A BETTER 401(k)

FiduciaryShield helps businesses
manage their retirement plan with confidence and ease
by administering the plan fiduciary process.

Contact Info

3639 Cortez Road West - Suite 239
Bradenton FL 34210

Phone: (941) 961-401K

1 (941) 761-401(K)5
Info@FiduciaryShield401k.com

FAQ

/FAQ
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Have questions? We have the answers.

Who is FiduciaryShield?

FiduciaryShield was designed to manage your business’s retirement plan to take the complex work off your plate by administering the plan fiduciary process for you.  Our comprehensive 401(k) management system delivers a low-cost, high-service 401(k) solution for businesses of all sizes. Our plans include recordkeeping, TPA, custodial, advisory, and full fiduciary services. FiduciaryShield manages your 401(k) plan for you, so you can focus on running your business.

How is FiduciaryShield different?

Offering a 401(k) shouldn’t be a liability. Nobody reduces 401(k) fees, work, and risk like we do. Unlike any other 401(k) provider in the industry, FiduciaryShield appoints professional fiduciaries to handle the primary fiduciary roles for you. This allows you to focus on running your business while we take on the fiduciary risk and administrative complexities of running your plan.  We’ve been able to negotiate amazing prices with the industry-best providers allowing us to save up to 60% for many companies.

Who is a Fiduciary?

You are for one. There may be other fiduciaries on your plan as well.  The law governing 401(k) plans (ERISA) defines a fiduciary as anyone who:

  • Exercises any discretionary authority or control over the management of the plan or its assets.
  • Has any discretionary authority or responsibility in the administration of the plan.
  • Renders investment advice for a fee or other compensation, with respect to any moneys or other property of the plan, or has any authority or responsibility to do so.

As a “Plan Sponsor” you have a fiduciary responsibility to make sure the plan is in compliance as well as you are also responsible to make sure the service providers are in compliance as well. That’s where FiduciaryShield can help.  To learn more about how FiduciaryShield helps takes on fiduciary risk and work for you, click here.

How much does a FiduciaryShield 401(k) plan cost?

That can vary based upon the demographics of your plan, however our goal is to reduce cost well below the industry average and your plan pier group( plans similar to yours). This not only saves you money,  it reduces the litigation risk to you as well. One of the ways we reduce cost is by offering institutional investments at the same cost as the Fortune 500 companies get. We bring negotiating power that you could not get by yourself.   For more information on pricing or a custom quote, click here.

Does custom plan design cost extra?

No. We do NOT believe in the “bait and switch” approach that many providers use. We do a custom plan design for every one of our clients so we can tailor every plan feature to meet your needs. This includes custom matching, Safe Harbor plans, profit sharing, vesting schedules, eligibility, enrollment periods, loan provisions, and more. Our experts can tailor the plan to you while ensuring your plan meets regulatory requirements.

Does annual required compliance testing cost extra?

No. These features and services are included at no extra cost to you. While others charge for this testing we include everything in our plans. Keeping you compliant is at the forefront of our concerns. We never want fees to be an obstacle to that.

Does FiduciaryShield charge me an initial plan document fee?

FiduciaryShield has no plan document charges when setting up a plan because we use a proprietary plan document in a custom model. We have already paid for the plan documents so that you don’t have to!

How does FiduciaryShield help with my annual 5500 filing?

We don’t just prepare your form 5500 for you, we also review it, and file it. We understand you are not in business to understand ERISA IRS 401(k) rules. We will make sure your from 5500 is in proper order.  Unlike many firms out there, we are proactive instead of reactive. We know what goes on the form 5500 and work throughout the year to assure you won’t have IRS red flags from this filing. This helps take work off your plate and more importantly, eliminates significant fiduciary risk.

Will I have a dedicated plan contact?

Yes. You will have a dedicated plan contact at FiduciaryShield for any questions that arise. Your plan contact will work with all of the service providers on the plan to find answers to your questions and provide solutions to any issues that may arise.

Does FiduciaryShield run enrollment meetings?

Yes. We do that too. If you’re plan doesn’t have a financial advisor to come run your enrollment meeting, we’ll do it for you. We offer numerous ways to make this convenient, such as  pre-recorded webinars, live webinars, and live enrollment meetings depending on plan size and company location.

Can a FiduciaryShield401(k) integrate with my payroll provider?

Yes. We have worked with our Recordkeeper to develop state of the art technology that builds integration with a variety of different payroll providers. Regardless of who your payroll provider is, we can typically build some level of integration and custom reporting to make sure that submitting your payroll information only takes you a few minutes. Learn more about how we integrate with payroll providers here.

