As an independent financial consulting firm, we can work with clients differently from the typical Client/Financial Advisor relationship that we see many companies experience.
Part of our role as retirement plan fiduciaries include ensuring that the fees our clients pay are appropriate and reasonable for the services they receive.
We prefer to be compensated on a fixed fee basis, which is determined by the number of participants in the retirement plan. We have found that this saves clients thousands of dollars in annual fees versus what financial advisors typically charge.
Typically, financial advisors charge an asset-based or wrap fee to manage retirement plans, which causes the fees to increase as the plan assets increase.
See examples in the Fee Comparison section below.
This means that when we start working with a client, you don't have to go through the process of changing your retirement plan provider.
You simply replace the current Financial Advisor and make us the Advisor of Record of the retirement plan.
As part of our standard service model, we implement our Business Consulting Program services package for the company and its employees.
Our fiduciary status requires us to align our interests with our client's interests.
We prefer to be compensated on a fixed per-participant fee basis for our consulting services, so your fees do not increase as the plan assets increase.
Below are some examples of the fees 401(k) plans incur by paying an asset-based or wrap fee compared to a fixed per-participant fee.