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Overview

Organizations and plan fiduciaries can reduce the risks of sponsoring retirement plans with our assistance.

BPM Advisors provides retirement plan consulting services to a wide variety of clients, including public and private corporations, not-for-profit organizations and government entities. We work with all types of institutional retirement plans including defined benefit, defined contribution and non-qualified plans.

After decades of working with retirement plans, we know how important it is to have a personal relationship with each and every firm that we work with to help them optimize plan performance and participant outcomes. It is our people at BPM Advisors who stand shoulder-to-shoulder with you as a fiduciary to mitigate risk for your company and it’s professionals. We are proud to be certified by fi360 as Accredited Investment Fiduciary (AIF). Advisors who have earned the Accredited Investment Fiduciary designation are able to immediately show that they are interested in and working towards the best interests of their clients. They have gone through training, met the qualifications, and passed the exam allowing use of the AIF designation.

 

BPM Advisors, Inc. is a registered investment adviser (RIA). Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Plan Design

In the ever-changing world of retirement plans, the most-often overlooked component is plan design. While the 401k plan may not seem to be in as much need as some of our other employee benefits, we can typically trace many issues all the way back to the fact that many plans today simply could have been architected in a way that truly fits the needs of the business, and it’s executives at the same time.

Specific areas we focus on include:

  • Employer contribution strategies
  • Evaluation of qualification and eligibility issues
  • Compliance with legislative changes
  • Support services to help simplify plan administration
  • Optimal use of safe harbors such as 404(c) and QDIA
  • Comparative-analysis studies
  • Cross-tested 401(k), cash balance, and defined benefit plan

Investments

We believe a written investment policy is the only way to demonstrate a thoughtful process and make well-informed, prudent investment decisions. We help you develop your overall investment policy approach and assist in the preparation and review of your Investment Policy Statement that describes the procedures and metrics used to manage the investment process.

Once we have the investment policy in place, we  act as a fiduciary on the plan to not only appropriately select, and monitor the funds over time, but to be responsible for those choices we are helping make, as well in any litigation that may occur.


As an ERISA 3(21) Fiduciary we:

  • Operate in the best interest of the plan and its participants
  • Help make decisions about managing the plan
  • Provide investment advice and recommendations
  • Assure that all parties are following the terms of the plan documents
  • Stand along-side the plan sponsor as a fiduciary during possible litigation


As an ERISA 3(38) Fiduciary we:

  • Provide an extra layer of protection from litigation or regulatory scrutiny
  • Have full discretionary authority to make plan level investment decisions
  • Plan Sponsor and all other plan fiduciaries are relieved of all fiduciary responsibility for the investment decisions made

About Fees

We provide comprehensive reviews and benchmarking, including in-depth comparisons of plan features and fee transparency.  By benchmarking your plan we can help you compare the “true” costs of your plan against national norms and help negotiate pricing with your existing provider. We can help lower your total plan costs so that it becomes unnecessary to change providers in many instances.

If you are dissatisfied with your existing provider, we can assist you in the vendor selection process. Selecting the right record-keeper can be a complicated and time consuming process.  You can leverage our knowledge and experience and let us address that burden.

We request custom RFPs, consolidate responses and create easy to read executive summaries. After we match appropriate vendors to your organization’s needs and coordinate vendor proposals, we help you negotiate the contract details and help implement your plan.

Fiduciary Roles

We work diligently with every client to help fulfill your fiduciary responsibilities using a process that ensures every plan remains compliant with ERISA. What sets us apart from many industry professionals is that we sign on as a fiduciary partner, so you can rest assured knowing that the experts at BPM are in control and responsible for the decisions we help make.

As a plan fiduciary we help each client with:

  • Prudently selecting and monitoring plan investment options
  • Appropriate investment choices and information enabling participants to make educated decisions
  • Documentation that all participants receive such information
  • Establish a Formal Committee, facilitate committee meetings, and draft meeting minutes
  • Fiduciary training
  • Investment Policy Statement


Administrative Fiduciary Responsibilities

There are over 30 distinct fiduciary responsibilities that your administrative team must fulfill to meet DOL guidelines such as:

  • Due diligence
  • Plan information
  • Employee communication
  • 404(a)(5)
  • Summary Plan description


Financial Fiduciary Responsibilities

Evaluating the cost of your retirement plan against the rate of that particular investment lineup, including:

  • Market competition
  • Management fees
  • Investment efficiencies
  • Performance benchmarks

For Participants

One-on-One Communication

One of the unique differentiators that we provide our clients is one-on-one support. We educate and guide all employees, not just the highly compensated or executive team.

We guide participants through individual meetings to fund and manage their retirement plan, set realistic goals, and achieve successful outcomes.


Onsite & Virtual Employee Seminars

One of the ways we assure client satisfaction over time, is by developing a customized strategy together with each client. Whether it's face-to-face or online, we provide expert advice to your employees in the format that works best for them.


