Benchmarking vs Audit Evaluation
Benchmarking is outdated and tells you as a plan sponsor very little about the efficiency of your plan or how much liability risk to which you could be exposed. Benchmarking has also become so commoditized that financial service professionals perform them for nothing!
An Audit Evaluation is a more complete analysis of your plan. The audit evaluation covers participant contributions, employer matching structures, investment expenses, investment risk, investment diversification, professional fees & fee arrangements, services performed and liability risk exposures to plan sponsors.
If your plan could save thousands or even millions of dollars...
when would you want to know?
Simple adjustments to fund selections can add up to
significant savings over time by utilizing comparable funds
with lower expense ratios.
Fees to service professionals are also an area where plan
sponsors can see savings and these fees could actually be
Questions To Ask Yourself
1.) Who is being compensated and how are they being compensated?
2.) Is our plan advisor a fiduciary or a sales representative?
3.) Are our participants getting advice or generic educational recommendations?
4.) Do we have quality investments or are they just average?
5.) Is revenue sharing a part of our fee structure?
Not knowing the answer to any of these questions can be a breach of your fiduciary duties and cost participants future income!
Paying a service provider solely as a percentage of assets of the plan
means your fees could be going up while service stays the same and
no additional value is added.
If you decide to hire us as your Chief Fiduciary Retirement Officers, we work as a fiduciary in your best interest. We aim for transparency with our fees. They are calculated based on a combination of plan assets, total participants in the plan or services being performed.
We also lock in our price for three years unless there is a significant change in the number of participants added or reduced.
Driving plan fees and expenses down is a priority of ours, but not at
the expense of service or value.
Audit Evaluation Video
Before making any changes to your employer retirement plan, you need to fully understand how efficient it is. It all starts with a quality audit evaluation from an independent fiduciary.
Don't trust the 401K industry is really on your side. Many plans have been a cash cow for advisors and other service providers. We expose the "true" cost and value of your plan, helping you make better informed decisions as a fiduciary. Our primary goal is to help you as a plan sponsor realize how exceptional your plan could be.
To learn more about our level one audit evaluation, watch our short introductory video.
Once you watch, request to speak to one of our professionals and we'll send you a complimentary summary report of your plan.
Please watch this short educational video