Employer Sponsored Retirement Plans
Lifeworks Advisors provides privately held business with 3(21) fiduciary services for employer-sponsored retirement plans: 401(k), Defined Benefit Cash Balance Plans, Profit Sharing, SEP IRAs, Solo 401(k), Non-Qualified Benefit Plans.
- We do not accept soft dollar compensation.
- We have no affiliations with financial service firms (e.g., bank, insurance, brokerage, trust, custody, administration, etc.).
- We have no registered (broker-dealer) representatives.
- We do not sell services to financial service firms.
Lifeworks Fee Structure
Lifeworks believes in a fair and transparent approach to how we are compensated for our services. We’ve built our platform with our clients’ best interests in mind. No commissions, no hidden fees, no account fees, no proprietary products or soft dollar agreements.
We operate on a simple and straightforward fixed fee.
Our services can be paid for directly by the plan sponsor or deducted from plan assets. We bill for our services quarterly, in advance.
Services We Provide
Plan Design & Support
- – Plan design and coordination with retirement plan service provider (Recordkeeper & TPA)
- – Annual plan review and benchmarking of the following: TPA fees, recordkeeping fees, and utilization & participation
- – Plan reprice every two (2) years
- – Investment Policy Statement (IPS)
- – Selection of investment options that align with IPS
- – Design and construction of model portfolios
- – Quarterly performance monitoring
- – Annual benchmarking for fees and performance
- – Quarterly on-site education meetings
- – Quarterly web-based training and education
- – 401(k)/IRA rollover support
- – Help with other financial questions (college savings, retirement, insurance, etc.) on an individual basis