Retirement Plan Services
Chadler Investment Advisory Solutions provides independent retirement plan consulting and asset management services. Our collaborative process is designed to help you as the plan sponsor and fiduciary. Acting as plan fiduciaries, we work with a number of bundled and unbundled service providers to help meet your organization’s needs.
- Investment Fiduciary – All plans have investment fiduciaries. Often that task is delegated to a professional, which can help to mitigate some of the liability a sponsor may have. A well-run plan will often have an outside adviser, who also assists with a host of other services. It is also beneficial for an investment fiduciary to a retirement plan to have a reasonable knowledge of ERISA and pension regulations. We are generally named co-fiduciaries to our plans and accept that status in writing.
- Investment Policy Development – All plans should have a current Investment Policy Statement (IPS). It should drive the decision-making process, identify processes and responsibilities, and add transparency to other plan documents. An IPS should be reviewed regularly, and maintained as regulatory and market conditions vary. At a minimum, an IPS should be reviewed every three years.
- Fund Menu Design – Developing an investment lineup requires a specialized set of skills and tools. It also requires an understanding of human behavior. Poor design and selection can reduce plan enrollment, utilization as well as risk adjusted return.
- Investment Monitoring – The process of monitoring a plan should be documented and routine. We prefer a structured approach, so essential elements are routinely captured. More information about plan monitoring can be found at fi360.com.
- Investment Manager Search – Investment manager searches can be complex. A good Investment Fiduciary will often use multiple forms of research. Data should be gathered from multiple industry resources.
- Plan Design Consulting - We believe that plan design should meet the needs of an organization financially and operationally as well as the needs of participants. Experience working with organizational management structures, HR and behavioral finance can help drive plan design.
- Compliance Oversight - The better plans can rely on many layers of support. Advisors should have knowledge of ERISA, DOL, IRS and other regulatory matters. Documents require periodic updates, and annual filing and auditing can be burdensome. It’s also important to understand the type of plans an advisor typically serves. The compliance requirements for a 100-or-more-person plan are much more demanding than a small plan.
- Vendor Searches - The vendor search ideally should be conducted as a collaborative effort. A plan’s advisor should understand the nuances of various plan architectures, have the ability to marry different vendors or work with a sole vendor of services. We focus on the value proposition, because the cost to move a plan can go well beyond the cash outlay. A plan should understand its priorities before any decisions. This is particularly true when considering a change of custodian or record-keeper.
- Transition Assistance – There are many things that need to be accomplished. Blackout notices must be sent in a timely manner. Assets need to be mapped, funds moved and reconciled and employees need to be educated on the new plan.
- Expense and Service Reviews – Does the value proposition match the objectives and needs of your organization? Fees must be reasonable, but should not compromise the success of the plan by either being too expensive, or so low that participants do not receive the resources they need.
- Vendor Management – We coordinate and help manage the multiple vendors engaged in your plan and we can assist at crucial times to ensure that your plan has what is needed. We work to ensure your plan is administered according to your plan documents, assist with data gathering for audits, and review that filings are timely.
- Education Assistance –Your plan materials are reviewed and managed through our team of plan professionals. When needed, we can also source educational programs, mailers, gap analysis and forecasts.
- Employee Meetings - We conduct in-person and online participant meetings and conference calls.
- Quarterly Investment Reviews – We conduct quarterly meetings with you and the plan sponsor to discuss fund performance, market and investment conditions, plan specific events and fiduciary oversight issues. We regularly review expenses and performance using multiple sources of analysis and target problems within the plan for action. We are plan fiduciaries managing your plan together.
Our firm utilizes portfolio management software to generate detailed reports for both performance and regulatory / IRS / DOL reporting. Fiduciary review reports are provided quarterly. Additional reports can be made available upon request.