Please note: This is a transcription so there may be slight grammatical errors.
Christine Crowe (00:00):
Up until 2016, we were part of a multi-employer plan for our 401k offering, and that had served us well when we were a smaller firm and the assets within our portion of the plan were smaller. But as we grew in size, and as the size of our participants’ accounts grew, and the total assets in our portion of that plan grew, it became clear to us that we were getting too big to be part of a multi-employer plan, and that we could offer more benefits and lower fees if we struck out on our own and sponsored our own individual plan.
(00:59):
It is an easy decision to decide to go and sponsor your own 401k plan and give your employees and other plan participants better benefits at lower costs, but to actually implement that takes a lot of work. It also requires a good partner to help guide you through that process. And CAPTRUST didn’t just give us the answers to those questions, they gave us the materials that were helpful to us to educate ourselves so that we felt comfortable knowing that we were making the right choice. They walked us through the process of putting the plan out for bidding, for record keepers, how we were going to save money for the plan, which directly goes into the pockets of plan participants, right? The lower fees you pay, the more money that stays in every participant’s account, and they were invaluable as a partner in that regard.
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However, CAPTRUST video presentations are designed to be educational and do not include individual investment advice. Opinions expressed in this video are subject to change without notice. Statistics and data have come from sources believed to be reliable but are not guaranteed to be accurate or complete. This is not a solicitation to Under the Investment Advisers Act of 1940, this video is defined as an advertisement and includes an uncompensated testimonial by a CAPTRUST client. However, CAPTRUST pays for travel and accommodations for clients who have traveled to Raleigh, NC in order to participate in this video. Please be advised that clients’ experiences as described in the video do not necessarily represent the experience of other clients.
Under the Investment Advisers Act of 1940, this video is defined as an advertisement and includes an uncompensated testimonial by a CAPTRUST client. However, CAPTRUST pays for travel and accommodations for clients who have traveled to Raleigh, NC in order to participate in this video. Please be advised that clients’ experiences as described in the video do not necessarily represent the experience of other clients. invest in any legal, medical, tax or accounting advice. If you require such advice, you should contact the appropriate legal, accounting, or tax advisor. All publication rights reserved. None of the material in this publication may be reproduced in any form without the express written permission of CAPTRUST: 919.870.6822 © 2023 CAPTRUST Financial Advisors
