The Platinum 401k can provide a dramatic reduction in your fiduciary liability, increase your operational inefficiencies, and remove your investment fund selection and monitoring duties. In many cases, there can also be a sizable reduction in overall plan costs (as much as 30% or more) thanks to the economies of scale that can be realized under our program. This can translate into a huge benefit for plan participants as well as employers!Multiple Employer Plans/401k OutsourcingOne of the most important services that we provide to employers is the ability to reduce their 401k plan fiduciary liability. The Platinum 401k program allows employers the ability to manage their corporate retirement plan solutions in much the same manner as they handle all of their other employee benefit programs. Instead of having to become personally involved with every aspect of fiduciary and regulatory compliance, our program allows employers the ability to outsource nearly all of these duties and responsibilities to qualified retirement plan consultants. We’ve been working with multiple employer retirement plan clients for well over 30 years, and we can show you how our program can reduce your company workload, lower your costs, and lessen your liability.
401K OUTSOURCING AND 3(16) PLAN FIDUCIARY SERVICE PROVIDER
Terrance P. Power, AIFA®, ERPA, CFP®, QPA®, CRPS®
Terry has been in the retirement plan industry for over 36 years. He is responsible for overseeing the operation of the firm as well as the overall marketing and communication strategy. Terry has been involved in the installation of over 3,000 retirement plans during his career and is widely regarded as an expert in the field. He has an extensive background in the multiple employer retirement plan field, having over 25 years of experience in this highly specialized area.
Terry is a frequent speaker at industry events and is often quoted in financial publications.
Certified Financial Planner® (CFP®)
Accredited Investment Fiducary Analyst® (AIFA®)
Enrolled Retirement Plan Agent (ERPA)
Certified Retirement Plans Specialist® (CRPS®)
Qualified Plan Administrator® (QPA®)
Chartered Life Underwriter® (CLU®)
Chartered Financial Consultant (ChFC®)
Certified Plan Fiduciary Advisor (CPFA®)W. Michael Montgomery AIF®, CLU®, CFS, TGPC, C(k)P
Chief Executive Officer, Fidelis Fiduciary Management
Mike Montgomery has spent more than three decades in the retirement plan business, including successful stints with leading retirement plan providers. Recognizing that many plan sponsors need assistance with fiduciary issues, Mike founded Fidelis Fiduciary Management in 2013, where he serves as ERISA investment fiduciary for over $800 million in retirement plan assets.A sought after writer, speaker, and expert focusing on industry issues and fiduciary practices, Mike was named to 401kWire’s 2010 list of 100 Most Influential People in Defined Contribution, based on reader votes, input from distributions and statistics about advisor practices gathered directly from nominees.In 2009 Mike’s advisory firm became one of the few to be CEFEX certified by the Centre for Fiduciary Excellence, as a fiduciary advisor to defined contribution plans, including certification of non- ERISA fiduciary practices for governmental entities.
His firm is of the few nationwide to achieve an independent certification for ERISA 3(38) services.
· Accredited Investment Fiduciary® (AIF®)
· Tax-Exempt & Government Plan Consultant (TGPC)
· Certified Fund Specialist (CFS)
· Certified Life Underwriter (CLU)
· Certified 401(k) Consultant (C(k)P) Affiliations:
· American Society of Pension Professionals and Actuaries (ASPPA)
· Florida West Coast Employee Benefits Council (Past President & Education Chair]
· National Association of Plan Advisors (NAPA)
· National Tax-Deferred Savings Association (NTSA)
· Retirement Plan Advisory Group (RPAG)
· The Retirement Advisor University
· Retirement Partners Group (LPL Financial)
How Will Your Retirement Plan Clients Respond If You Eliminate Or Reduce:
– Costly annual plan audit bills
– Annual Form 5500 submission hassles (we do these for them!)
– Fiduciary Investment Selection and Fund Monitoring worries
– Incomprehensible fee structures
– 408(b)(2) fee disclosure workload
– Plan document maintenance issues …..and much, much more!
Benefits To Financial Advisers And RIA’s
– Allows you to focus on your core business
– Reinforces your role as trusted adviser by introducing cutting-edge plan design structures
– Keeps you fully informed on all investment monitoring.
Does This Program Conflict With The Role Of The Local Adviser?
No! You remain the Registered Investment Adviser or Financial Adviser for your retirement plan client. You continue to manage the relationship and all ancillary business, and are compensated through your preference of fees or commission. You are simply outsourcing many of the traditional fiduciary and regulatory responsibilities to specialized 401k Investment Managers.
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