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Case Study

Client: Officer at closely held business

Description:

Steve, an officer at his trucking company, was in charge of all employee benefit plans including the company sponsored 401(k) plan, approximately $12 million. The plan was growing at a significant rate as new employees were hired and starting to participate. Some of his employees were not happy with their investment choices and were requesting better options. Steve was also concerned about the increasing fees charged by his vendor.

Solution:

We worked with Steve to interview several 401(k) providers. Steve, with the help from Krilogy Financial, hired a new vendor that provided a broad mix of asset class choices for their 401(k). The vendor also saved him 100% on his out of pocket expenses for administration (close to $41k). We also saved the participants on their internal investment expenses (close to $49k). Krilogy Financial was there the entire time of transition leading Steve through the transition with the new vendor. Through Krilogy’s personalized enrollment seminars each participant received personal advice on choosing the appropriate asset allocation mix that fit their risk tolerance profile. Overall, the new structure helped Steve provide his employees with the peace of mind knowing that they had the most efficient plan with exceptional investment options, all while controlling cost.