Retirement Plan
Resources for
Benefits Managers
Retirement Plan Resources for Benefits Managers
Our Retirement Plan Services
For the Employer
Investment Policy Statement development
Investment Policy Statement review
Periodic Investment Scorecard reporting
Facilitate plan committee meetings
Recordkeeper vendor management
Vendor fee benchmarking
Availability to HR staff for emerging issues
Serve as an ERISA 3(38) Fiduciary
Service calendar and stewardship report
Provide committee meeting minutes
Service and fee benchmark
Unique and proprietary plan-level reporting
For the Employee
Employee financial engagement meetings
One-on-one meetings
Advice on any financial topic at no additional cost
Provide advice on plan investment selection
Customized Retirement Spending Reports
Availability of individual tailored financial plans
Employee financial wellness education
Planned, understandable, actionable curriculum
Tailored education for online wellness tools
One-on-one Q&A on any financial topic
What Sets Us Apart
Wellspring Financial Partners is committed to making your ERISA retirement plan work for you as the employer and for your employees. We do more than just what is required by ERISA; we do what is needed to make your plan excel.
We don’t just provide a menu of choices along with a recommendation. We tell you exactly what we think you should do and then implement it for you.
As an ERISA 3(38) fiduciary, we reduce your liability as an employer and are held to higher standards both legally and ethically.
Wellspring’s value consistently far exceeds the costs when objectively evaluated by a 3rd party nationally recognized benchmarking service.
What Impacts Employee Results
What Impacts Employee Results
In the long term, your company’s retirement plan needs to help your employee successfully fund their retirement. Keep an eye on the ball by understanding what your employees need you to focus on.
We’ve found that the below factors are the most essential:
A Better Advisor Search Process
Let’s face it, the Request for Proposal or “RFP” process is cumbersome, difficult, and time-consuming. It is necessary in order to document your due diligence, and if you are going to spend the time, it’s important to get corresponding value from the process.
Key factors to address with potential advisors include:
What to Consider
What to Consider
Minimum Qualifications
Ask qualifying questions that determine an advisor’s viability.
Verify they are licensed, registered, qualified, not under investigation, etc.
Document that you have examined the minimum qualifications.
Ability to Serve Your Company's Needs
Cut through the noise and ask three simple bottom-line questions:
How will you help my employees achieve better results in the company retirement plan and in their overall financial well-being?
How can you minimize the fiduciary liability and exposure to the plan fiduciaries?
How will you make life easier on the human resources/benefit team?
Cost
Determine the cost for services included.
Determine what services come with additional costs.
Seal the cost section and do not disclose it to your plan committee/evaluation team until you have evaluated the advisor’s ability to serve your company’s needs. Focusing too much on cost before determining the value an advisor brings can often cause problems.
Cost
Determine the cost for services included.
Determine what services come with additional costs.
Seal the cost section and do not disclose it to your plan committee/evaluation team until you have evaluated the advisor’s ability to serve your company’s needs. Focusing too much on cost before determining the value an advisor brings can often cause problems.
