One particular client had been with their 401(k) plan provider for more than a decade, but had not received much support or attention – the investments offered were never reviewed and employee education was essentially nonexistent.

When they initially retained our services, our first objective was to determine their priorities as plan providers. We ascertained that they wanted to contain costs, but that they also had an altruistic objective – they wanted their employees to be better prepared for their individual retirements.

Our first order of business was to review and recommend potential vendors that met their cost-containment goals, and to increase employee participation during the conversion process through communication and education.

As we continued to serve the client, we helped them develop an Investment Policy Statement, clarified the roles and responsibility of their fiduciaries, and provided ongoing support to keep key personnel fully informed on key factors such as changing regulations.

Today, we continue to help the plan sponsors manage their fiduciary duties by monitoring the plan’s investments on a semi-annual basis. If an investment is not performing adequately, we recommend replacement options. We meet with all employees upon eligibility and continually communicate the benefits of participating in the plan.

Our efforts have resulted in a high level of employee participation and client satisfaction. Their executives appreciate our ongoing dedication to their needs, and our professional relationship has developed into a positive, long-term experience not only for them, but for us as well.

The experiences listed here may not be representative of the experience of all clients and may not be indicative of future performance or success.