SERVICES FOR INDIVIDUALS

Retirement Plan Consulting for Small Businesses

Running a business and determining an appropriate retirement plan that meets the needs of the employees isn’t easy. In particular, many business owners hesitate because of what may seem like an overwhelming fiduciary role of having to implement and manage a retirement package while facing possible risks.

At Tailored Wealth Management, we assist small business owners with implementing and managing various retirement plans, whether you already have a plan in place or are seeking to implement one. Our goal is to help you feel confident with your plan and minimize the amount of work you have to do by offering several plan level services. These services are designed to help you reduce your fiduciary liability, optimize company retirement plan contributions to achieve objectives, and evaluate your plan service providers. Working together as long-term partners, our retirement plan services include:

Fiduciary Support

Liability is a significant concern for many business owners. Plan sponsors often struggle to address the challenges of regulatory and ERISA compliance, manage fiduciary risk, and adequately prepare participants for retirement. As an Accredited Investment Fiduciary®, firm founder Angelo Anello has specialized knowledge of fiduciary responsibilities and can assist you in implementing policies and procedures that meet a defined standard of care. He understands the fiduciary obligations associated with offering an appropriate qualified retirement plan, and he helps ensure there is a process in place to meet these responsibilities. By educating you on your fiduciary responsibilities, he can help you manage your risk.

Plan Benchmarking

It’s important to feel comfortable with the costs you are paying. We regularly conduct independent cost benchmarking and due diligence market analysis. This allows us to leverage a potential cost reduction for you from your service providers.

Plan Participant Education

We work not only with you but also with your board of trustees and employees. For the board, we hold quarterly reviews. For employees, we offer quarterly educational seminars that cover various financial planning topics and send out a quarterly newsletter regarding the 401(k) marketplace. In offering education, we aim to increase participation and deferral rates for your retirement plan.