As A Retirement Plan Sponsor, We Know You Have Questions

Written by Firethorn Wealth Partners

December 15, 2020

Are we paying too much for our plan?

It is the fiduciary duty of a plan sponsor to know the answer to this question. Firethorn will benchmark all of your plan’s costs to national standards for plans your size and number of employees. Our commitment is that we will help you negotiate and document that your plan costs are reasonable and fair.

Are we meeting our fiduciary obligations?

You will work with an advisor who has achieved the Accredited Investment Fiduciary (AIF) Designation from the Center for Fiduciary Studies. The AIF Designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care.

What is the headache or hassle to change retirement plan advisors?

In most cases you do not have to change or move your plan to a new provider to receive the benefits of working with Firethorn. We work with and within your existing relationships to improve your plan.

How can I help my employees understand and appreciate the benefits offered in their retirement plan?

We have found that employees with an understandable and attainable financial plan will make better decisions about their participation in their retirement plan. Accordingly, our fiduciary services extend to your employees with a comprehensive education and financial planning process.

We pride ourselves on a tailored experience for both the plan sponsor and the plan participant. Services provided to plan sponsors include:

  • Creating and maintaining a comprehensive investment plan, strategy or policy statement that
    documents the processes and procedures that will be used to manage the plan
  • Analyzing and optimizing asset allocation strategies and investment menus
  • Applying objective standards for evaluating and recommending appropriate investment options
    and products
  • Monitoring and reporting plan performance
  • Evaluating client’s current fiduciary practices and recommending actions to help mitigate compliance
    and litigation risks
  • Helping clients understand their fiduciary roles, responsibilities and obligations with
    more confidence

Services and benefits provided to plan participants include:

  • Dedicated four person team with 80 years of combined experience
  • Annual participant readiness surveys; financial planning with a CFP professional
  • Integrated estate planning documents (wills, trusts, durable power of attorney, health care power, and property deed)
  • Health savings accounts; low cost investment menu of Vanguard and Dimensional funds; debit card for access to cover medical costs
  • College planning for parents with children approaching college age; planning for those eligible for
    financial or merit based aid; navigating and maximizing the college experience
  • FDIC insured savings account; online account featuring nationally competitive rates for individual,
    corporate, and trust ownership
  • Access to Spark by Firethorn, an automated investment platform for a plan participant to build wealth outside of the retirement plan and reach financial goals

When you work with Firethorn Retirement Services, you work with a team committed to the highest fiduciary standards for your company and your employees. Rest easy knowing your retirement plan is in the experienced and capable hands of Firethorn Wealth Partners!