Frequently Asked Questions
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A. An advisor can either be paid from fees charged directly to the plan participants or plan sponsor, or from a portion of the investment management or servicing fee built into the pricing structure of a packaged product. In some cases, a combination of the methods may be used. You should expect your advisor to explain in detail how he or she gets paid and what functions will be performed to earn that compensation. We fully disclose all of our fees, and may be able to simply take over for your existing representative/broker/advisor/agent.
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A. In many situations, even when dealing with a direct-sold provider, we can use our expertise and experience to reduce your fees (including investment management fees and recordkeeping expenses) by more than our fee, resulting in a net savings to participants and/or the corporation. Even if there is an increase in fees, we will make sure you understand exactly what you are paying for and the value you will receive.
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A. Yes. Many times our compensation is already built in and is being paid to another advisor/agent/consultant/broker regardless of what services they are providing. We can review this arrangement with you before you or your company decides to do business with us.
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A. Yes. We work with companies that have locations across the country.
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A. We work with companies of all sizes.
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A. Typically, yes. With that knowledge in hand, you can compare our services with what you are currently receiving and make a decision based on what is best for you and your participants.
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A. From ERISA, a fiduciary must act "with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of the like character and with like aims." ERISA 404(a)(1)(B). We can help you fulfill this requirement.
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A. We help compare your record keeper to others in the industry to define the current market for plans that are comparable to your size. With that knowledge, it is easier to determine if your plan is reasonable.
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A. Sit down and talk with us. We will be more than willing to do a review of your current plan and the services you are receiving. Once we understand the source of your dissatisfaction, we can recommend the remedy. It may be just tweaking your existing program with your current record keeper, or it may be finding an alternative that satisfies your needs.
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A. Start by selecting an advisor, then select a provider (record keeper), and finally select the provisions of your plan. If you select us as your advisor, we can then assist with the entire RFP process to find a provider, and walk you through the various provisions to improve a retirement plan. We can significantly reduce the time you will be investing to make changes, increase the expertise and the odds of making an informed and knowledgeable decision, quarterback the conversion process, and be there to provide ongoing monitoring and revisions.
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A. Any investment-related plan for corporations, nonprofits, foundations or endowments including: 401(k), 403(b) and 457(b), profit sharing money purchase, defined benefit, and non-qualified deferred compensation.
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A. Raymond James has a full-service investment bank that can assist business owners with transition issues, an insurance division to help with key man and succession planning, and a host of other programs to address nearly any financial need that may arise.
There is no assurance that any investment strategy will be successful. In a fee-based account, clients pay a quarterly fee, based on the level of assets in the account, for the services of a financial advisor as part of an advisory relationship. In deciding to pay a fee rather than commissions, clients should understand that the fee may be higher than a commission alternative during periods of lower trading. Advisory fees are in addition to the internal expenses and management fees charged by exchange-traded funds and other investment company securities. To the extent that clients intend to hold these securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs. These additional considerations, as well as the fee schedule, are listed more fully in the Client Agreement and the Raymond James & Associate's Form ADV Part 2A and Wrap Fee Program Brochure, which can be obtained through our office.
