Your employees hope for a rewarding retirement. Today more than ever, employers need help in navigating the many complex plans and retirement options in order to offer the best solutions to their employees. Foresight Wealth Management provides personalized service to help find the right solutions to fit your needs. We provide a more sophisticated level of service, support, and we are dedicated to making sure your employees receive the education they need to make decisions regarding their deferral and investments.
At Foresight, we don’t believe in hidden fees. Our clients benefit from complete fee transparency so there is never any question regarding 401(k) plan fees. We remove all indirect compensation and conflicts of interest to reduce expenses and improve participant outcomes.
The Employee Retirement Income Security Act (ERISA) requires plan fiduciaries to understand, evaluate, and control the fees inside retirement plans. It is both a breach of fiduciary duty and a prohibited transaction to allow a plan to pay more than reasonable expenses. At the same time, the retirement plan industry has purposely obscured fees and costs, making a fiduciary’s obligation very difficult. Many plan fiduciaries have exposed themselves to substantial liability for failing to clearly identify and understand the total cost of their plans.
Too many investors wrongly focus on the amount of money they have saved, in reality, it is the safe and reliable income that your assets will generate that matters most.
Unfortunately, many plan sponsors mistakenly believe their Advisor or other service providers have accepted the fiduciary risk. This is seldom the case. Many Advisors won’t accept fiduciary liability or may only be a co-fiduciary, neither of which results in any reduction of liability for plan sponsors. As a Registered Investment Advisor (RIA), our Advisors can serve as a full ERISA 3(38) Investment Fiduciary. As fiduciaries, our Advisors also provide plan participants with the individual advice necessary to make prudent investment choices and plan for a successful retirement.
When it comes to 401(k) options, there is not a one-size-fits-all solution. Employers’ goals for establishing a retirement plan can be just as varied as the 401(k) solutions available.
Proper plan design is critical to ensure employers and employees get the most out of the 401(k) plan. Proper plan design can influence participant behavior, reduce liability, and increase benefits to plan sponsors. Foresight has the experience and resources to implement strategies many other Advisors overlook. Find out how modern plan design can improve the benefits of your 401(k) plan.
Foresight 401(k) plan Advisorshave years of experience and offer a hands-on approach to helping employees achieve a comfortable retirement.
We make the process easy, helping employees understand their options, offering clear communication about their accounts, and helping them each meet their goals for long-term financial stability. Our focus on client relationships means we provide individual, face-to-face consultation and education in order to ensure your employees get what they need out of their 401(k) retirement plans.
To better serve our clients, Foresight has chosen to sponsor a Multiple Employer Plan (MEP). The Foresight MEP allows our clients to join together to form a much larger plan, benefiting everyone.
The assets and employees from all our clients are combined for greater economies of scale. The larger asset pools created by our MEP may provide access to investment options and services normally reserved for larger employers. As thousands of our clients’ employees join together, negotiating power with service providers is significantly improved, resulting in substantial cost savings.
Joining a MEP doesn’t mean our clients have to give up control of their 401(k) plan. Our clients still have the flexibility to design their individual company’s plan, meaning you decide eligibility, matching, vesting and more. Joining the Foresight MEP may offer tremendous cost savings, improved services, reduced liability, and investment options not normally available to small employer plans.