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Offering an excellent retirement plan can be key in attracting and retaining top talent. In today’s 401(k) marketplace, our experience tells us plan sponsors are looking for four main benefits:
- Minimal implementation costs
- No stress compliance
- Solid track record from the investment options
- Quality client service and employee education resources
Let us show you how an Oxford advised 401(k) platform achieves all of these goals for you.
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The Oxford advised 401(k) platform achieves all of these goals for you:
Financial Wellness
The financial needs of your employees come in all shapes and sizes, meaning different goals and objectives need to be addressed. All employees, whether they are struggling with debt or managing a large nest egg in preparation for retirement, can benefit from objective, unbiased advice.
For participants interested in a more in-depth look at their financial plan, we will take them through our proprietary Financial Wellcheck.
Participant Services
A main point of frustration for a contributing employee in a 401(k) plan is very simple: Where exactly should I be putting my hard-earned money? People may recognize popular catchphrases like “Asset Allocation”, “Diversification”, and “Risk Tolerance”, but what exactly do they all mean?
By providing one-on-one guidance for participants, Oxford is able to assist your employees in understanding how their benefits truly benefit them.
Fiduciary Support Services
As a plan fiduciary, it is your duty to act solely in the best interest of the participants and their beneficiaries. Oxford can operate as your valued partner in making sure your responsibilities are met.
Our fiduciary support services include:
- 3(21) or 3(38) Investment Fiduciary Services, offered via multiple 3rd party partners
- Monitoring of fund performance and managing the watchlist and replacement process
- Helping you prepare for audits
- Providing you with comprehensive plan provider review and benchmarking, including in-depth comparisons of plan features and fee transparency
Investment Methodology
As a plan fiduciary, your primary responsibility is to make decisions on your 401(k) that are in the best interest of your participants. As a result, developing an investment menu for participants goes beyond simply numbers.
Oxford will help you develop a diversified investment lineup that strives for consistency and flexibility. From employees nearing retirement to those just starting out, the lineup you present should allow every participant the ability to diversify for their specific needs and become retirement ready.
Am I a Good Fit?
- Businesses with less than 100 employees and at least $1,000,000 in 401(k) plan assets who value providing a quality retirement savings program for their employees
- Small business owners who are concerned about keeping up with the fiduciary liability of offering a retirement plan to employees
- HR executives who seek a very low-cost retirement plan for their employees combined with high-touch financial planning and employee education
Fees
Did you know that a 401(k) plan with 20-100 employees and $1,000,000 to $5,000,000 in plan assets pays a total of 1.40% per year on average for plan administration and fund expenses? That doesn’t even include what the plan might be paying a financial advisor to service the plan!
Do you wonder if your company’s plan is paying too much? Use the chart below for an estimate of total plan administration and fund expenses under a plan advised by Oxford:
# of Plan Participants
Plan Assets
| $1M | $2M | $3M | $4M | $5M | |
|---|---|---|---|---|---|
| 10 | 0.59% | 0.37% | 0.30% | 0.27% | 0.25% |
| 20 | 0.59% | 0.37% | 0.30% | 0.27% | 0.25% |
| 30 | 0.66% | 0.41% | 0.33% | 0.29% | 0.26% |
| 40 | 0.74% | 0.45% | 0.33% | 0.30% | 0.28% |
| 50 | 0.81% | 0.49% | 0.38% | 0.32% | 0.29% |
| 60 | 0.89% | 0.52% | 0.40% | 0.34% | 0.31% |
| 70 | 0.96% | 0.56% | 0.43% | 0.36% | 0.32% |
| 80 | 1.04% | 0.60% | 0.45% | 0.38% | 0.34% |
| 90 | 1.11% | 0.64% | 0.48% | 0.40% | 0.35% |
| 100 | 1.19% | 0.67% | 0.50% | 0.42% | 0.37% |
The above illustration is only comparing fees for plan administration and fund expenses and therefore does not include any comparison between the advisory fees paid to the current plan advisor vs. Oxford as the plan advisor. To minimize plan costs, the Oxford advised plan currently uses passively managed index funds. The mutual fund expenses shown are based upon the internal expenses of the current recommended fund lineup, which is subject to change and can vary by plan depending on the individual plan sponsor’s goals and objectives.
This fee illustration is provided solely as an example based on the assumptions and plan information provided. This is an estimate only and is not a guarantee of any particular results. Actual results for your plan may differ. This illustration is not intended to be investment advice or a recommendation to purchase, sell, or hold any investment. Oxford Financial Partners assumes no liability for use of this illustration by any third party.
Case Studies
Here’s how we’ve been able to serve two very different companies that came to us with their 401(k) needs.
Client Background
facts
- 27 Employees
- $2,300,000 in plan assets
- Had older plan issued by an insurance company that was not annually repriced
Client Background
facts
- 72 Employees
- $5,600,000 in plan assets
