Is Your Current 401(k) Advisor and Provider Still the Right Fit?

Plan sponsors who suspect something isn't right

You probably don't need a plan review because everything is perfect. You need one because something has been nagging at you. Common triggers:

• Poor advisor service — the advisor only calls when something is being sold
• High or unclear fees — you can't say with confidence what you're paying, all-in
• Low employee participation or deferral rates
• Payroll issues, corrections, or missed contributions
• Weak fiduciary documentation — no IPS, no committee minutes, no monitoring log
• Recordkeeper problems — slow support, confusing statements, broken portal
• Limited or non-existent employee education
• An outdated plan design that no longer fits the company
• No provider comparison in recent memory

What happens, step by step

1. 1

   Initial conversation

   Thirty minutes. We talk about what you're seeing, what you're not seeing, and whether a full review is worth doing.

2. 2

   Data and document collection

   A defined list: Form 5500, plan document, fee disclosure (408(b)(2)), investment menu, participant statement sample, payroll integration setup.

3. 3

   Plan analysis

   Fees benchmarked against comparable plans. Investments reviewed against monitoring criteria. Fiduciary documentation reviewed against a plain-language checklist.

4. 4

   Findings and recommendations

   A written summary. What's working, what's not, and where the biggest opportunities are. In dollar terms where possible.

5. 5

   Provider comparison, when appropriate

   If a provider change makes sense, we run a comparison. If your current provider is fine and the issue is service or advisor, we say so.

6. 6

   Conversion planning, when appropriate

   If you move forward with a change, the conversion is planned with a defined timeline, communication plan, and blackout minimization.

7. 7

   Ongoing advisory relationship

   Predictable rhythms: quarterly investment review, annual plan review, employee education on a set schedule, fiduciary support throughout.