In response to an expanding client service need, Drinker Biddle & Reath LLP today announced the launch of its ERISA for Financial Services Team. This unique and growing group of lawyers will assist clients in the financial services area on navigating the intricacies of operating a retirement plan and ensuring compliance with ERISA as well as other closely regulated laws and agencies.
“Drinker Biddle has taken a leadership position in the legal market by assembling a team that is specifically focused on service providers to plans,” said Fred Reish, a partner in the firm's Employee Benefits & Executive Compensation Practice Group and chair of the Financial Services ERISA Team. “Because of the complexities in operating these plans, service providers need legal representation that focuses on their needs and delivers advice that is based on knowledge of their business and of the governing regulatory authorities.”
To deliver the required level of service, Drinker Biddle has assembled a group of benefits lawyers who focus on representing plan service providers and who practice across technical subspecialties that will guide ERISA plan clients through the necessary level of compliance, the regulatory impact of providing fiduciary services and the often costly pitfall of prohibited transactions. The group received a healthy boost with a team of 11 lawyers who joined the firm from the well-regarded Los Angeles boutique firm of Reish & Reicher in March.
“We are pleased to offer our clients this much needed service,” said Howard Levine, chair of the firm's Employee Benefits & Executive Compensation Practice Group. “Providers to ERISA-governed retirement plans need to comply with ERISA’s reporting and disclosure, prohibited transactions and fiduciary rules, and our experienced and creative team enables clients to navigate this challenging environment.”