Small Business Owners

After an extensive review of his current plan, we found significant structural flaws. He hadn’t reviewed or refined the plan design, investment structure, expenses, and administration since the plan was first implemented. The plan document hadn’t taken into consideration some of the recent tax law changes, and he had failed the ADP and ACP nondiscrimination test for the past two years. In addition, his employees were not getting any ongoing education about their benefits and, therefore, the participation rate was poor.

We got to work immediately and upgraded the plan document, redesigned the plan, and replaced the marginal investment options that were in the original plan. We also implemented online support for his employees as well as annual group meetings to educate his workforce on their benefits.

The result was that the plan passed the ADP and ACP nondiscrimination tests, participation rates grew, he was able to defer more of his income, and the company saved in annual expenses.

When was the last time you had a third party evaluate your plan?

*These results are for illustrative purposes only and should not be deemed a representation of future results. Circumstances, solutions, and/or results are based on specific facts tied to unique client situations. Favorable results cannot be guaranteed even in a similar scenario. Each specific set of circumstances will differ depending on client needs and profile. Actual results may be more or may be less than those shown. Past performance does not guarantee future results. This assessment is that of the writer, and not the recommendations or responsibility of Cetera Wealth Services, LLC or its representatives. The solutions presented in this scenario are being offered through Fortress Financial.

Business Owner Services

• Cash flow management
  
• Implementation strategies
  
• Personalized investment management
  
• Philanthropic planning
  
• Retirement planning
  
• Risk management
  
• Succession planning