What type of investments are available?

Our platform is open-architecture providing access to almost every possible investment option allowed within a 401(k) plan. Because we appoint Registered Investment Advisory Firms as the investment managers on your plan, your employees will have access to individual investments, diversified model portfolios and target date options built with the best, low-expense funds on the market. This sophisticated and low-cost approach makes investment decisions easy for employees. The average expense ratio in our fund lineups, including the pre-built model portfolios, is just .19% .  Compare that to an industry average of 2.19%.

Can participants change and rebalance investments online?

Definitely. Employees have the ability to change their investment allocations and rebalance their accounts as often as daily. The website and 800 number make access and account management easy.

How long does it take to change 401(k) providers?

If you have an existing plan, it typically takes a minimum of 45 days to change plans because there is a required 30-day notice that has to be issued to employees. But don’t worry, during that time you’ll likely only have to do about 90 minutes of work since we do the majority of the work for you.

How long does it take to setup a new plan?

We can setup a new plan in as quickly as 7-15 days depending on how fast you can get us the information we need. However, if the new plan is a Safe Harbor plan, there is a required 30-day notice that must go out to employees which extends the time frame to about 45 days.

What size companies does FiduciaryShield work with?

FiduciaryShield works with employers of all sizes. Our services are of need for every size plan. While fortune 500 companies have the resources to hire inside ERISA Plan experts many of them are still outsourcing this need because of the benefit of using an independent fiduciary. Small to mid size plans find the economies of scale we can offer to be a great value allowing them to access the same services a Fortune 500 uses.

Can FiduciaryShield work with my existing financial advisor?

Absolutely! Financial advisors love working with us and we’re happy to keep them on the plan if that’s your preference. A FiduciaryShield plan can run with your current advisor, without an advisor, or we can even help you find a new advisor who will provide value for your plan and the participants.

Is FiduciaryShield insured and bonded?

Yes. As plan fiduciaries we maintain bonding for each and every plan we service. FiduciaryShield also carries various other umbrella and fiduciary liability insurance policies to protect plan participants and assets.

Where will the plan assets be held?

While we have the capability to work with a number of different custodians, we custody a large portion of our assets with TD Ameritrade because of their exceptional service and reputation in the industry.

Can I setup a 401(k) plan for multiple companies?

Yes. We do this for a number our clients that have multiple companies with common or separate ownership. In our setup process, we’ll help you determine the most efficient structure for pricing and operating plans for multiple companies depending on whether or not those plans constitute a controlled group or an affiliate services group. This is part of our plan design process.

Does FiduciaryShield allow revenue sharing or indirect compensation?

No! Indirect compensation almost always creates a conflict of interest so we don’t allow it. All fees to financial advisors and other service providers on our plan are disclosed up front and paid directly from the plan or employer to the provider. If a fund is ever selected that has revenue sharing, it goes straight back to the plan!

FiduciaryShield was designed to manage your business’s retirement plan to take the complex work off your plate by administering the plan fiduciary process for you.  Our comprehensive 401(k) management system delivers a low-cost, high-service 401(k) solution for businesses of all sizes. Our plans include recordkeeping, TPA, custodial, advisory, and full fiduciary services. FiduciaryShield manages your 401(k) plan for you, so you can focus on running your business.

As a business owner, you are, for one. There may be other fiduciaries on your plan as well.  The law governing 401(k) plans (ERISA) defines a fiduciary as anyone who:

  • Exercises any discretionary authority or control over the management of the plan or its assets.
    • Has any discretionary authority or responsibility in the administration of the plan.
    • Renders investment advice for a fee or other compensation, with respect to any moneys or other property of the plan, or has any authority or responsibility to do so.

As a “Plan Sponsor” you have a fiduciary reposnibility to make sure the plan is in compliance as well as you are also responsible to make sure the service providers are in compliance as well. That’s where FiduciaryShield can help.  To learn more about how FiduciaryShield helps takes on fiduciary risk and work for you, click here.

Offering a 401(k) shouldn’t be a liability. Nobody reduces 401(k) fees, work, and risk like we do. Unlike any other 401(k) provider in the industry, FiduciaryShield appoints professional fiduciaries to handle the primary fiduciary roles for you. This allows you to focus on running your business while we take on the fiduciary risk and administrative complexities of running your plan.  We’ve been able to negotiate amazing prices with the industry-best providers allowing us to save up to 60% for many companies.

