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About Employee Fiduciary

Employee Fiduciary provides companies and their employees low cost 401k plans with services and investment choices that equal or exceed the best in the country.

Employee Fiduciary Headquarter Location

250 State Street

Mobile, Alabama, 36603,

United States

877-401-5100

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The Top Wealth Management Firms that Specializes in 401(k) Programs for Small Businesses

Dec 17, 2020

By Rodgers Kiptoo Photo by Josh Appel on Unsplash Photo: Photo by Josh Appel on Unsplash One common misconception about retirement plans like 401(k) programs is that they're only offered by big corporate employers. But small business owners can give their staff an economic savings plan for retirement too by partnering with the top wealth management firms. If you're an employer who runs a small business, there are several options for 401(k) plan providers. Here are a few factors you'll want to consider. Funding options available Structure of the company These plans are usually customized to cater to the business owners' and employees' unique needs. Still, we've researched several companies, evaluating reviews and features, to find the top wealth management firms specializing in 401(k) programs for small businesses that allow for affordable retirement savings investment solutions . We've found plan providers that will cater to your small business, whether its a corporation, sole proprietorship, partnership, or limited liability company. Benefits of Offering 401(k) Programs to Your Employees Small business owners can offer a retirement savings plan like the 401(k) as a benefit for their employees. This program allows eligible employees to contribute a percentage of their salaries or wages, before taxes, through deferral to a retirement savings plan. Many employers encourage employee saving by matching the employee's contributions, making this benefit a little more attractive. In general, 401(k) programs have many advantages, including the contributions being tax-deductible. This means that you won't pay tax on the money being deferred to your managed employee retirement savings. Your small business employees' savings 401(k) also accrue automatically, meaning they require little effort from the program holder. The employer should always be the one to set up this retirement savings plan. 4 Top Wealth Management Firms Specializing in 401(k) Programs for Small Businesses Your small business can attract and hire high-quality talent by offering employees a 401(k) program, an edge in today's competitive environment. The popularity of 401(k) plans has seen many small businesses enrolling employees automatically . 401(k) programs offer employees the best avenue towards retirement with accrued savings. Unfortunately, they are complex to manage and administrate or work out deferrals. And they can prove costly when matching employee contributions. Because of this, many small employers shy away from the complex administration. That's why wealth management firms provide 401(k) plans geared at small businesses, acting as investment fiduciaries and program administrators. The top wealth management firms enable a small business employer to get programs up and run efficiently quickly. Costs have dropped dramatically due to the multiple plan providers being on the playing field, and added services like payroll and administration are pretty commonplace. Overall Best Wealth Management Firm: Employee Fiduciary Employee Fiduciary has been voted best plan provider for small companies by CBS Moneywatch. They have set up and administration options for small business 401(k) programs. This top wealth management firm encourages small business employers to compare their provider's 401(k) plans against theirs. Employee Fiduciary has claimed low fees with similar investment options for small employers sponsored by larger organizations. It'll cost a minimum of $1,000 to convert an existing plan while starting a new program is $500. Through TD Ameritrade, Employee Fiduciary offers more than 350 Exchange Traded Funds (ETF), access to brokerage, and mutual funds. Apart from low administration fees for small business 401(k) plans, Employee Fiduciary provides; Tax return forms Customer support on toll-free number Your small business employees can leverage low-cost investment options that include index funds, ETFs, and Vanguard funds. Best Low-cost Funding: Vanguard Vanguard, one of the most significant mutual funds worldwide, also offers several small business-oriented 401(k) plan options . These include ETFs and professionally managed mutual funds. This wealth management firm doesn't administrate the small business 401(k) programs but acts as the plan's money manager. So business owners can handle the HR, payroll, banking, or any other administrative service for their employee's programs. Most participants pick Vanguard investment funds, seeing as this firm has the most inexpensive options in the market. There are over 100 mutual funds, target-date funds, and diversified, low-cost ETFs. Target date funds, for instance, will adjust the underlying investments automatically as your employee's retirement date approaches. Designed to maximize retirement earnings, target funds are a cost-effective investment for bolstering a small business 401(k) plan. Vanguard's services are easy to integrate into your existing plan administration if you have one. This makes their small business specialization the most inexpensive yet.

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  • Where is Employee Fiduciary's headquarters?

    Employee Fiduciary's headquarters is located at 250 State Street, Mobile.

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