Financial Advisors

ADP 401k plan . I met a prospect that told me he is not happy about the plan he set last year with ADP. Anyone have any experience with their type of plan , etc ?

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ADP and Paychex both have 401k plans that they push on their payroll clients. Their service is garbage. They may or may not have an advisor on their current plan. They probably got a discount on the 401k plan costs by being a payroll client but if it’s a terrible plan it doesn’t matter how cheap it is. Yes, they can keep them for payroll and transition the 401k plan to another firm. John Hancock, One America, American Funds, Principal. They’ll all be way better.

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Yep. Lots of experience. What do you want to know.

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Most have brokers but it’s not a requirement. You can become broker of record with 1 signature. Yes he can use ADP for payroll with a different plan record keeper

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