⬤ USA Today
2023 Best Financial Advisory Firms
usa today best financial advisory firms 2023 logo for wellspring financial

Award based on independent survey carried out by USA TODAY and Statista. Firms need to be nominated by a participant in the survey. No prior registration is required, and no costs are involved for the nomination. The recommendations for each firm are summarized and evaluated anonymously. 
In addition to the survey results, additional metrics (e.g., data in relation to assets under management (AUM)) will be included in the final analysis.

● USA Today
2023 Best Financial Advisory Firms
usa today best financial advisory firms 2023 logo for wellspring financial

Award based on independent survey carried out by USA TODAY and Statista. Firms need to be nominated by a participant in the survey. No prior registration is required, and no costs are involved for the nomination. The recommendations for each firm are summarized and evaluated anonymously. 
In addition to the survey results, additional metrics (e.g., data in relation to assets under management (AUM)) will be included in the final analysis.

Retirement Plan
Resources for
Benefits Managers

Retirement Plan Resources for Benefits Managers

Wellspring Financial Partners is committed to making your Employee Retirement Income Security Act (ERISA) retirement plan work for the employers whose plans we manage, and especially the HR department. We bring your plan to life for your employees and make it easier for you. We will handle any issues that arise, talk with your recordkeeper proactively on your behalf, answer employee questions, and much more. This frees up more of your valuable time.
Play Video

Our Retirement Plan Services

Wellspring Financial Partners provides a rich suite of services for the employer and employee designed to make the ERISA retirement plan truly work for both.

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:

Financial planning
Holistic Planning and financial wellness
Employee engagement
A trusted, unbiased, non-conflicted partner
Customized Retirement Spending Reports (RSR)

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:

How are you going to make sure I am compliant?
How are you going to help my employees be more successful in their financial lives?
How are you going to do this without taking more time from me?

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.

A Retirement Plan That Helps Employers & Employees

Choosing a fiduciary for your company’s retirement plan is a significant decision. Wellspring can help reduce the time and effort you need to spend managing retirement plans as an HR professional, freeing you to focus on other pursuits.