FixedFee401k Introduces a Better Take on the 401k: Fixed Fees and Comprehensive Plan Support
OVERLAND PARK, Kan., Feb. 21, 2018 /PRNewswire/ -- FixedFee401k has created something entirely new for the 401k industry in response to the industry-wide lack of transparency and high costs found in the small to mid-sized 401k market.
Employers sponsor 401k plans to help participants save for a better retirement, plain and simple. While there are necessary costs to manage a 401k plan, FixedFee401k believes the industry has pushed fees to an unfair level and hurt retirement savings. Marc Wilborn stated, "When we developed FixedFee401k, we considered what would be best for 401k plan participants and the plan sponsor – fixed fees and participant support. In our first year, we have saved businesses 50 percent and more."
Most 401k service providers determine their fees as a percent of the plan assets. As plan assets grow, 401k fees continue to increase, often without providing additional value to participants—FixedFee401k changes that.
FixedFee401k stops escalating fees by establishing fixed fees for advisory services and a flat fee per participant for recordkeeping services, so participants keep more of what they save for retirement. FixedFee401k strives to bring the best funds to 401k plans at the lowest cost, along with a dedicated advisor to support both the plan sponsor and its participants to help maximize results.
FixedFee401k's fundamental difference is fixed fees versus the industry standard asset-based 401k fees. Marc Wilborn, FixedFee401k founder, stated "We believe the fees charged today have 'outgrown' what is reasonable and should be re-priced in today's competitive environment. Current 401k providers like asset-based fees because they create a growing stream of income as the plan grows over time. FixedFee401k removes all asset-based service fees from the plan, so participants avoid paying additional fees on future account growth."
Free 401k plan estimates are available by visiting FixedFee401k.com/cost-calculator/ or you may contact them at [email protected] for more information.
FixedFee401k is a retirement savings plan service provided through Wilborn Advisors in Overland Park, Kansas. Wilborn Advisors travels extensively for their clients and is a proud part of a much larger firm, V Wealth Advisors with over 35 advisors and approximately $1.5 billion under management. Investment advisory services provided through V Wealth Advisors LLC, a registered investment advisor doing business as "Wilborn Advisors".
For more information:
Susan Wilborn
[email protected]
Phone: 913.908.1054
SOURCE FixedFee401k
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