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Our Work > 401(k) Management Case Study

Making your business our business.

Services Utilized

Plan Set-upPlan ConversionInvestor EducationAsset AllocationInvestment SelectionQuality Management

The situation

A surgeon and medical practice owner contacted us after his current 401(k) provider failed to contact him for his annual review. He had been unhappy with the service he was receiving and with the cost of the plan. It was also unclear to him if he was performing all the necessary fiduciary requirements for his employees as was required by the Department of Labor. After looking at his plan, there were only 3 possible investment choices and the average cost to participate was close to 3.5%.

The plan

We found new recordkeepers, third party administrators, custodians, and mutual fund options. Our firm took on the role of investment advisor and fiduciary advisor and we became the educator for the medical practice's participants. Implementation took about 5 months, but put the company in a much better position for success.

The outcome

As a result, we accomplished the following:Introduced better service (at least that's what we hear)Reduced the overall cost of the plan by nearly 2%Added more comprehensive and inexpensive investment choicesCreated risk-based portfolios for the participants

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