401(K) & Qualified Plan Consulting

Strategies for Owner-Operated Businesses, their Families, and Employees

At Legacy Asset Management, we realize that retirement accounts are for most people their most significant financial asset.  Many employers offer retirement benefits in the form of 401(k)s or related accounts to help themselves and their employees accumulate the needed funds for their post-working years.  When optimized, these plans are of benefit to both owner operated businesses thru tax deductions and tax deferred savings but also as a recruitment and retention tool.  A well-structured retirement plan can have very positive effects on a business as employees take pride in the fact that their firms have implemented a program to provide for their financial future.   
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.

For Employers:

We strive to implement the most effective retirement plan based upon the stated objectives of the plan sponsor,  improve communications, monitor investment performance, and facilitate efficiency in the administration of this crucial benefit.  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.
We will also work closely with companies to ensure fiduciary standards are met and maintained.  As such we will address any potential liability associated with the investment management process, review and suggest a framework for investment policy statements, and establish procedures for measuring performance and risk goals.

For Employees:

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.  At Legacy, we help employees and other individual investors understand their retirement plans and concentrate on their individual asset allocation and portfolio construction.  We do this by using clear, common-sense language to take Wall Street to Main Street.