How We Can Help Navigate the 401(K) Landscape For Your Firm 

The recent announcement of Ascensus acquiring Vanguard’s individual 401(k) retirement plan business has sparked questions among plan participants and small business owners on the future of the retirement plans. At Sherman Wealth, we understand the importance of ensuring that your retirement savings are in the best possible hands, which is why we want to discuss the prudency of revisiting your 401(K) plan, re-assessing the fees you are paying, your user interface and integration solutions, and assuring your plan matches your firm’s intended goals. 

Whether you’re currently enrolled in a Vanguard or other 401(K) plan or considering setting one up for your small business, we’re here to help. Our team can help you review your existing plan to identify any potential areas of improvement. From high administrative fees to open architecture investment options and working with the right 401(K) provider, we conduct a thorough analysis to ensure that your plan is optimized for your financial goals.

One of the key factors to consider when evaluating your 401(k) plan is the administrative fees involved. It’s important to carefully analyze these fees to ensure that you’re getting the most value out of your plan and there are no hidden or unknown fees that are unnoticed. Along the line of fees, you also want to ensure you are with the right retirement provider, exploring all the options available within the industry, and carefully selecting the best choice. Next, the user interface of your 401(k) plan plays a crucial role in encouraging employee participation and engagement. A review of your plan includes evaluating the usability and accessibility of the platform to ensure ease of use for your employees and firm in general. Additionally, it’s important to develop strategies or plans to boost employee participation and promote retirement savings awareness among your staff. 

An informed staff also plays an important role within a retirement plan. At Sherman Wealth, we work with many plan participants to provide education and training sessions to empower  employees to make more informed decisions about their retirement savings. From understanding investment options to maximizing employer matching contributions, we can help equip your staff with the knowledge they need surrounding overall retirement planning, answering any questions they may have specifically or generally. Lastly, even beyond the 401(K) plan, we work to support our clients with their overall small business planning needs, helping craft financial strategies to enhance the overall business. 

Within the ever changing retirement plan space, it’s important to periodically review your workplace 401(K) plan and ensure it still aligns with your firm’s needs and goals. Whether it’s setting up a new plan, reviewing your current one, or providing ongoing support and education, Sherman Wealth is here to help quarterback the process, guiding you throughout the way.  Email or schedule a complimentary 30-minute call here to learn more about how we can assist you in maximizing and reviewing your 401(k) potential.

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