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"There is no such thing as a free lunch." |
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- Milton Friedman |
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The industry supporting 401(k)s, defined benefit plans, defined contribution plans, etc., and is in its third stage of evolution. Service providers today compete based upon three major parameters:
- Selection and quality of mutual funds or money mangers;
- Price - By unbundling and analyzing the three major fee categories, plan providers can frequently create major cost savings;
- Management of fiduciary responsibility - Investment Committees must properly document and implement a due diligence process to minimize fiduciary liability;
Noyes Capital is part of a team of providers that can compete and dominate many competitors in the mid-sized plan market (15 to 500 life plans). Our team has three components.
Fidelity Institutional Brokerage Group acts as the custodian. They offer access to over 5,000 mutual funds including over 3,000 no-load, no-transaction fee mutual funds, both Fidelity and non-Fidelity funds, through the Fidelity Institutional Funds Network. Fidelity is the nation's largest 401(k) provider and offers consolidated monthly reports, trust ownership of mutual fund shares, price-per-share reporting, mutual fund clearing and custodial services. We are pleased to be one of a select group of investment advisors that have qualified to be included in Fidelity's Special Load Wavier Program, which allows our clients to purchase mutual funds without a sales charge through Fidelity Brokerage Services.
The Geller Group acts as the plan administrator. This support role allows for customization of the process to meet the needs and goals of the Plan managers. Services include:
- Review of Plan design
- ERISA compliance
- Operations considerations
- ERISA attorneys
- Provide participant access
- Actuarial services
- ERISA Auditors
- Participant support
Noyes Capital acts as the Registered Investment Advisor. As an independent RIA with fiduciary training, Noyes Capital is pleased to act as a listed Investment Fiduciary for the Plan. We provide unbiased guidance, an independent fiduciary review, mutual fund analysis and employee education services.
We believe that our three-party team is likely to reduce your costs, broaden your fund choices and enhance your ERISA fiduciary compliance. Please call us for a complementary plan review. |
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