Financial Wellness

 



Of report that issues with personal finances have been distractions at work.1

 




Of defined contributions participants strongly agree that they find themselves living paycheck to paycheck.2

 

 

Our workplace is changing. Employers today are looking for better and more attractive ways to recruit and retain employees, while incentivizing them to be healthier, happier and more productive at work. Statistics show that personal problems at home or at the workplace can be traced back to the stress level or wellbeing of their personal finance situation.

In order to start saving even a small percentage for retirement, a person must first get out of debt and get on a budget. Long lasting behavior change in any form starts with having a plan and setting small realistic goals.

We believe that financial wellness is not just another buzz-word, but a life-line to the majority of Americans who are looking for a better way to live their lives.

Contact us today to learn how we can help your workforce access the financial wellness support that they need to get on track and stay there.


1. Employee Financial Wellness Survey 2014 Results, PwC.
2. State Street Global Advisors Biannual DC Investor Survey, March 2015.


Retirement Readiness & Gap Analysis

 

According to a recent survey by the Employee Benefit Research Institute, half of the American workforce is not ready for retirement.

Eighty-one percent of employees say they are a little or a lot behind schedule in planning and saving for retirement. Confusion about retirement plans abounds, leading to decisional paralysis.

In 2012, 42% of adults gave themselves a grade of C, D or F on their knowledge of personal finance, marking a statistically significant change from 2010 when as many as 65% of adults rated themselves an A or B.

With so many uncertain about how to achieve retirement confidence, we are here to help. We have the expertise to provide a comprehensive approach to retirement savings, investing and spending. We can help your employees take control of their financial well-being, and it starts with a Retirement Gap Analysis – understanding what differences may lie between financial goals and realities.


Retirement Plan Tax Guidance

   

Keys to a Tax-Smart Retirement

 
       
   
  • Understand the difference between taxable, tax-deferred, and tax-exempt accounts.
  • Know which accounts to tap, and when, to maximize tax efficiency.
 
       

There are many tax advantages that the government provides to its citizens with respect to saving for retirement.  However, most of us struggle fully utilizing these advantages for a number of different reasons.

Our clients find the extensive resources and background BPM has with respect to personal and corporate tax issues is an incredible differentiator that they readily take advantage of when questions arise about their tax situation.

Contact us to learn more about how we can help you and your employees develop a robust understanding of the vehicles that exist today that can most efficiently and intelligently help them reach their retirement goals on time.

Why BPM?

Commitment to Care 

We care about you and your employees. We believe that all employees deserve to work with a firm that understands their situation, and will stop at nothing to make sure the correct choices are made along their way to retirement.  Your 401(k) plan is a savings and recruitment tool that you should feel proud of. You can feel secure in the fact that an expert has your back.


Fiduciary Support

The Employee Retirement Income Security Act of 1974 (“ERISA”), requires that plan fiduciaries be held to the standard of a “prudent expert,” unless they hire a professional “with knowledge of such matters.” We are the professional firm you can count on.


Unparalleled Resources

When you take a look at the breadth and depth of our resources, you will find a team of institutionally focused professionals with a myriad of internal resources at our disposal.

Our mission is to run your retirement plans so that you can focus on running your business.  We are well prepared to meet the needs of your company, as well as the needs of the growing number of retirees facing retirement shortfalls, and plan participants needing individualized guidance to help them prepare financially for retirement.

For Sponsors

Parties to whom we disclose information

All Investment Advisers may need to share personal information to run their everyday business. In the section below, we list the reasons that we may share your personal information:

  • For everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus;
  • For our marketing – to offer our products and services to you;
  • For joint marketing with other financial companies;
  • For our affiliates’ everyday business purposes – information about your transactions and experiences and information about your creditworthiness; or
  • For affiliates and non-affiliates to market to you.

If you are a new customer we may begin sharing your information on the day you sign our agreement. When you are no longer our customer, we may continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.


Protecting the confidentiality of current and former client’s information

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law, including computer safeguards and secured files and building.


Federal law gives you the right to limit sharing – opting out

Federal law allows you the right to limit the sharing of your NPI by “opting-out” of the following: sharing for non-affiliates’ everyday business purposes – information about your creditworthiness; or sharing with affiliates or non-affiliates who use your information to market to you. State laws and individual companies may give you additional rights to limit sharing. Please notify us immediately if you choose to opt out of these types of sharing.

DEFINITIONS: Affiliates – companies related by common ownership or control. They can be financial and non-financial companies; Non-affiliates – companies not related by common ownership or control. They can be financial and non-financial companies; Joint marketing – a formal agreement between non-affiliated financial companies that together market financial products or services to you.


National Resource Publications

 Please call if you have any questions. Your privacy, our professional ethics, and the ability to provide you with quality financial services are very important to us.

Contact Us
Eric Weissman, AIF®
Director of Retirement Plan Consulting
408.961.5553
EWeissman@bpmadvisorsinc.com