We built a retirement program, designed especially for businesses wanting to deliver a high-quality, cost effective, and efficient retirement plan to their workforce.
Our Program has the Advantage!
With over 25 years of experience in the Defined Contribution, Deferred Compensation, and Pension spaces, Lagos Wealth Advisors is well-suited to help your business by designing and maintaining a retirement program with a Advantages to other providers.
We serve as your company's Chief Retirement OfficerIt's not good enough for us to just service the business. Instead, we take a hands-on approach and work directly with your employees to help coach and guide them through retirement. This includes highly customized education and financial literacy programs, planning tools, and complimentary one-on-one direct advice delivered to your team.
You are busy. Call us first!We've heard it so many times before -- HR and Payroll Directors either don't know who to contact for plan-related issues or they sit on hold for hours waiting for a live representative. With our clients, you call us first. Sometimes, we will be your only point of contact and other times we will advocate on your behalf to get service items completed quickly.
We are looking out for you, the plan, and your employeesAs a co-fiduciary, we must put the plan, your company, and your employees' needs first. We are monitor all plan providers, provide you with a comprehensive quarterly review, and recommend changes to you. We are a named fiduciary under ERISA Section 3(21). For some plans (and in our PEP), we accept full investment discretionary fiduciary oversight as an ERISA Section 3(38) fiduciary. This is just one less thing for you to worry about.
Costs are important. We help you control costs.We are able to deliver our programs in a cost-competitive manner. In order to ensure that our plan costs are reasonable, we conduct a triannual live bid RFP system, where we don't just benchmark the plan to industry standards, we obtain actual live competitive quotes and compare the plan's fees to those. We are also able to leverage our economies of scale through our strategic partnerships to reduce costs in all aspects of the plan (recordkeeping, TPA, fund expenses)
Setting up a retirement plan doesn't have to be complicated!We have options for a "turn-key" retirement program through our pooled employer plan. If you want customization, we can build out a fully custom plan document and even create more complex plan designs (carve outs, cash balance plans, tiered profit sharing allocations, defined benefit plans, etc.). We determine which option is best after a full needs analysis. We are also able to convert existing plans into our program very easily.
The Advantage 401(k) Program offers industry-leading features:
- An industry-leading technology platform for employees to enroll, see their account balance, change investments, etc. (website and mobile app).
- Custom employee education programs.
- Access to our Fiduciary BriefcaseTM - an integrated platform to keep all plan documents and reports.
- Regular fee benchmarking to ensure that all plan fees are reasonable and appropriate.
- A process to document every decision you make on the plan and support those decisions with data.
- Access to proprietary investment programs only available through our strategic alliance with the Retirement Plan Advisory Group.
- Deep investment analysis provided through our network of Chartered Financial Analysts and Accredited Investment Fiduciaries.
- All investment lineups supervised by a 3(38) investment fiduciary with the ability for full customization.
- A customized Investment Policy Statement.
- Assistance setting up your benefits committee (including charters and board resolutions, if needed).
- One-on-one financial wellness consulting with your employees at no additional cost.
- Direct guidance with participants for rollover requests and distributions.
We offer a cost-effective turn-key Pooled Employer Plan (PEP)!
The Advantage 401(k) Pooled Employer Plan is a perfect option for startup plans and those with limited assets. This might even be an excellent alternative to CalSavers, SecureSavings, or other state-mandated retirement program.
Other 401(k) Plans
Advantage 401(k) Pooled Employer Plan
Fully bundled and turn-key.
This includes all your administrative work, recordkeeping, compliance, bonding, and fiduciary oversight including singing the form 5500 on your behalf and even managing participant transactions and distributions.*
Investment Fiduciary Oversight
The investment fiduciary** should have full control over the plan's investment options including the selection and monitoring of a Qualified Default Investment Alternative. Your advisor should report to you on a quarterly basis how each of the funds are performing, based on a preset investment policy statement.
Customized Employee Engagement Program
Your employees need to be engaged! Having an education and engagement program built around your employees and their needs is critical. This should include enrollment meetings, regular financial literacy content, and one-on-one sessions with employees.
Unique and Tailored Plan Designs
There are a variety of plan designs that can work for a business including Safe Harbor Designs (allowing the owners to contribute up to the IRS annual maximum without the need for certain plan testing), Profit Sharing Designs (allowing for larger contributions for owners), and Defined Benefit Designs (allow for much larger company contributions each year. Maximizing a cross-tested plan design can allow for a deductible contribution of over $300,000 in 2023!***
A Retirement Plan doesn't have to be expensive. Our Pooled Employer Plan is designed for startup plans, plans with low-assets, and those who are looking for an alternative to CalSavers, SecureSavings, or other state-mandated plans.
Great Technology and Ease-of-Use
Let's face it, your employees live on their devices. All aspects of the plan should be available to be accessed from an easy-to-use app. Also, a 401k should fully integrate with your payroll provider so that you don't have to manually enter contributions each payroll. We've got your back!
* Plan 3(16) fiduciary services provided by AdvisorTrust, LLC, Recordkeeping and administration services provided by PCS Retirement.
** Plan 3(38) fiduciary investment services provided by Lagos Wealth Advisors
*** Statutory limits apply. See IRS Publication 560. Maximum contributions may only be reached after plan actuarial testing has been completed. We work with plan actuaries to conduct appropriate analysis and testing for compliance.
Our memberships include:
Retirement Plan Advisory GroupOur membership with RPAG gives us direct access to a team of CFA for investment management and analysis. RPAG is also our technology partner for our quarterly fiduciary investment review reports, our benchmarking process, and our plan review reports. As a member of RPAG, we are able to leverage their over $800 Billion in assets under influence, 80k+ retirement plans served, and over 7 million plan participants*. This gives us more bargaining power and both depth and breadth of experience in the retirement plan space.
flexPATH StrategiesThrough our partnership with RPAG, our clients get access to the flexPATH strategies series of Collective Investment Trust funds**. The FlexPATH strategies help clients balance the need for target-date options with varying risk glidepaths by designing target date funds that include both a vintage year and a risk glidepath. You can read more about the flexPATH funds here.
National Association of Plan AdvisorsWe are a member of the NAPA, which provides us with ERISA legal advice and information. NAPA is a member of the American Retirement Association, a leading think-tank for the retirement advisory business.
*Statistics as of 8/31/2021
**flexPATH Strategies® are Collective Investment Trusts available only to qualified plans and governmental 457(b) plans. They are not mutual funds and are not registered with the Securities and Exchange Commission. Wilmington Trust, N.A. serves as Trustee and is responsible for maintaining and administering the funds.
Read our resources and articles, available to plan sponsors and business owners through the 401(k) Retirement Times online blog.Access the 401(k) Retirement Times here.
Take the next step...
Reach out to us and we can provide you with a proposal for your company's plan. We are also able to generate a complimentary analysis of your existing plan. If you decide to not engage our services, the complimentary analysis report is yours to keep for documentation purposes that you've conducted a competitive analysis. Fill out the form below to reach out to us today.