G. Robert King II, CFP, CLTC

Transcription

1 RETIREMENT PLAN CONSULTING SERVICES G. Robert King II, CFP, CLTC Serving businesses on Cape Cod, since 1986 Expertise. Knowledge. Peace of Mind. Securities products are offered through New England Securities Corporation, a broker-dealer (member FINRA/SIPC). Investment advisory services are offered through New England Securities Corp. and/or Baystate Wealth Management LLC, each a registered investment advisor. Baystate Wealth Management and Baystate Financial Services are not affiliated with New England Securities L [exp0615] [CA,CT,FL,GA,MA.MO,NH,NJ,NY,PA,VT,WA

2 TABLE OF CONTENTS How We Work With You Our Retirement Planning Process Our Advantage Helping Maximize Your Fiduciary Protection Putting Our Investment Expertise to Work for You Designing a Plan to Help Boost Employee Satisfaction Helping Your Employees Make Better Decisions The Pension Resource Center Baystate Financial Services My Profile Securities products are offered through New England Securities Corporation, a broker-dealer (member FINRA/SIPC). Investment advisory services are offered through New England Securities Corp. and/or Baystate Wealth Management LLC, each a registered investment advisor. Baystate Wealth Management and Baystate Financial Services are not affiliated with New England Securities L [exp0615] [CA,CT,FL,GA,MA.MO,NH,NJ,NY,PA,VT,WA

3 HOW WE WORK WITH YOU We are dedicated to: Seamless Integration Creating a reliable, seamless experience and improved outcomes for retirement plan sponsors and employees Vendor Management Implementing process-driven strategies to help you limit your fiduciary liability Participant Design Baystate Financial Services G. Robert King Investment Expertise Acting as your guide to help you manage changes in the regulatory environment Employer Offering advice and education to improve the retirement readiness of your employees Plan Design Regulatory Compliance Helping you manage your relationships with third parties Our understanding that we operate a service business with you as our valued client Fiduciary Oversight Securities products are offered through New England Securities Corporation, a broker-dealer (member FINRA/SIPC). Investment advisory services are offered through New England Securities Corp. and/or Baystate Wealth Management LLC, each a registered investment advisor. Baystate Wealth Management and Baystate Financial Services are not affiliated with New England Securities L [exp0615] [CA,CT,FL,GA,MA.MO,NH,NJ,NY,PA,VT,WA

4 OUR RETIREMENT PLANNING PROCESS Our primary goal is to help you manage risks, ensure that your plan delivers optimum investment options and services, and improve employee retirement readiness. Maximize Your Fiduciary Protection We assist you in becoming 404(c) compliant and help develop an Investment Policy Statement. Enhance Investment Opportunities We recommend an investment lineup that aligns with plan objectives. Manage Plan Costs We evaluate and monitor provider fees and services for reasonableness. Optimize Plan Efficiency and Ensure Compliance We focus on operational aspects, including plan eligibility, contribution modeling, and compliance. Improved Retirement Readiness We create a customized employee education program and offer individualized investment advice.

5 HELPING MAXIMIZE YOUR FIDUCIARY PROTECTION As risk management specialists we help you to mitigate the potential risks and liabilities of a changing retirement plan landscape. Formalize investment committee protocols Assist in development of your written Investment Policy Statement Conduct ongoing fiduciary reviews Investment performance Educational programs Manage a fiduciary audit file Provide guidance on regulatory changes Work closely with your Third Party Administrator

6 PUTTING OUR INVESTMENT EXPERTISE TO WORK FOR YOU Investment Policy Statement Investment Analysis and Selection Ongoing Assessment and Review Benchmark Establish guidelines Evaluate the investment Conduct periodic invest- Compare the plan for making investment portfolio and recommend a ment reviews to ensure that to industry averages decisions. balanced lineup that offers performance and expenses to identify areas broad diversification across remain consistent with plan for enhancement. asset classes. objectives and in accordance with the IPS; deliver Diversification does not assure against market loss and that there is no guarantee that a diversified portfolio will outperform a non-diversified portfolio.

