Pittsburgh based Focus 401K
Retirement Expertise & Financial Planning

We all know the retirement industry is complex. From our main office in Pittsburgh the Focus 401K team of advisors are licensed to serve clients in Pennsylvania, Ohio, Maryland and West Virginia.

Our team is knowledgeable on ERISA matters and are able to interpret the changing regulatory landscape and provide guidance and assistance in understanding and managing your fiduciary responsibilities as you plan for retirement.

Things to Look for include:

  • Retirement Focused
    Associated with or a member of a firm dedicated to the retirement plan business
  • Qualified
    Has experience, education and CREDENTIALS that prove competence in the area of retirement plan management
  • Industry Expertise
    Demonstrates advanced knowledge in the retirement plan industry
  • Industry Recognition
    Has been recognized in the retirement industry as a leader with a comprehensive service model

Unconflicted Services

When you hire an advisor to help with your plan, many plan sponsors assume they’re hiring a professional that is looking out for their best interests.

Not all advisors, however, are held to a fiduciary standard and it’s important to look for key items that show their duty of loyalty is to you rather than to their broker dealer.

 
These include:

  • Independent
    NOT selling proprietary products that are created by their firm
  • 3(21) and 3(38) Fiduciary Services
    Can accept investment fiduciary status in writing, offering advice and accepting liability, rather than simply providing recommendations
  • Fiduciary Standard
    Held to a fiduciary standard, meaning all recommendations must be in the best interest of the plan participants and beneficiaries, vs. held to a suitability standard that simply states recommendations must be appropriate
  • Open Architecture
    Can sell any investment or product and is not limited to only investments that pay revenue sharing

 

Value Beyond Investments

With the 408(b)2 and fiduciary rule regulations, you, as a plan sponsor, must demonstrate that the proper disclosures have been received, and that your plan fees have been evaluated and deemed reasonable in light of the services being offered.

When you evaluate the services received on your plan, it’s important to identify if your advisor is providing investment only services or if there is value that helps protect you as plan fiduciaries with service qualities that might include:

Time Tested Process

Has a comprehensive process that helps reduce plan sponsors personal liability by providing fiduciary education and managing risk.

Audit Trail

Provides an organized documentation system that helps plan sponsors demonstrate prudence in the management of their plan

Qualitative Analysis

Provides qualitative as well as quantitative analysis of investment options and provides recommendations based on future ability, not past performance exclusively

Legislative Assistance

The Focus 401K team provides assistance interpreting and applying regulations surrounding 401(k) plans such as the current 408(b)2 and 404(a) disclosure requirements. Also assistance with settlor and non-settlor expenses.