We want to do the things that allow you to do what you do best.
You're a financial professional, not an ERISA plan governance expert. (Scroll down to learn what to do if you're captive.)
We know where you're coming from. We get it. You're a financial and insurance professional, and you've got your core-focus. This probably means that Corporate Sponsored Retirement Plans are like Greek to you. (No offense to any of our fine Greek friends.) If you have or come across sponsored plans opportunities you have a few choices, assuming you don't want to run it yourself. You can partner with a provider, but they're conflicted. You can run away from it as fast as possible, which seems to be a growing trend. Or you can Partner with us. See, we don't do what you do, so there's no conflict. We don't do participant advice or rollovers, or wealth management or private client, or insurance. To put it bluntly: we're not an "and" company. We don't do something else "and" plans. We simply do Plans. It's in our name as well as our DNA.
Call us: 440-345-8003. Call today, partner tomorrow.
Okay, you're still reading. That means you haven't called... because you're skeptical. That's alright, we get it, you want to learn as much as possible before even considering using a strategic professional ally.
Let us begin with basic business philosophy:
Sponsored Retirement Plans such as 401(k) and Wealth Management don't mix. Nor do CPA/Wealth Management and Retirement Plans. Or any similar combination you might come up with. Banks that also offer 401(k)? Minimalistic and conflicted, in our professional opinion. How about "producing TPAs"? Clearly not in the best interest of the plan or its participants. Custodians that also do wealth management and rollovers, and offer investments? That's like buying a car from your corner gas station/repair shop. Which brings us to you, and your reason for being here...
You're highly specialized and focused on doing what you do best. What would you want with another set of fiduciary Scope of Service Agreement and Fee Disclosure documents? You don't want them... but we do. We will step in to aid in the RFP and sales process, navigate provider analysis, fee benchmarking, plan and investment analytics, and ongoing administrative support.
If you're thinking at all about going independent... even just a little, don't use your in-house "Regional Specialist"! You'll have trouble moving the plan and it will be assigned to the next Advisor to fill your office. Work with us instead; we don't care where you are. Plus, once you're independent, we can get you paid... probably more, and without the fiduciary role. We do this by establishing a fully disclosed Solicitor's Agreement. We'll help run the plan, freeing you to work more closely with the individuals, while paying a solicitor's fee.
Plus, we're arm's length, other people at your firm are not. There may be internal politics/pressure to use your "Regional Specialist", but there is absolutely nothing stopping you from providing personal financial services to employees of any firm anywhere, regardless of where the plan is. If you're not really interested in plan governance, call this having your cake and eating it too.
We don't do rollovers.
You heard that right: we do no wealth management for Participants. That includes rollovers.
So, what this means is: let's say you come across a 401(k) plan opportunity. If you're old school, attempting to be a Jack-of-all-trades, you might simply broker the deal, acknowledging no active role in the plan, and turn the plan over to a service provider such as an insurance company or investment firm, but we all know this is getting harder to do. The old days of Brokers collecting fees and trails on ERISA covered plans and then selling ancilary investments to the highly compensated and claiming no Fiduciary role are over. And what happens if you actually do fill the role of Advisor to the plan? What if you occassionally answer a few questions about fund selection or suggest design or default changes? Are you a deemed Fiduciary on the plan? If so, can you also fill non-fiduciary activities such as rollover education... and then open rollover accounts? Don't accept such conflicts of interest, they'll harm your practice and they're not in the best interest of the client.
For far too long, plan providers have hoped you'll turn a blind eye to conflicts of interest, revenue sharing, and minimalist plans. It's time to say "enough!". It's time to partner with a specialist.
Have your cake - without having to bake it - and eat it too!
Let's face it: why do you want the sponsored retirement plan? Because it's a good way to meet people who need Wealth Management or other services, right? What if you could have all of the wealth management, rollovers, and insurance business, without stepping into any role whatsoever with the plan? Now you can.
Imagine for a moment the "wirehouse model". If you're with a wirehouse, you should proptly stop reading this, go down the hall, and meet with your approved ERISA Retirement Plans Specialist. You'll find them listed under several different designations, depending on which firm you're with. By the way: there is nothing beyond the political will of your Broker/Dealer forcing you to work with that person. You're welcome to partner with us also. If you're not with a wirehouse, why not align yourself with a few strategic allies to help you win and retain new business? CPAs? You likely know a few who make you look good. Attorneys? We're sure you wouldn't have made it this far without at least one really good one. Now it's time to add a dedicated Plan Advisor to your elite team of situational partners.
Call today! Whatever you do, don't touch that plan!
Don't wait until you lose a plan, regulators show up, or you suffer a lawsuit. Call today. We're the friendliest Plan Advisors on the planet. We're not doing something else and plans, we're the plan specialists.