Investment Consultant Launches 401(k) Solution for Small Employers

DiMeo Schneider will be a 3(38) fiduciary investment manager for the program.

DiMeo Schneider & Associates, L.L.C., a nationwide investment consulting firm, introduced a retirement plan solution exclusive for small 401(k) plans called SMART PLAN.

Under SMART PLAN, DiMeo Schneider will accept fiduciary responsibility as a 3(38) discretionary manager for plans with assets between $10 million and $30 million, including responsibility for selecting the plan’s investments, oversight and monitoring of the plan lineup. SMART PLAN also includes three recordkeepers—J.P. Morgan Asset Management, T. Rowe Price and Vanguard.                   

“Business owners and staffs are extremely busy managing the day-to-day. SMART PLAN offers a simple one-stop solution to save time and resources while providing enhanced fiduciary protection,” says Doug Balsam, principal and director of DiMeo Schneider’s Institutional Consulting practice. “There’s only three steps to SMART PLAN: A recordkeeper review, investment lineup design and ongoing fiduciary and administrative oversight. As a result, owners and staffs can focus on their business knowing they have a plan in place structured to help attract and retain top talent while giving participants a path to save for retirement.”

Services provided by the recordkeepers include integrated payrolls, participant notices, digital and mobile solutions, participant education meetings and ensuring plans are compliant on an ongoing basis.

DiMeo Schneider advises hundreds of retirement plans, nonprofits, private clients and financial institutions in 40 states. It has more than $67 billion in assets under advisement and more than $45 billion in defined contribution assets under advisement as of March 31, 2017. DiMeo Schneider is headquartered in Chicago with additional offices in Austin and Washington, D.C.

More information about the firm is at