory firm, get an IPS because even with a good financial advisor, you’re not as sophisticated investor as someone who works on the Goldman Sachs

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