An Important Decision
Employers and sponsors of retirement plans shoulder a major responsibility. They must select an appropriate service provider at a reasonable cost, determine the optimal plan design, choose and monitor investments, keep up with legislative changes, ensure the plan is administered properly, and educate and inform plan participants. Hopefully, the result is a plan that inspires employees to reach their retirement dreams, while helping the company recruit and retain valuable associates.
As financial advisors, we offer retirement plan expertise and are dedicated to the needs the employer and their employees.
Components of a Successful Plan
An effective retirement plan begins with sound plan design strategy and grows with attentive execution. Retirement plans have many different moving parts that must be coordinated to run smoothly and meet the needs of the organization sponsoring the plan. In general, all plans have the same basic objective: to serve as a retirement savings plan for employees. Yet there are many different retirement plan models that suit a wide range of specific company needs. The advisor's role is to help the employer set reasonable expectations, select the most appropriate plan, then manage all the components on an ongoing basis to help ensure the success of the plan.
Why you should use Honeycutt, Smith & Associates
We are objective and fully independent in making our recommendations. We have no incentive to sell any specific product, and we work with virtually all the different product providers in the retirement plan market. We assist companies in evaluating alternatives, selecting providers, and coordinating the plan components on an ongoing basis.
Providing Ongoing Plan Reviews
This includes enrollment, educational support and materials, and discussing overall plan service, operation, and results. We will monitor the service providers to ensure that they continue to meet the needs of the plan, replacing them if necessary. We offer a performance analysis at least annually of investments in the plan versus benchmarks and/or peer groups. We monitor the funds for adherence to the IPS and provide regulatory updates and information that is relevant to retirement plans.