Retirement Services
Strategies for Owner-Operated Businesses, their Families, and Employees
At Legacy Asset Management, we realize that retirement accounts are among one's most significant financial assets. They represent the future dollars individuals will rely upon for their twilight years, often without any other sources of income. Many employers offer retirement benefits in the form of 401(k)s or related accounts to help their employees accumulate the needed funds for their post-working years. Many employees take comfort in the fact that their firms have structured the best plans with the most appropriate options and offer guidance to help them achieve financial stability in retirement. Because of the importance of these retirement benefits, we work with all the parties involved, employers and employees alike, throughout every step of the planning process.
Our Clients
At Legacy Asset Management, we work closely with plan sponsors (including some of the largest privately-held companies in Houston) to improve communications, monitor investment performance, and facilitate efficiency in the administration of this crucial benefit. We also help employees and other individual investors to understand the parameters of their retirement plans and concentrate on their individual asset allocation and portfolio construction.
Evaluation of Plan Operations
For companies with existing plans, we conduct a comprehensive review of all documentations and offer recommendations for improving operations and administrative efficiencies. We assist in plan efficiency audits and suitability testing, and conduct trustee, custodian, and third-party administrator (TPA) searches on their behalf. We also provide cost analyses and "best practices" benchmarking so the sponsors can determine the plan's overall competitiveness in terms of investment management and administration fees.
Fiduciary Responsibilities
Companies that offer retirement benefits act in fiduciary capacities; we work closely with the appropriate company personnel to managed and address any potential liability associated with the investment management process. We review and suggest a framework for investment policy statements to establish procedures for measuring performance and risk goals.
Investment Process
- We analyze and monitor tens of thousands of mutual funds, insurance companies, and private money managers to determine the "best in breed" for each asset class using a variety of unbiased research and other proprietary tools.
- We share the results of this research with our clients and help them select the most appropriate managers and advisors that best meet their selection criteria as set forth by their investment policies.
- In many cases, we coordinate face-to-face interviews with key representatives to allow our clients to differentiate between the various managers and structure the most suitable investment solutions for themselves and their employees.
- After the plan is operational, we continue to monitor and evaluate these managers and provide customized reports with recommendations for any necessary changes due to performance, risk factors, style shift, or other reasons.
Employee Education
Unfortunately, the most well-intentioned plans of employers do not always translate into employee participation. In most cases, simple education is all it takes to get employees motivated and involved in this very crucial benefit. That's where Legacy Asset Management can help. We use clear, common-sense language to take Wall Street to Main Street.
Owners and Key Execs
Certain high net worth individuals may have diverse needs, often beyond the scope of the company retirement plan. In these cases, our investment management team works closely with many owners and key managers to incorporate institutional into their overall investment plans.
When shaping retirement strategies...We strive to be trusted advisers and stewards of our clients' assets.
