WHY FINANCIAL PLANNING FOR SMALL BUSINESS OWNERS IS DIFFERENT
Businesses know that attracting and keeping talented employees can be challenging. What’s more, they face basic responsibilities and fiduciary duties when it comes to employee retirement plan management. Managing your 401(k) or other retirement plan requires specific knowledge, skills, and time that you or your team may not have.
THE CHALLENGES OF EMPLOYER-SPONSORED RETIREMENT PLANS
Employee retirement plan management is a specialized area of practice that requires servicing professionals with an in-depth understanding and knowledge of requirements for the unique challenges that often arise. A professional financial advisor can help you avoid liabilities and stay on track with your fiduciary responsibilities by managing your plan or by providing advice as a consultant. A dedicated specialist can assist you with a wide spectrum of functions surrounding operations.
Strategy consultation and monitoring
Our specialists assist with employee retirement plan design, implementation, and administration.
Executive Benefits
We assist you in attracting and retaining key employees with personalized analysis and tailored recommendations on executive benefit plans like deferred compensation, supplemental executive retirement plans, split dollar insurance, bonus 162 plans, executive estate planning, and stock options.
Investment menu design
We help you assess and maximize your current and future employer-sponsored benefits and offerings through fee analysis, plan benchmarking, provider search, and negotiation.
Co-fiduciary support
We help companies manage costs over time with plan administration and participation, compliance, and regulatory requirements. We’ll provide ongoing review meetings that cover administration, law changes, investment performance, and participant activity.
SELECTING AN EMPLOYEE RETIREMENT PLAN MANAGER
When searching for a service provider, consider the firm, affiliations, and experience with 401(k), 403(b), 457, TRS, and TSP planning, and assets under management (AUM). Also, consider their objectivity and ability to provide unlimited solutions to meet your needs, rather than a limited selection. Get a description of how plan assets will be invested and managed, and how your plan participant directions will be handled. Finally, review the firm’s performance record and the experience, qualifications, and credentials of the professionals handling your plan, along with any enforcement actions taken against them.
ARE YOU READY TO GET STARTED
We have plan specialists experienced in
- 401(k) Plans
- Simplified Employee Pension (SEP) Plans
- SIMPLE IRA and SIMPLE 401(k) Plans
- 403(b) Plans
- Cash Balance Plans
- Traditional IRA
- Profit Sharing Plans
- Roth IRA
- Defined Benefit Plans
We’re happy to discuss your specific retirement plan needs with you.
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