We talk to a lot of businesses about their 401(k) plans. After we briefly explain what we do and why we believe we can help, the typical response is, “No, thanks. We’re happy with our current provider.”
To be fair, there are many solid 401(k) providers out there. But to be equally fair, there are many pickpockets too -- rather than stealing your wallet, they quietly raid your retirement account without you knowing. How do they do it? Through underperforming funds and Where’s-Waldo fees (…they are there – you just can't seem to find them).
So here’s the deal. If you haven’t reviewed your plan in at least three years, you really should. Fees in the industry have fallen in recent years, and most providers do not proactively reduce fees for existing clients. (Although they happily reduce them for new clients to win their business, which drives us nuts. Is your loyalty worth nothing?)
Also, if you don’t know exactly how much your financial advisor receives in fees from your plan each year – we’re talking the actual dollar amount – or you don’t know how much your third-party administrator or record keeper makes off your plan, you truly cannot afford putting off a review of your 401(k) plan. Every day you delay may be another day you line the pockets of your 401(k) providers through the hole in the bottom of your retirement account.
Fortunately, we’re here to help – honestly. Invisor makes it simple for you to review your plan in a logical and objective manner, and we do all the heavy lifting. Even better, the information we need to run our analysis will take you less than 15 minutes to collect. For that small investment of time, we provide you with a report packed with valuable information that ultimately helps you answer the biggest question of all: Are we getting a good deal on our 401(k) plan?
At the start we said we aren’t interested in winning your business. That’s true. We feel like we should earn it. And we would love an opportunity to show you how we intend to do just that. If you’re interested, contact us today.
We can’t wait to hear from you!
The Invisor Team