Retirement Plan Services

401k financial advisor

Can Retirement Plan Benefits Add To Your Bottom Line?

The average worker has three major assets: their job; their home; and their retirement plan.  Successful businesses have one major asset: their workforce.

Today, employee productivity and financial wellness are inextricably entwined.  “Seven out of 10 HR professionals indicated that personal financial challenges have a ‘large’ or ‘some’ impact on overall employee performance.  Of these HR professionals, approximately one-half reported that employee’ stress (50%) and their ability to focus on work (47%) were the aspects of employee performance that were most negatively affected by personal financial challenges.”[1]

It’s all about return on your greatest asset, your people.  A well-constructed retirement plan, coupled with professional advice and guidance for your employees can improve their financial wellness.  This increases workplace productivity and that adds to your bottom line.[2]

[1] Financial Wellness in the Workplace © SHRM 2014

[2] Financial troubles can decrease productivity by as much as 20 hours per month.  Cost to business: $15,000 per year per affected employee—Source: The Journal of Employee Assistance, 1st Quarter 2009, January 1, 2009.

Why BPU — at the Plan Level…

Did you know that you’re a fiduciary? As a plan sponsor, trustee or investment committee member, you manage the assets of another person and stand in a special relationship of trust, confidence and legal responsibility. While you don’t make decisions at the employee account level you do manage the decision-making process for selecting your plan’s service providers and investment options. That makes you a fiduciary.

Since the ENRON collapse and the financial crisis of 2008, fiduciaries have come under heightened scrutiny. According to a December 22, 2017 article in, “Proprietary fund lawsuitsare viewed by plaintiffs’ firms as one of the types of excessive fee cases that are likely to get past motions to dismiss; and so it stands to reason that more—potentially many more—of these lawsuits are on the way.”

BPU, as a 3(21) co-fiduciary, has a long history of providing unbiased,independent advice to plan sponsors. We collaborate with you in the areas of prudent investment practices
including plan governance, investmentdue diligence and ongoing monitoring.

As your 3(21) co-fiduciary BPU collaborates with you to implement a Fiduciary Quality Management System. We organize, formalize, implement and monitor all aspects of your plan. This system adheres to the 7 Global Fiduciary Precepts defined by the Center for Fiduciary Studies:

  1. Know standards, laws and trust provisions.
  2. Diversify assets to specific risk/return.
  3. Prepare investment policy statement.
  4. Use “prudent experts” (Investment Managers and document due diligence.)
  5. Control and account for investment expenses.
  6. Monitor the activities of “prudent experts”.
  7. Avoid conflicts of interest and prohibited transactions.

Many retirement plan providers offer “bundled” services. They function concurrently as the plan consultant, the custodian, the record-keeper, the administrator, the directed trustee and the investment provider. If one company provides all of the products and services necessary for your plan to function, can they be independent, objective and unbiased? Do bundled plans have conflicts of interest? Can bundled providers fully align themselves with your interests as co-fiduciary?

Unbundling mitigates these embedded conflicts. That is why BPU works with you as a co-fiduciary and together we select record-keeping and administration, custodial functions, directed trustee responsibilities, and, investment options that are independent of one another. This also allows for any service or investment option to be replaced, independent and irrespective of the others.

Why BPU — at the Employee Level…

As a leading, regional wealth management firm, BPU’s depth of experience helps you and your employees thoughtfully ask and answer four fundamental questions:

These questions are the building blocks of BPU’s comprehensive approach to wealth management—four fundamental questions upon which our relationships are built counsel is given and decisions are made.

BPU is an avid proponent of participant education. We believe theory should translate into action. That is why we regularly provide both group education meetings and one on one participant advice and guidance.

Our complementary skill sets of co-fiduciary prudent investment practice and wealth management enable plan sponsors to conform to the highest standards of investment fiduciary responsibility as defined by ERISA and the Pension Protection Act. Through financial education and one on one advice and guidance for participants, BPU lays the foundation for improved employee financial wellness and a renewed level of productivity. The result – both you and your employees benefit from each corporate and personal plan dollar invested.

Five Questions for Your Advisor

  • Will you put the plan and its participants’ best interests above all others?
  • Will you act with prudence; that is, with the skill, care, diligence and good judgment of a professional.
  • Will you provide conspicuous, full and fair disclosure of all important facts?
  • Will you avoid conflicts of interest whenever possible?
  • Will you fully disclose and fairly manage, in the plan and participants’ favor, unavoidable conflicts?

Retirement Plan Services Brochure