Preferred Providers
As an outsourced professional Fiduciary Adviser, Fi401k believes strongly in open-architecture investment environments that afford plans access to institutional share classes. Furthermore, as we do not believe in the industry practice known as "revenue sharing", we also prefer “concession-neutral” providers. These types of providers are generally investment agnostic and provide for the capture of all forms of revenue sharing payments from the investment providers (“concessions”) AND return of such concessions to the plan – at the participant-level. As a result, the following firms are our preferred providers:
ePlan Services is our preferred provider for plans with less than 50 employees and under $2 million in plan assets. By utilizing one of their private-labeled programs – called 401keSolution, we have access to a fully-bundled 401(k) solution that has been specifically designed for small businesses. Their program(s) are very competitively priced and offer access to many of the “bells and whistles” that typically only come with much more expensive products.
Paychex Retirement Services is our preferred provider for plans who wish to have their payroll and 401(k) integrated and synchronized. By utilizing their OpenFund Select program, we have access to a competitively priced 401(k) solution that provides the convenience and efficiency of payroll-integration. In addition, OpenFund Select is supported by a national field force who can provide local support to clients – including on-site enrollment meetings.
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Lincoln Trust Company is our preferred provider for plans with more than 50 employees and over $2 million in plan assets. Lincoln Trust can function as either a full-service “bundled” record-keeper and third party administrator (TPA) or serve in a record-keeping only role alongside a local TPA. Through our negotiated pricing structure, we have access to a competitively priced solution for the full array of defined contribution plans. LT Trust was acquired by American Trust, but rest assured our partnership is honored.
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Introducing Our Newest Preferred Partner Solution: The Pooled Employer Plan
July Business Services is our preferred Pooled Plan Provider, for plan sponsors who want an affordable, modern, unabridged solution with 3(16) plan administration and 3(38) investment management. We partnered with JBS to expertly craft our custom turn-key, "Fi401k PEP", complete with efficient payroll-integration, and assumption of your ongoing administrative responsibilities. An excellent qualified alternative to the state-mandated AutoIRA programs for companies of all sizes, alike.
An exceptional solution for plans with 100 employees or more, that want to put their retirement plan on "auto-pilot"; a PEP eliminates the need for an annual audit and an individual fidelity bond, while improving investment fund performance with comprehensive fiduciary oversight. Likewise for plans with less than 100 employees, a PEP dramatically cuts the employer-paid and plan-paid costs alleviating the administrative and regulatory burdens of offering a private retirement plan.
Contact us today to find out if a Pooled Employer Plan is the right fit for you.