Coaches should coach, Players should play, and Administrators
Coaches should coach, Players should play, and Administrators should administrate. - Lou Holtz My 401(k) Journey Traditional 401(k) Providers Mutual Fund Platform Insurance Cos. Platform Broker-sold Products: Pay Commissions on Assets Inhibit Fiduciary Advisers
Broker-sold Products: Pay Commissions on Assets Inhibit Fiduciary Advisers Proprietary Plan Services: Participant Recordkeeping Plan Administration Outsourced Plan Services: Participant Recordkeeping Plan Administration Outsourced Investments: Retirement Shares Reliant on Revenue Sharing Proprietary Investments:
Retail/Retirement Shares Embedded Revenue Shares 4 Mass Mutual, John Hancock, Nationwide, Voya, Principal Group The ABCs of Mutual Funds How? The 401(k) Industrys Dirty Little Secret! 401(k) Industry has created ways to layer additional add-on fees such as:
Front End Load Fees Back End Load Fees Finders Fees 12(b)1 Fees Create ways to pay RKs: Sub-Transfer Agency Fees Shareholder Service Fees A Shares: Front-end load (4%-5%) 12(b)1 Fees (0.25%)
R Shares: Class 12(b)1 Sub T.A. R1 1% 0.10% R2
0.75% 0.15% R3 0.50% 0.10% R4 0.25% 0.10%
R5 - 0.05% R6/Inst - 5 7 8
9 Adam Kelly 2008 Contracted Private Label Partner 401k Platform: Launched In 2008 Plan Sponsor Service Manager Plan Participant Service Team Open Architecture Platform: 401k eSolution
Our Unique Brand Proprietary Pricing Model Goal - Zero Business Cost Elimination of Add-On Fees 10 Who is ePlan Services? History 2008 Key Partners Founded in 1999: Mark Gutrich
Based in Denver, CO. Created Online 401k: Web-based System Traditional Service Bureau Participant Recordkeeping Plan Administration Established Leader: 4,600 401(k) Plan Clients 96,000 Plan Participants
11 13 14 $750,000 In Assets - ZERO BUSINESS COST! The Business Owner Monthly Fee Reduces as Your Plan Assets Grow Our Goal is Zero Out of Pocket Cost For Business Owner 100% Transparent 18 19
20 Sample 408(b)(2) Disclosure Red Dots Indicate Extra Add-On Fees 21 Sample 404(a)(5) Disclosure Red Dots Indicate Extra Add-On Fees 22 23 24
25 Mark M. Gutrich Managing Director Fiduciary Insight is an organization dedicated to assisting small business owners and their executive officers. As a Registered Investment Adviser (RIA), we provide services that range from providing investment benchmarking solutions to serving as the Plans designated Fiduciary Adviser. ERISA 3(38) Investment Manager: Under this construct, the employer-plan sponsor delegates full discretion over the designation and management of the plans investment options; whereby Fi401k performs as the plans designated Investment Manager. Consequently, the employer-plan sponsors sole responsibility is for demonstrating the prudence of Fi401ks appointment and remaining diligent in their oversight of Fi401k.
Fiduciary Affirmation & Warranty Fi401k Advisors, LLC will enter into a Plan Advisory Agreement with the employer-plan sponsor that expressly assumes fiduciary responsibility for selecting and monitoring the plans investment options. Furthermore, Fi401ks eFiduciary Adviser service is backed by a fiduciary warranty that is reinsured through an A-rated insurance company. As a result, the combination of our Plan Advisory Agreement and an Affirmative Fiduciary Endorsement will serve to protect employers and other plan fiduciaries from tangential liability insulating them from third-party claims arising from issues related to the plans investment selection and monitoring. Additionally, by delegating Fi401k Advisors as the plan fiduciary, we provide: Investment Policy Statement (IPS) to establish framework for fiduciary Prudence; Deliver quarterly investment reporting to demonstrate fiduciary Diligence; Recommend Investment Option changes (as necessary) to affect fiduciary Care; Diminished liability related to investment selection & oversight!
Fi401k Fund Score Card ISRP Details: The below tables represents the results of our analysis of each of the Plans existing Investment Options, for their specific conformance with the established investment review criteria (outlined in the ISRP); whereby Green = Compliant, Yellow = Caution and Red = Non-compliant. Investment Option: ABC Index 500 Fund (ABCIX) Large Cap Blend Fund Category: Trailing Historic Calendar Quarters ISRP Criteria Metric
? ? Historical Trailing Categorical Performance: 3 Year ? ?
Historical Trailing Categorical Performance: 5 Year ? Investment Style Consistency
MorningstarTM Overall Rating
MorningstarTM Risk Rating
MorningstarTM Return Rating Expense Ratio
Fi401k Plan Score Card ISRP Report Card: The below table represents the results of our analysis of each of the Plans existing Investment Options for their overall conformance with the established investment review criteria (detailed above). Thereto, we analyzed each Investment Options various characteristics against the quantitative and qualitative metrics provided in the ISRP and have color-coded the results for easy reference; whereby Green = Compliant, Yellow = Caution and Red = Non-compliant. Fi401k Watch List
Watch List Based upon the historical performance of the Plans existing Investment Options, the following table represents the average total return of the overall portfolio of investment alternatives compared to the most common broad market indices. # of ISRP Triggers Investment Option (Ticker) ABC Government Bond Fund (ABCGX) ABC High-Yield Bond Fund (ABCHX) ABC Index 500 Fund (ABCIX) 2 1 2
Notable Investment Changes: Listed below are the various changes that have occurred within each individual Investment Option, over the trailing 12 months, which have been color-coded to reflect their respective impacts to the ISRP Conformance Analysis; whereby Green = Positive, Yellow = Caution and Red = Negative. Investment Option (Ticker) ABC Government Bond Fund (ABCGX) ABC High-Yield Bond Fund (ABCHX) Date ISRP Alert(s) Impact
6-14-13 Morningstar Fund Star Rating Reduced from 5 stars to 4 stars. ? 7-01-13 3 Year Categorical Rank has fallen below 50th percentile ? 7-01-13 YTD Categorical Rank has fallen below 50th percentile
? Let Us Show You The Fees Copy of Most Recent Plan Statement: Listing of Investment Option (w/ Ticker Symbol) Assets held in each Investment Option Copy of your Retirement Plan Disclosures: 408(b)(2) Plan Fee Disclosure 404(a)(5) Participant Fee Disclosure [email protected]
HOW TO DOWNLOAD YOUR ADP FEE DISCLOSURES: The fee disclosures can be located on the ADP 401k website at: Resources > Plan Information > Fee Disclosure. There should be 2 fee disclosures which are the 408(b)2 EMPLOYER disclosure and the 404(a)5 EMPLOYEE disclosure. They should be in PDF. 31 ADAM KELLY Founder of eOnlineBenefits.com PRIVATE LABEL PARTNER of ePlan Services
MARK GUTRICH Managing Director Former Co-Founder of ePlan Services
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