Who’s guiding your company’s retirement plan?
Contrary to popular view, the main purpose for hiring a retirement plan advisor is not to pick investments or chase the highest rate of returns. It is the knowledge of process by which investments are selected and fiduciary standards are put into practice that makes a good retirement plan advisor indispensable.
As retirement plan advisors we have an innovative way to deliver the highest quality retirement plan consulting services to plan sponsors and retirement planning to their employees. One of the innovations is track whether or not employees are on track to retire. Many plans often judge success by the lack of employee complaints or by using well-known brand name providers. Unfortunately, courts have awarded plaintiffs multi-million dollar settlements against sponsors that used well-known brand name providers.
After reviewing the existing retirement plan landscape we found that many traditional retirement plan advisors often expose plan sponsors to a number of problems:
- Inherent conflicts of interest,
- Lack of accountability,
- Poor fee transparency.
Envision 401k Advisors sought a solution for Plan sponsors and the employees they steward that would solve these problems in an efficient and effective manner. We rejected the old, traditional way of working with plan sponsors and retirement plans and turn to developing a new, fiduciary-focused system built on the timeless values of trust, independence and what’s best for plan sponsor clients like you. The result of this effort is a pioneering consulting practice that offers:
- A conflict-free environment;
- Legally accountable advice;
- Complete fee transparency;
- The highest legal fiduciary structures available to plan sponsors under ERISA;
- Institutional-minded investment decision-making.
This retirement plan solution assists and guides plan sponsors through the intricate maze of ERISA fiduciary requirements. This is accomplished with a team of experts put in place to specifically meet your needs as a plan sponsor. All this is coordinated through your retirement plan advisor who serves as an investment co-fiduciary. Yes, we jump into the fiduciary fire and share in your risk. In fact, both LPL Financial and your Envision 401k retirement plan advisor serve as an ERISA section 3(21) co-fiduciary. Our collective expertise will assist you in providing the most appropriate tools for your plan participants and their beneficiaries.
Our association with LPL Financial also allows us to provide LPL Financial Worksite Solutions. If your plan allows 401(k) savings of $17,500, 5 star investments and no one can afford to retire, is it truly a success. We don’t think so. Our background as retirement planning advisors and Worksite Solutions is designed to address the issue of helping employees get on track to their vision of retirement success. We are consistently evaluating tools to help you carry out your fiduciary role as well as tools to help get your employees on track to retire.