Two of the most common challenges faced by business owners are hiring/retaining talent and dealing with taxes. Retirement plans are an excellent tool to tackle both. However, managing a corporate retirement plan is complex especially when taking into consideration maximizing plan contributions for the highly compensated.
How we simplify the complex
Whether you currently have or want to implement an ERISA based plan, or need to determine which plan is best to meet your goals, you need to have confidence you have a capable and experienced team by your side.
Plan Consulting
- Understand the needs and objectives for both the business owner and their employees. Then select the plan, or combination of plans, that best accomplishes the objectives of each
- Identify and evaluate key plan features
- Assist in mitigating compliance and fiduciary risk to protect trustees
- Establish long-term goals and objectives of the plan/plans selected
Fiduciary Best Practices
- Perform fiduciary assessment to identify plan’s adherence to DOL, ERISA, and industry best practice standards
- Assessment consists of three phases: evaluation, recommendation, and implementation
- Present written reports to support fiduciary compliance in case of DOL audit
- Assist in mitigating compliance and fiduciary risk to protect trustees
- Research and recommend well-vetted investment options to retirement plan clients within the guidelines of the plan’s IPS
- Contract as a co-fiduciary, accepting liability in writing for our advice
- Assist trustees and Retirement Committees to develop fiduciary processes that are definable, measurable, and repeatable
- Provide comprehensive administrative service and support
Employee Education
- Annual group meeting for all employees reviewing the plan's benefits and features, together with reviewing pertinent financial planning principals
Investment Advisory
- Collaboratively establish, maintain, and review the plan's guiding Investment Policy Statement (IPS)
- Perform detailed investment research and due diligence
- Evaluate, recommend, and monitor the plan's investment options for compliance with IPS
- Review reasonableness of all investment expenses and fees
- Deliver regular investment monitoring and reporting
Service Provider Management
- Identify plan services and products for fiduciaries
- Lead process to select, monitor, and replace service providers
- Conduct RFP due diligence
- Benchmark the reasonableness of outside service provider fees
Participant Financial Planning Advisory Services
- 1:1 quarterly access to CFP Professional giving plan participants conflict free fiduciary advice
Independent Fiduciary partner
- CONFLICT-FREE AND CUSTOMIZED FIDUCIARY EXPERTISE
- Avoid conflicts of interest that may be present in other models by remaining fully independent, establishing transparent fees for service, and always placing client interests first
- Assist in mitigating compliance and fiduciary risk to protect trustees
- Research and recommend well-vetted investment options to retirement plan clients within the guidelines of the plan’s IPS
- Contract as a co-fiduciary, accepting liability in writing for our advice
- Assist in mitigating compliance and fiduciary risk to protect trustees
- Assist trustees and Retirement Committees to develop fiduciary processes that are definable, measurable, and repeatable
- Extensive operational expertise to assist in implementing best practices for plan delivery
- Implement custom risk-based models to support participant asset allocation and investment selection
- Provide comprehensive administrative service and support
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