This page consists of recommended service providers for setting up retirement plans such as small business 401(k)s, SIMPLE IRAs, and Defined Benefit/Cash Balance Plans. If you are business owner with employees, besides you and your spouse, you need to do a study of your practice.
Sometimes it makes sense to use a SIMPLE IRA. Sometimes it makes sense to use a SEP IRA. Sometimes it makes sense to use a real 401(k). The providers listed on this page can help you to do the study and figure out what is best for your company.
Emparion
At Emparion, we work with physicians nationwide on tax efficient retirement structures. Our strategies include cash balance plans, defined benefit plans, 401ks and other retirement vehicles. Our goal is to educate our clients on retirement strategies that aren’t often understood or implemented by CPAs or financial advisors. Many of our plans allow our clients to contribute in excess of $100,000 annually and get a full tax deduction. We are third-party administrators and not financial advisors or custodians. This allows you to use our plans with your current financial advisor or even at custodians like Charles Schwab, Vanguard or Fidelity. We examine your situation and offer strategic advice to lower your tax bill and help you grow your retirement. Contact us today or call us at 1-844-340-1000 for a free, customized cash balance plan illustration or retirement consultation.
Fees:
We provide free illustrations and a consultation to inquiring business owners.
Typical set-up fee for a 401(k)/profit-sharing plan:
Owner Only Plan is $540
Safe Harbor & Profit sharing with participants $850
Typical annual cost for a 401(k)/profit-sharing plan:
Owner Only: $540
Safe Harbor + Profit Sharing: $850 + $100 per participant
Typical set-up fee for a defined benefit plan:
Base price (includes 1 owner): $990 + $150 per participant
Typical annual fee for a defined benefit plan:
Base price (includes 1 owner): $1950 + $150 per participant. There is no AUM fee.
Contact Info:
Chandler, AZ, [email protected], (844) 340-1000
iQ401k (Division of FPL Capital Management)
iQ401k (Division of FPL Capital Management) offers a true “open architecture” retirement plan platform using Vanguard Retirement Plan Access™.
They provide ERISA 3(38) and 3(21) fiduciary services for 401(k) and Defined Benefit/Cash Balance plans. They are also CEFEX Certified.
Plan features include Pre-Tax, Roth, After-Tax (Mega Backdoor Roth), and Self-Directed Brokerage Accounts, robust investment lineup consisting of low-cost passive index funds, and professionally managed asset allocation models.
They specialize in medical and law practices. Services are offered on a flat-fee basis. Base annual fee of $2,500 plus $200 per participant, with a one-time setup fee of $2,500 plus $100 per participant. For new or start-up plans, they charge 70 bps (0.70%) of assets till plan assets reach $357,000.
You can call them directly 888-401k-375 or email them at [email protected]
- Services: Workplace retirement plans
- Fee Structure: Flat-fee
- Location: Metairie, LA
- Application, ADV2
- Website, [email protected], (888)401K-375
Fee Structure:
Base annual fee of $2,500 plus $200 per participant, with a one-time setup fee of $2,500 plus $100 per participant. For new or start-up plans, they charge 70 bps (0.70%) of assets till plan assets reach $357,000.
Litovsky Asset Management
Litovsky Asset Management Vetting Application
Litovsky Asset Management offers comprehensive retirement plan advisory and investment management services. We set up and manage retirement plans including 401(k) and Defined Benefit/Cash Balance plans for solo and group medical and dental practices, and we serve in an ERISA 3(38) fiduciary capacity. Our clients are almost exclusively doctors and dentists, and our retirement plan services are offered nationwide.
Konstantin Litovsky is the founder of Litovsky Asset Management. As an ERISA 3(38) fiduciary, Konstantin’s job is to make sure that your practice has the best plan cost effectively and that your plan is managed prudently so that your plan sponsor fiduciary liability is minimized. If you’re looking to set up a 401(k) or a Cash Balance plan for your practice contact Mr. Litovsky.
Fees:
We charge a flat/fixed fee rather than an AUM fee and we use low cost index and passively managed funds (including Vanguard and DFA) to build model portfolios with an average expense ratio of 0.14%. Retirement plan advisory fees range from $3,600 – $20,000 with discounts available for multiple plans, and no fees are ever taken out of participant accounts.
Contact Info:
Sarasota, FL, [email protected], (508) 292-8380