Qualified Retirement Plans – 401k – 403b
As an independent registered investment advisory firm, AFMG provides consulting and investment advisory services to qualified plan trustees and the employees who participate in their plans. Since we have no entangling alliances, we are free to sit on our clients’ side of the table to create a plan that bests meets their corporate goals and fiduciary obligations. Because we are an independent RIA we can provide these services at a low cost to our clients.
Working closely with plan Trustees, administrators and plan participants we value risk mitigation above all else. We share our clients Co-Fiduciary status by establishing and maintaining a 10 point process. We have a team of investment advisors who specialize in retirement plans, we offer an array of services including but not limited to:
- Assisting retirement plan committees with developing, implementing, maintaining, and monitoring both their Investment Policy Statement (IPS) and Employee Education Policy Statement (EPS).
- Assisting with the selection and monitoring of investment options consistent with the IPS.
- Assuring that the lowest expense share class funds are used.
- Hold quarterly meetings with the committee to seek “best in asset class and asset sub-class” investment options.
- Create and maintain audit files to mitigate fiduciary liabilities.
- Hold employee education meetings and webinars that can include spouses of employees consistent with the EPS.
- Seek to enhance both plan participation and levels of contributions.
- Reduce time requirements for Human Resource staffs.
- Provide Retirement Concierge Services.
- Email financial advisory newsletters for plan participants if requested by plan sponsors.
We are platform agnostic, so we can assist our clients with the consulting services on their plan that most help them attain their specific goals with regards to plan design and implementation. A more detailed overview of our services follows:
We offer a full-service solution:
- Consulting advice on plan design and implementation.
- Investment Advisory Services – unbiased analysis to recommend investments right for the plan, and for the individual using the plan.
- Employee Communications are crucial to the success of a plan, for participation rates, appreciation of the benefit, and successful retirement savings outcomes.
- Recordkeeping & Administration – review and support of administrative systems provided by the selected vendor.
- Coordinate vendor selection and management
- Create and maintain Investment Policy Statement (IPS)
- Prepare a comprehensive evaluation of current Plan investments to the standards defined within the IPS and regulatory requirements
- Regularly review and monitor Plan investment alternatives, prepare formal recommendations to keep plan aligned with industry standards and IPS
- Coordinate implementation of any investment changes deemed appropriate by the Plan Committee, including communication with employees
- Evaluation and selection of QDIA (qualified default investment alternative) investment options
- Working to increase employee participation and appreciation
- Keeping the client up to date on regulatory changes
Plan Design Consulting
- Evaluation of design alternatives
- Safe harbor plans
- Automatic enrollment?
Employee Investment Education and Advice
- Highlight the importance of saving for retirement
- Explain the value of the employer match
- Assistance in choosing funds
- Understand risk
- Explain asset allocation
- Encourage diversification
- How the 401(k) fits in their larger financial picture
- Ongoing services for participants
- One-on-one support – in person, by phone or by e-mail
- Group meetings, seminars, WebEx’s and newsletters
Enrollment Support for Employees
- Provide information, answer questions, assist with paperwork
- Explain the importance of beneficiary designations
- Assistance for new employees
- Rollover decisions
- Assistance for departing for retiring employees
- Distribution options & Rollover decisions