7 DESIGNING A PLAN TO HELP BOOST EMPLOYEE SATISFACTION We focus on designing a plan that can streamline your administrative responsibilities, maximize plan provisions, and promote employee satisfaction. Plan Design Employer contribution modeling and analysis Review of plan eligibility and distribution provisions Optimal use of safe harbors, such as 404(c) and default alternatives Compliance with legislative and regulatory changes Vendor Management and Due Diligence Ongoing fee benchmarking and analysis against other vendors and plans Vendor search services, including: Gathering responses, data, and pricing from several plan providers Analyzing costs, services, and investment choices Facilitating finalist meetings

8 HELPING YOUR EMPLOYEES MAKE BETTER DECISIONS We provide advice and education to help your employees understand plan options, encourage participation, promote satisfaction, and feel confident about the decisions they are making toward their retirement readiness. Employee education program tailored to your specific needs Annual written communication plan Annual employee education calendar, including enrollment meetings and broad financial planning education Individualized investment advice Effective utilization of online tools and resources Ongoing assessment to track progress and measure results Retirement Readiness at a 20-Year Low 50% of workers are not at all or not too confident about having enough money for a comfortable retirement. 56% of workers report total savings and investments of less than $25,000. Source: Employee Benefit Research Institute 2011 Retirement Confidence Survey, March 2011, ebri.org.

9 THE PENSION RESOURCE CENTER The Pension Resource Center is an unbiased source working within the retirement plan business. They specialize in helping you understand your fiduciary responsibilities and all the moving parts that make up your company s plan. Retirement plans come in many types -The Pension Resource Center s mission is to assist you in providing a plan that achieves the goals you have established for your company. Qualified Retirement Plan Design 401(k), Profit Sharing, Cross Tested, Age Weighted, Defined Benefit, Cross Tested, or Cash Balance; we understand that plans come in many types. Custom Plan Design to benefit either you, your key employees, or a comprehensive benefit for all. Provider Search Evaluating your current plan against multiple providers can be complicated and overwhelming. The Plan Investigator can help. Customized reports with multiple providers. Comparative analysis of features and costs. Industry Benchmarking Investment Monitoring Creating an Investment Policy Statement ( IPS ) will assist you in fulfilling your duties as a plan fiduciary. The Plan Investigator not only analyzes your investment options but also evaluates whether it meets your IPS. Fiduciary Checklist Investment Policy Statement Investment Fund Performance Report

10 OUR FIRM BAYSTATE FINANCIAL SERVICES, SERVING NEW ENGLAND SINCE 1901 Baystate Financial is one of New England's oldest and largest privatelyowned financial services firms. Thanks to the wealth of knowledge and experience provided by the financial planning specialists in the firm, my team is able to leverage this expertise in the areas of investment management, estate planning, business succession, employer benefits and risk management. Together, we design coordinated, comprehensive solutions to the financial planning needs of individuals, families and closely-held business. Our success is based on our long history of social responsibility, strong leadership, sound investments, and innovative products and services. We are proud to be a part of this great tradition and we are committed to delivering superior service and look forward to working for you. Visit us at:

11 A TEAM DEDICATED TO YOU, YOUR FIRM, AND YOUR EMPLOYEES Rob has on his team the resources of Baystate Financial Services and MetLife s Pension Resource Center. He started in the insurance business in 1979 and has been in the securities industry since He became a CERTIFIED FINANCIAL PLANNER practitioner in March He holds the securities licenses 7, 63, and 24 and is licensed to sell insurance in Massachusetts. He graduated with a Bachelor of Science degree from the College of William and Mary in Rob started in the 401(k)/Profit Sharing Business in 1985 and considers this to be one of his specialties. The recent changes in retirement plan regulations and laws along with Personal Fiduciary Liability have made our role as plan sponsor educator and team member more critical than ever. Today assisting in regular review meetings and education events are just part of Rob s role in assisting the plan to be 404(c) compliant.