Yes. We do this for a number of clients who have multiple companies with common or separate ownership. During our setup process, we’ll help you determine the most efficient structure for pricing and operating plans for multiple companies depending on whether or not those plans constitute a controlled group or an affiliate services group. This is part of our plan design process.

While we have the capability to work with a number of different custodians, we custody a large portion of our assets with TD Ameritrade because of their exceptional service and reputation in the industry.

Absolutely. As plan fiduciaries we maintain bonding for each and every plan we service. FiduciaryShield also carries various other umbrella and fiduciary liability insurance policies to protect plan participants and assets.

Absolutely! Financial advisors love working with us, and we’re happy to keep them on the plan if that’s your preference. A FiduciaryShield plan can run with your current advisor, without an advisor, or we can even help you find a new advisor who will provide value for your plan and the participants.

We can setup a new plan in as quickly as 7-15 days depending on how fast you can get us the information we need. However, if the new plan is a Safe Harbor plan, there is a required 30-day notice that must go out to employees which extends the time frame to about 45 days.

If you have an existing plan, it typically takes a minimum of 45 days to change plans because there is a required 30-day notice that has to be issued to employees. But don’t worry, during that time you’ll likely only have to do about 90 minutes of work since we do the majority of the work for you.

Definitely. Employees have the ability to change their investment allocations and rebalance their accounts as often as daily. Our website and 800 number make access and account management easy.

Our platform is open-architecture providing access to almost every possible investment option allowed within a 401(k) plan.

Because we appoint Registered Investment Advisory Firms as the investment managers on your plan, your employees will have access to individual investments, diversified model portfolios and target date options built with the best, low-expense funds on the market. This sophisticated and low-cost approach makes investment decisions easy for employees.

The average expense ratio in our fund lineups, including the pre-built model portfolios, is just .19% – compare that to an industry average of 2.19%.

Yes. We have worked with our Recordkeeper to develop state of the art technology that builds integration with a variety of different payroll providers. Regardless of who your payroll provider is, we can typically build some level of integration and custom reporting to make sure that submitting your payroll information only takes you a few minutes. Learn more about how we integrate with payroll providers here.

Yes, we do that too! If your plan doesn’t have a financial advisor to come run your enrollment meeting, we’ll do it for you. We offer numerous ways to make this convenient including pre-recorded webinars, live webinars, and live enrollment meetings (depending on plan size and company location).

Yes, you will have a dedicated plan contact at FiduciaryShield for any questions that arise.  Your plan contact will work with all of the service providers on the plan to find answers to your questions and provide solutions to any issues that may arise.

We don’t just prepare your form 5500 for you: we also review it and file it. We understand you are not in business to understand ERISA IRS 401(k) rules, so our team ensures your form 5500 is in proper order.  Unlike other firms, we are proactive instead of reactive. We know what important information belongs on the form 5500 and work year-round to shield you from IRS red flags resulting from this filing. This helps take work off your plate and more importantly, eliminates significant fiduciary risk.

FiduciaryShield has no plan document charges when setting up a plan because we use a proprietary plan document in a custom model. We have already paid for the plan documents, so you don’t have to!

No. These features and services are included at no extra cost to you. While others charge for this testing we include everything in our plans. Keeping you compliant is at the forefront of our concerns. We never want fees to be an obstacle to that.

No! Indirect compensation almost always creates a conflict of interest so we don’t allow it.  All fees to financial advisors and other service providers on our plan are disclosed up front and paid directly from the plan or employer to the provider.  If a fund is selected that has revenue sharing, it goes straight back to the plan!

That can vary based upon the demographics of your plan.  However our goal is to reduce cost well below the industry average and your plan pier group (plans similar to yours). This not only saves you money, but it reduces the litigation risk to you as well. One of the ways we reduce cost is by offering institutional investments at the same cost as the Fortune 500 companies get. We bring negotiating power that you could not get by yourself.   For more information on pricing or a custom quote, click here.

No. We do NOT believe in the “bait and switch” approach that many providers use.  FiduciaryShield offers a custom plan design for each of our clients, so we can tailor every plan feature to meet your needs. This includes custom matching, Safe Harbor plans, profit sharing, vesting schedules, eligibility, enrollment periods, loan provisions, and more. Our experts can tailor the plan to you while ensuring your plan meets regulatory requirements.

FiduciaryShield works with employers of all sizes. Our services are valuable to any size plan. While Fortune 500 companies have the resources to hire inside ERISA Plan experts, many of them are still outsourcing this need because of the benefit of using an independent fiduciary. Small to midsize plans find the economies of scale we offer to be a great value, allowing them access to the same services as a Fortune 500 company.

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