Price Transparency is here, is your business ready?
How are you prepared for this impact? How is your
TPA/Recordkeeper prepared for this impact?
More importantly how are your clients prepared?
GENERAL INTRODUCTION ON RETIREMENT
Along with our expertise on personal financial planning, our firm also commits to equally servicing the needs of All Retirement Plan Participants and Retirees in terms of plan design, coordinated investment strategies based on personal risk tolerance, true net cost for services rendered as a key determinant of ultimate performance and product selection, monitoring and replacement. We value each account regardless of size or proximity to retirement and will work to deliver net performance by delivering control over both the service and investment components of your retirement plan. This is after all your Plan not an insurance company or mutual fund plan; and it deserves the credo - "Large Plan Benefits for the Small Plan Market!"
Our goal is to support the management team either in fulfilling their duties as ERISA Fiduciaries or in outsourcing most of those responsibilities to trained trust and advisory resources. In this endeavor, we provide unbiased investment option selection, monitoring and replacement services, supplemented with a conscious effort to reduce product net cost by minimizing revenue sharing expense and purchasing services direct where possible.
Ultimate retirement account balances in a marginal market and economy are directly related to net costs. A 1% reduction in fees results in a 15% increase in participant account balances.
IMPORTANCE OF ADVISER CONSULTANT
Today's small businessman balances daily the responsibilities of running his business and/or running the employee benefit programs that directly impact hiring, firing and retention of key employees that add so much value to the business and the working atmosphere of that business.
An adviser is often met with the discouraging comment: "I'm primarily focused on running my business and have no time for changes in the employee benefit package by priority." The frustrating part is that in downsizing or outsourcing of jobs in small business brought on by the Affordable Care Act opens the door for an adviser consultant that has the knowledge to assist in options such as PEOs, H&W experts, MEPs that take on ERISA and investment liabilities and CPA, who are both knowledgeable in tax preparation and in enhancing your bottom-line.
An adviser need not just be trying to sell something, but a business partner that can work with you to out-source low-priorities and enable you to focus on making a weekly payroll or a professional backed by a network of regional CPAs, payroll services, bank trust companies and H&W experts will make your small business much easier to navigate in a sea of regulations and personal liability, that directly impact your equity value and responsibility to family and key employees.
SINGLE DATA POINT ACCESS
In looking at the retirement crystal ball, information access for employers and plan participants has to be simplified and more user-friendly. Our firm feels that consolidating data (for example payroll and 401k) on a single website will become an industry standard over the next five years; and having knowledge about this issue enhances our value proposition to the retirement market.
Enhanced Payroll 180 Platform - means that employee/Participant data is consolidated every pay period on a single spreadsheet for submission, both to the payroll company and to the 401k recordkeeper, thereby reducing both time and data flow every payperiod.
Enhanced Payroll 360 Platform - means that at the close of every business day, the 401k recordkeeper pushes data back to the payroll provider website, where employee/Participants can access both payroll and 401k data, thereby reducing information platforms down to a single medium.
If you would like more information about this unique approach, click here.
The continuing economic and market malaise is creating monumental changes in the retirement channel that impact Plan Sponsors directly as Plan Fiduciaries and as high-balance Plan Participants.Read More
WHAT IS A MEP?
Many of our clients are small companies that have neither the time, the buying power nor the knowledge to negotiate the best deal for their 401k participants. Our firm has created a mep...Read More
On July 1, 2012 the Feds are implementing a new program that requires complete disclosure of the cost for running your 401k plan. Over the years it has become normal for companies to pass most...Read More
Retirement Press brings you recent News Articles in today's retirement industry.
Rehmann, one of the largest CPA, business consulting and financial services firms in the Midwest, has entered into a strategic alliance with Centier Bank, a regional bank and trust company.
Centier Bank Selects Redhawk Wealth Advisors for Open MEP ERISA 3(38) Investment Management Services
Redhawk Wealth Advisors, Inc., a leading full-service turnkey RIA, has entered into a strategic alliance with Centier Bank, a regional bank and trust company.
Over half the respondents in a survey said they would consider switching or starting a new adviser relationship if the adviser developed a written retirement income strategy.
We all hit plateaus whether it be in exercising, weight loss or with your personal business goals.
New rules that would require definted contribution plans to express accounts as estimated lifetime income streams are being proposed by the U.S. Department of Labor.
As recently as just a few years ago, Advisors were able to get by with a very minimalist website with a logo, a bio, a photo...
In my 30 plus years in the retirement channel, I have had the misfortune of seeing too many breaches of Fiduciary Trust and have felt that in the retrement channel...
In a book THE HIDDEN BRAIN, I read with interest about the importance of 'group - think' in life or death situations.
They could represent about 22% of the target-date assets in four years, as investors seek to embrace alternatives and boost returns.
Exchange traded funds gain some traction, but will they be the 401(k)'s Betamax?
Even with disclosure, picking funds based on revenue sharing can be costly. Payola, is the illegal practice of payment by record companies for the broadcast...
NEW YORK - Investors are dumping Facebook's stock, spooked by slowing revenue growth, the lack of a financial outlook and plans to spend more money in coming months.