Knowledge base of 401kFiduciaryOptimizer
Base info
FAQ
Low Fee Alternatives/Classes
404(c) Diversification Report
404(c) Menu Variety Report
Performance Report/Back-test Data
Plan Screener, Working with Plans
Before you start using the software – we recommend that you alter your settings first. This way once you make the changes to your account they are saved and you do not have to alter them every time! Step 1. Select the Person Icon in the top Right
In the case that you are restricted to a provider list – we provide the ability to only optimize with those funds. This video will show you how to upload a provider list. As a side note you are able to create a provider list in our fund screener that can be easily uploaded as a provider list in your 401k Fiduciary Optimizer account!
We do provide a data base of audited plans that you are able to look up in the tool. In this plan screener there are filters that allow you to pull up a list in your area, or you are able to look up a plan specifically by name or EIN.
The best way to utilize the optimizer is to have a up to date plan line up. This video will show you how to load a plan into the system, weather that plan being in the database or not.
It is a good rule of thumb to check if your data is correct. We have created this video to demonstrate how to make these checks, and shows you how to make any sort of correction that needs to be made.
The low fee alterative page is a great page to start on. This video will highlight the columns on the page. And how to alter the suggest funds if needed.
Diversification is a concern that must be addressed in order for a plan to provide enough options for its participants to have the ability to invest in options that are in their risk preferences.
To get a full understanding of what the costs will come out to, you will need to incorporate both the fees that they are being charged by their current provider, and what you will charge them to provide a service to their plan. This video goes over where these fees can be added, and where to find a rough estimate of what a plan’s current provider is charging.
The final step of optimizing a plan is to create a PDF of the reports or reports that you have created with in the software. This PDF will come in handy when you are in a meeting with a plan sponsor and would like present your value to the sponsor in an obvious way.
