The Partners Circle

The mission of the Partners is to empower all of us to go directly to each other with our expertise. FiduciaryFirst is considered an industry leader and our knowledge and informative blogs can help you gain an understanding about key topics within the industry.

Is a 401(k) an Appealing Benefit for Prospective Employees?

To attract and retain talent, most companies rely on three key employee benefits: Competitive salaries, medical insurance, and a retirement plan. That means your 401(k) plan is a critical component of your employee recruitment and retention program, and can even improve your profitability, reducing the amount of time and money you spend to advertise and fill open positions. According to a study by Wilson Wyatt Worldwide, companies that provide and promote a strong benefits package to attract and retain staff can add 7.3 percent to their bottom lines. Sponsoring a 401(k) plan in your company is important for a number of reasons: Everyone else is doing it. WorldatWork, a nonprofit human resources association, estimates that 95 percent of its member companies offer a 401(k) plan. It’s difficult to retain your talent if you’re not offering a benefits package that’s comparable to other employers. It shows you care. Assisting your employees in...
Continue reading
1046 Hits
0 Comments

Improving Your Employees’ Financial Health Can Also Improve Their Physical Health

Doctors and the medical community have long known that stress can affect health. One of the top contributors to overall stress levels is worry over finances. A 2012 study from Financial Finesse, a California financial education company, shows the reverse is also true: Reducing financial stress can improve health, and significantly reduce health care costs. The study was conducted at a Fortune 500 company, and reviewed the differences in healthcare savings between employees who took advantage of financial education opportunities offered by the company, designed to help them resolve financial problems and reduce financial stress, and those who seldom or never used these services. The study showed a 22 percent savings in healthcare costs from 2009 to 2010 among heavy users of financial services, versus 4 percent for non-users. The study also included information from an AP AOL Health Poll showing the effects of financial stress on the body, including migraines,...
Continue reading
1083 Hits
0 Comments

Learning About Plan Expenses and Fees

Anyone who is responsible for managing a retirement plan like a 401(k) plan is required by law to make sure the plan is operated prudently and that any fees or expenses are reasonable. It’s part of the plan sponsor’s fiduciary responsibilities. However, many plan sponsors don’t know or understand what fees and expenses are, or whether they are appropriate. It’s also important to remember that evaluating fees is an ongoing responsibility–fiduciaries have to monitor fees and expenses and make sure they continue to be reasonable. Plan Fees Plan fees and expenses come in several varieties, but they generally fall into three categories: Investment fees. These fees are typically the largest fees paid by the plan, and they are the amount charged to manage the plan’s investments. Management fees (also called investment advisory fees or account maintenance fees) are usually charged as a percentage of the assets invested, and that means they...
Continue reading
1205 Hits

Client Lockbox

Contact Details

1060 Maitland Center Commons

Suite 360

Maitland, FL 32751

Phone: 866-625-4611

Fax: 407-740-6113

Email: info@fiduciaryfirst.com