As part of a select group of advisors admitted into LPL’s Retirement Plan Consulting Program (RPCP), our team consists of over 40 employees holding many Actuarial, Retirement, and Financial/Investment Credentials covering every facet of the qualified plan market.
At Success Wealth Management, we maintain full plan accountability through systems and processes governed by a robust technology platform that currently oversees 8,198 plans with over $69 billion in assets under management.
Our exclusive 401(k) Fiduciary Service Solution provides our Sponsors:
Fiduciary Support
For most individuals involved in the management of a plan, being a plan fiduciary is a secondary role to your main position at the company, and one you may or may not be experienced at doing. For those appointed to help manage the employee benefit plan, there are rules outlined in the Employee Retirement Income Security Act you must understand and adhere to. Here at Success Wealth Management, we help you understand and meet the regulations through the following fiduciary services:
Audit File Development
Keeping files organized and centrally located is key to demonstrating prudence in the management of your plan. In the case of an IRS or DOL audit, it’s important to be able to access your files and that they be current and accurate. We provide the following services to assist you in maintaining an appropriate audit file:
Expense Analysis and Plan Benchmarking
Plan sponsors must regularly review plan fees to ensure they remain reasonable and that the services still meet the needs of the plan. We provide the following services to help plan sponsors meet this requirement:
Investment Selection and Monitoring
Market volatility makes it critical for retirement fiduciaries to develop and maintain investment due diligence procedures and supporting documentation. We will work with the retirement plan committee to help develop and maintain the plan’s investment strategy, which is defined in an investment policy statement.
We provide a comprehensive investment analysis by utilizing some of the most robust investment analytics available.
Performing this quantitative and qualitative analysis on a regular basis is essential to documenting compliance with Department of Labor guidelines and minimizing exposure to fiduciary liability.
Participant Enrollments and Ongoing Education
Participant Communication Services are an important part of our service model and include:
If you are looking for an independent firm that can truly provide objective advice, at Success Wealth Management, we look forward to the opportunity to serve your 401(k) or 403(b) plan.
This content was originally published here.