Your Company and Tax-Advantaged ERISA Retirement Plan

ARE YOU MISSING OUT ON YOUR RETIREMENT PLAN BENEFITS?

A retirement plan is not a benefit that only larger companies can offer to its employees. A retirement plan option is

becoming a ‘must have’ for any size business to attract and retain quality employees; however, many companies are not well informed about other tax advantages a good ERISA retirement plan can offer. Understandably, there are questions, doubts, and other unknowns that you, as a business owner, must navigate.

• Do you have enough participants to make it worthwhile to offer a retirement plan?
• How many hours do you need to allocate to implement a retirement plan properly?
• What are the risks involved with offering a retirement plan?
• Can I really have extra savings for the owners?
• And of course, how much will it cost?

We won’t sugarcoat the truth. For many businesses, it can seem like an enormous and complicated responsibility. However, Wellspring Financial Partners can help answer your questions and make the whole process easy and manageable.

THE KEY TO PLAN SUCCESS IS YOUR FINANCIAL ADVISORY TEAM.

Retirement plan investment management cannot be taken lightly. You have choices. You could educate and use your own internal resources or you could hire a professional plan advisor. Each has its potential drawbacks.

Be aware that all retirement plan financial advisors are not the same!

The most common advisor available is an Employee Retirement Income Security Act (ERISA) 3(21) advisor. This type of advisor is responsible for their analysis, tools and advice they provide to you on investments; however, most of the plan’s liability still falls on the plan sponsors, that’s you!

To address this liability concern, you need an advisor who can guide you while growing your and your employees’ retirement investments. As an ERISA 3(38) Plan Investment Manager, Wellspring Financial Partners can reduce
your investment choice liability. By choosing to use an ERISA 3(38) plan investment manager you transfer most investment choice risk to us, your investment manager, which makes it an optimal choice for you and your company!

CHOOSING A PLAN INVESTMENT ADVISOR

Wellspring financial Partners is committed to helping you make the right choices about your retirement plan. When comparing advisors, seven key features set us apart from the rest in the industry. Ask potential retirement plan advisors if they can answer “yes” to these questions. If they can’t, they aren’t the right partner for you. Wellspring Financial Partners can answer “yes” to ALL seven!

1) First and foremost, is your advisor a 3(38) Fiduciary? Remember, managing investment risk is a key responsibility you have as a business owner.
2) Do they tailor Retirement Spending Reports for every employee? Reaching out to your employees with easy-to-understand language and offering high quality material, shows you care about their financial success.
3) Do they offer a comprehensive financial plan for every employee? Wellspring believes it’s important to guide and motivate your employees using comprehensive planning. We charge a nominal fee of $160 for this service, which is typically valued at $2,200.
4) Do they provide special education sessions? Not just education about their 401k plan, but education for their whole financial picture.
5) Do they provide documentation that protects you, the Trustee? Wellspring includes an exclusive third party scorecard on plan investments that marks the best the industry can offer.
6) Do they have little to no change in their investments menu? If your investments are performing well, leave them alone. Wellspring Financial Partners has a five-year record of no investment menu change. It shows our investments are consistently and historically benchmarking well.
7) Does your Advisor provide a Fee Audit Report? Do they pledge to renegotiate provider pricing so your plan always stays on the front end of fiduciary practice and stays competitive?

WHO PAYS?

Wellspring Financial Partners is a “Fee Only” Investment Advisor; therefore, we work only for you and are compensated only by you. We are never pad commissions or receive any compensation from the investments we recommend.

AND FINALLY, THE DISCUSSION OF COST.

There is a misconception that a retirement plan is just simply too expensive to offer. It can be if you don’t
choose your advisor carefully.

We negotiate provider fees to keep them reasonable and competitive, saving the plan sponsors valuable time researching and comparing fees.

Wellspring Financial Partners will help you take advantage of the benefits a retirement plan can offer to help keep employees loyal and productive. As your 3(38) plan investment managers, we reduce the risk of trying to manage investments yourself, or using a basic 3(21) advisor. Save time and money by letting the experts assure you that the investments you are providing are the best that can be offered, and at the most competitive rates. Wellspring Financial Partners is committed to helping you offer a retirement plan that’s uncomplicated and gives you financial peace of mind with your retirement money.

Contact us for further information of our retirement advisory support and set up a time to discuss your specific questions directly.