Does your company’s 401(k) plan reflect your values? As a specialist in small to medium sized businesses I know in Austin, TX we are rich with companies that have real vision and commitment to their employees and the community. From local distilleries, ice cream makers, to tech companies we have a list of beloved companies that value their employees and the community.
Often, however I see a huge disconnect in what a company communicates to their employees as far as value and what their 401(k) or retirement plan says about their values.
Lastly, does the advisor on your plan know your employees? I love jumping in the trenches and enrolling, educating, and listening to employees. The numbers on the plan health reports you review every year (or should) take on a whole new meaning when you actually know why people are doing what they are doing. Perhaps your loan utilization looks high, but a group of employees took money out for an investment opportunity. Perhaps your enrollment numbers look great, but your first-generation investors are not using the plan. 401(k)s have come a long way, but they need to be an extension of your company’s mission and values if they are going to be effective. I pride myself on my ability to understand a company’s culture and make recommendations that amplify your message.
This article was written by Brendan Pheasant, CFP®, AIF®, ChFC, CPFA - Financial Advisor
2801 Via Fortuna, Suite 450, Austin, TX 78746
Brendan is a registered representative and investment advisor representative of CRI Securities, LLC and Securian Financial Services, Inc. North Star Consultants, Inc., Insurance Products and Services I CRI Securities, LLC., Securities, Investments and Investment Advisory Services I Securian Financial Services, Inc., Variable Products, Securities and Investment Advisory Services North Star Resource Group offers Securities and investment advisory services offered through CRI Securities, LLC and Securian Financial Services, Inc. Members FINRA/SIPC. CRI Securities, LLC is affiliated with North Star Consultants, Inc., North Star Consultants Texas, Inc. and Securian Financial Services, Inc. Securian Financial Services, Inc. operates under separate ownership from North Star Consultants, Inc. and North Star Consultants Texas, Inc. North Star Consultants Texas, Inc. doing business as North Star Consultants of Texas in the state of Texas. 2067810/DOFU 3-2018