investment advisor over a portion of trust fund

[k man]

it seems to me an investment advisor could be responsible for a portion of the trust fund (certain investments) and not be responsible for other assets. If this is the case does it logically follow that an investment advisor can exclude employer stock from the assets for which he renders advice? if an IA did this and subsequent problems arrose with the stock and failure to diversify, could the IA be held liable for this failure to diversify?

[ljr]

Yes, a plan can have multiple investment advisors, each of whom is a fiduciary and responsible for managing the money under his control. You/your client should contact an ERISA attorney about the proper documentation for investment managers.