Coastal Financial Advisors

 

Retirement Plans

The United States Department of Labor
http://www.dol.gov/dol/topic/retirement/index.htm, has several important
documents that explore the nature of 401(k) plan costs.

These studies show how critical it is to thoroughly understand the nature of
retirement plan costs and how to control them. They provide important reading for fiduciaries responsible for company 401(k) plans and other fiduciaries.

We sit on the same side of the table as the fiduciaries of a plan so conflicts of interest disappear. This increases the chance that plan fiduciaries will prudently discharge their duties solely in the interests of the plan’s participants and their beneficiaries - as they are required to do by ERISA.

Among the most important duties of fiduciaries of 401(k) plans are the duties to diversify the risk of plan investment options and control plan costs. By minimizing the risks and costs of the retirement plans for which they are legally responsible, fiduciaries can further significantly reduce their personal exposure to liability.

The best way for fiduciaries to fulfill their duties of diversification and cost control is to offer plan participants a prudent range of low cost, broadly diversified investment options. We believe that our range of prudent and diversified investment options also offers plan fiduciaries an independent way of complying with the requirements of ERISA section 404(c).  Plans can be designed to your needs including options with automatic enrollment and ROTH 401(k). 

Financial sales people who work with retirement plans are paid on hidden costs.  Generally these are bundled plans with hidden costs.   Most of the arrangements are typically “bundled,” where an affiliated provider offers proprietary investments along with the administrative support. 

We analyze your current plan and make suggestions to provide a better plan for your employees.  Our plans follow the “open architecture” models.  This provides a win-win for your company.  You improve your fiduciary responsibilities and provide a better plan where you know what you are paying for. In addition, your employees win with a better retirement and stay with your company because you have better benefits thus you have lowered your hiring costs. 

What do we do for your plan? 

We provide the following key elements and services for Profit Sharing, Pension, 403(b), and 401(k) Plans:

  • Consulting on plan format, documents and design
  • Searching and selecting administration and trustee services
  • Plan sponsor-friendly contracts
  • Managing the participants enrollment process
  • Efficient record-keeping
  • Annual ERISA compliance reviews
  • Creating investment strategy and selection of funds
  • Low cost, broadly diversified model portfolios
  • Effective education of plan participants
  • Handling retiree rollover IRA accounts
  • Provide personal financial planning
  • Providing ongoing participant education and communications

Qualified Retirement Plans
Planning, Implementation, Operation, Compliance, Service and Support

Coastal Financial Advisors, Inc. acts as the Registered Investment Advisor. As an independent RIA we provide unbiased guidance, an independent fiduciary review, and investment analysis along with employee education services.

At Coastal Financial Advisors, Inc., our plans are “unbundled”.  There is no “soft dollar” compensation, no 12b-1 fees and most important no hidden fees.  Our fee structure is in plain English.

We believe that our team is likely to reduce your costs, improve your fund selection and enhance your ERISA fiduciary compliance.  Additionally, your employees will likely be better-off with an improved benefit.  Please call us for a complementary plan review.


For more information on Coastal Financial Advisors and the services we provide,
please contact us directly by calling 732-686-2330, or by filling out our online form.

 

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Coastal Financial Advisors, 503 Casino Drive - Farmingdale NJ 07727 - Phone (732) 683-2330

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