Choose your advisor carefully

The advent of fee and service disclosure rules have increased fee transparency but rather than being a game changer they have merely brought to light the numerous and important responsibilities that plan sponsors have. Plan fiduciaries have always had a duty to be aware of the fees being charged to the plan and monitor investments but many employers haven’t developed the processes necessary to carry out these duties. With 408(b)2 disclosure requirements in effect there really won’t be any excuse for not having these processes established.

Many employers mistakenly believe their broker or insurance agent will take care of these matters for them but those individuals often don’t have the experience this trusted position requires. Rather than help employers maximize the fiduciary protections they can inadvertently increase those risks.

Educators will tell you that it takes at least 10,000 hours of exposure to something to become proficient in that something. How many hours then does it take for an advisor to become proficient in plan design, investment selection and monitoring, fiduciary care, ERISA issues and plan service delivery platforms like open architecture? How many investment advisors even endeavor to become versed in plan design and administration or plan administrators in investment and fiduciary issues? Depth of experience is one of the reasons why we believe we are different from most in our field and uniquely qualified to partner with you to make your 401(k) plan succeed.

Isn’t it time for you to talk to people that specialize in retirement plans? If so let’s start a dialog. We can be of assistance as advisor to your plan using existing investment and administrative service providers or we can help with a plan evaluation and service providers search. We even have our own daily value open architecture platform that fits a certain plan demographic.

Get the most out of your plan and value for the dollars you spend. Give us a call or e-mail us. It’s that easy to start.

Kurt Millikin
(800) 586-5564
(206) 267-2315