The Bridgemore Financial Retirement Plan Process

While each client has unique needs and goals, our proven, systematic process remains the same.

Corporate Retirement Plan Process:

Plan Design

  • Discuss your needs and goals
    • Each company has different goals for their retirement plan. You may be offering a retirement plan in order to maximize contributions to owners or other key employees, or you may just be wanting to provide a benefit for employees for as little cost as possible.
  • Design a plan to meet those needs and accomplish those goals
    • This may be through a 401k plan with no company contribution or maybe through a cross-tested profit sharing plan with an additional Cash Balance plan. Whatever your goal for the retirement plan, we’ll help design the one that helps you reach your goal for the lowest cost.
    • Maybe we offer immediate entry or maybe a 1-year wait to be eligible to participate, or maybe take the best of both worlds and allow participates to defer sooner but have a 1-year service requirement for the company contribution. It really just depends on your needs as to which eligibility option makes the most sense.
  • Leveraging relationships
    • While we are independent and can partner with just about any record keeper or third party administrator (TPA), we have found that in the majority of cases, it makes the most sense to leverage our relationship with TD Ameritrade and have them provide the custody, recordkeeping, and TPA services.

Investment Lineup

  • We help you select an appropriate investment line-up, formalize the Investment Policy Statement (IPS), analyze the funds on an initial and on-going basis, and replace the funds when appropriate.
  • While we typically utilize low-cost index or passively managed funds, we will include active managers where appropriate or at the request of the client.
  • We also offer tactically managed model portfolios comprised of the funds in the plan. This provides an easy way for participants to have well diversified, actively managed portfolio for no additional cost.

Employee Education

  • We will design a customized employee education and communication plan to meet the needs of your employees.
  • Have a smaller company with little turnover? We may setup semi-annual or annual meetings. Have a larger company with consistent turnover? Then maybe quarterly or even monthly meetings would better fit your need.
  • As part of the retirement plan offering or as standalone workshops, we can also provide your employees additional financial literacy workshops around such topics as creating a spending plan (budgeting), debt management, insurance strategies, investment basics, or estate planning basics.

Reasonable Fees for the Services

  • Based on the number of locations and employee education and communication plan we decide on, we will customize a fee schedule that is reasonable for the services we will provide to you and your employees. For instance, a client who has 1 location and only needs annual meetings will save more in fees than one who wants monthly meetings in multiple locations. Either way, your fees will be more than reasonable for the hands-on, high level of service our advisers will provide. In fact, 401k clients typically see savings on total plan costs of 15-30% when transitioning to Bridgemore Financial.

To learn more about our process, please call 205.440.1773 or online to schedule a free initial meeting with Michael.