With its new program, Financial Plan is adding more transparency and cost-effective solutions to ERISA pensions, profit sharing, 401(k) and 403(b) plans.
The fee-only model of Financial Plan allows its advisers, who work as ERISA 3(38) fiduciaries, to put clients’ needs first and get away from hidden fees. Financial Plan’s advisers are not paid on commission, nor tied to any brokerage firms, platform providers, third-party administrators or investment companies.
“Our process allows us to take on certain liabilities associated with managing 401(k) plans that were previously left on the shoulders of plan fiduciaries,” said W. Devin Wolf, wealth manager at Financial Plan. “By rethinking every step of the process, we have built a program that benefits plan participants, not brokers.”
Financial Plan works with plan sponsors and administrators to ensure plans are designed in a simple way to accomplish goals. The advisers also focus on participant education, which the company said is the “single largest factor in future success.”
Additional information about Financial Plan’s new 401(k) branch is available at http://www.financialplaninc.com/401k.
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