Retirement Plan Consulting
Within retirement plans, the sponsor and other fiduciaries are held to a higher standard and require prudent guidance. Utilizing plan documents to define and implement procedures to educate you as the plan sponsor to increase awareness of what’s incumbent upon you. An established process is essential in order to exemplify fiduciary prudence.
• Participants being retirement-ready is something a fiduciary should never lose sight of. A corporate retirement plan is created to provide participants with the resources to retire well. Comprehensive life planning for you as the plan sponsor as well as the participants consequently leads to everyone being more engaged and tends to create well- informed participants who are more likely to take on a positive view of retirement.
There is no better time than the present to be sure you are utilizing your corporate retirement plan to its fullest potential by reviewing your fiduciary processes for monitoring the plan and current plan design. Taking action today to make the right decisions with your plan can help ensure retirement ready plan participants and mitigate fiduciary pitfalls.
Paradigm will work with you as a dedicated fiduciary guide to implement collaborative plan design. Sound plan benchmarking as well as investment selection and monitoring that are crucial to driving good participant experiences and assisting them in becoming retirement-ready.
• Effective plan design incorporates your company’s unique goals and demographics in hopes of creating higher participation and retirement ready employees.
• A central fiduciary responsibility is choosing the appropriate service provider to meet the stated goals of your retirement plan. Paradigm will act as your proxy during this process by developing a request for proposal and suits your unique goals by evaluating proposals and guiding the plan sponsor through any possible changes.
Investment Selection and Monitoring
• Utilizing the Investment Policy Statement that Paradigm assists you with creating, we will incorporate a documented due diligence process that encompasses a meticulous investment analysis. Paradigm will work with you and other plan fiduciaries to help mitigate poor returns or excessive fees by implementing a strict regimen for every step of the investment process.
Securities and Retirement Plan Consulting Program advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC.
Comprehensive Life Planning
Review of other life items
• Wills, Living Wills, POAs, Trust documents if necessary, taxable and non-taxable events, selling your share in company ownership, stock buyback plans, and other items that your plan may require to facilitate a truly comprehensive approach.
Lastly, planning for your legacy
• Proper planning will help ensure your loved ones and favorite charities can benefit for generations to come. Customizing a plan that not only preserves your assets, but also helps you share your wealth with the people and charities you care about most is extremely rewarding.
Can you define your life goals? Life goals can be travel, kids, college, weddings, travel and then retirement. Without defined goals, how do you create strategies? Within your life plan is:
Global Investment planning for funding.
• Working with you to wade through an overwhelming number of investment options, guide you through economic turmoil that may affect investments and maintain the right strategy to help pursue your stated goals. This is done with a review of all assets including 401(k)s, 403(b)s, Annuities, ISO or NQ Stock Options and Grants, Non-Qualified Deferred Compensation, Cash Balance Plan, Pensions, etc.
Review of Insurance and expenses
• Working with you to uncover potential savings and be certain of proper insurance to mitigate shortfalls in the life plan. Expenses range from mortgages, credit cards, cable and cell phone bills to whole life and universal life.
These are just a few of the questions that are taken into consideration when developing a plan to help protect the hours you have invested. It is also important for your emotional and monetary capital to pay you dividends.
Your business was built out of sheer passion and determination that was inspired by your vision. You want to see your business continue to grow upon that foundation.
Business Planning is much like the comprehensive life plan. We will carve our your goals for the business and define strategies to obtain those goals.
-How is the company set up? C-Corp, S-Corp, or are you currently an LLC or sole proprietor? What is the current revenue and employee count?
-What benefits do you currently offer? Are you considering or do you already have a 401(k), pension, deferred comp, or type of benefit program for your key employees?
-Do you have a succession plan for the business?
Let’s get started….
There is no better time than the present. You are at this point on my website because you seek guidance. Allow me a few minutes to demonstrate.