At Labrum Wealth Management we understand that an employer-sponsored retirement plan is one of the most important employee benefits you can offer to your valued employees. Selecting and monitoring a qualified retirement plan can be overwhelming for even the most diligent plan sponsor, so LWM has developed a team of experienced, qualified retirement plan professionals dedicated to helping plan sponsors with this hefty responsibility.
A financial advisor held to a Fiduciary Standard occupies a position of special trust and confidence when working with a client. As a Fiduciary, the financial advisor is required to act with undivided loyalty to the client.
Our specialty and expertise lies in helping to mitigate your fiduciary liability while maximizing investment opportunities, ensuring plan compliance and helping plan participants achieve financial security. With an objective and unbiased approach, LWM will help you to select, implement and manage a robust qualified retirement plan.
As your retirement plan advocate and consultant, our core services include:
Selection, Monitoring and Investment Policy Statement (IPS)
We provide unbiased investment recommendations for your plan based on your employees’ needs with continual monitoring of your funds using quantitative and qualitative analysis. This will ensure your plan is 404(c) compliant with ERISA and will help to mitigate your fiduciary risk. We review your plan investment options at least quarterly. LWM provides a customized Investment Policy Statement (IPS) as a roadmap to your investment due diligence process which will be updated by LWM as needed.
Plan Design and Compliance Support
Plan design is important and deteremines things like contribution and participation rates, recruiting of key employees and non-discrimination testing. It is important to have a healthy plan design in place in order to meet your objectives and remain compliant with ERISA. LWM will review the plan design initially and no less than annually.
Provider Due Diligence
To ensure your plan continues to offer optimal benefits to your employees, we conduct independent provider benchmarking to evaluate your current plan compared to the competition. LWM will conduct a benchmark review every three to five years to include an in-depth analysis on plan fees, services and investment options.
As a plan fiduciary, you are required to navigate the landscape of available investment managers, monitor investment options and make prudent investment decisions for the plan. To relieve some of this fiduciary responsibility, LWM offers co-fiduciary services as an Investment Advisor and Investment Manager to your plan.
Under the “Help Me Do It” option, LWM will share in the fiduciary responsibility on the investments by monitoring and recommending investment options for a plan on an ongoing basis while the plan sponsor still retains discretion over which investment options are offered in the plan.
Under the “Do It For Me” option, LWM assumes full discretionary responsibility over the investments by selecting, monitoring and managing the plan investments and assumes legal liability for the actual investment decisions.
Participant Education and Guidance
A qualified retirement plan is all about helping employees save for retirement by making it easy for them to enroll, set a goal and maximize their contributions. LWM offers plan and investment guidance to participants via on-site group meetings, group webinars and one-on-one sessions annually or as needed to meet your company goals.
Electronic Fiduciary File
LWM has multiple resources to help you maintain your fiduciary files for future reference or for auditing purposes. LWM will maintain an electronic fiduciary file with all pertinent due diligence documents, such as the IPS, meeting minutes and LWM service agreements for easy Plan Sponsor access at any time.
Participant Marketing Tools
LWM offers participant marketing tools to promote the plan and educate your employees on numerous topics, such as Dollar Cost Averaging, Asset Allocation and the Power of Tax Deferral.
To schedule a time to discuss your financial future and the possible role of insurance or investments in your financial strategy, contact us at firstname.lastname@example.org or call us at 760-707-5555 today!
It can be difficult to make financial decisions without access to information. If you have questions or concerns about your current retirement strategy, feel free to contact us using the form below.