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.
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.