I use a broker and it's his liability, not mine

Many plan sponsors utilize the services of a broker (someone licensed to buy and sell securities under the auspices of a Broker/Dealer firm) and feel that if there is any problem with the investments chosen by the broker, the broker has the sole liability. In fact, the broker may well have liability, but you are the fiduciary and you cannot escape, unless he/she is a qualified investment manager or advisor that signed on as a co-fiduciary in writing under 405(d)(1) giving you statutory relief. You as the fiduciary will be held liable and your personal assets will be at risk. Lose the lawsuit first, and if you have any money left, sue the broker.