Financial Advisors

I have a 401(k) plan that I am being requested pricing on for a local medical group. It's about $2M with 57 participants. What would you guys take as far as compensation goes for a plan of this size?

like
Reaction Icon Like
Arrow Icon
Posting as :
works at

Realistically, within 10 years, thee's going to be consolidation within the 401K space, and most plans will (or should be) around 25 bips (or less) to the advisor, and using index funds at <20 Bips.Add in various TPA fees, etc. and they should still be at or below 100 Bips. Maybe that will be higher for small plans because TPA fees are going to have floors, but for moderate size and larger, there's no reason to be over 100 Bips, all-in.

Reaction Icon Like
like
Arrow Icon

25 bps.

Reaction Icon Like
like
Arrow Icon

What was the reason they wanted to change?

Reaction Icon Like
like
Arrow Icon

As you know all plan providers have different fee's as do the funds in the plan . Typically here is what I see in the 401k space . Plans under 1m in assets -1 percentPlans between 1m-2m - .05 percentPlans over 2M- 0.25-3percentWith that being said I just became broker of record on a 6m dollar plan and the RIA firm managing it was charging 0.65 percent. This was a very vanilla 401k with around 120 employees.

Reaction Icon Like
like
Arrow Icon

I'd target 35 bps but would go down to 25 if it was necessary to win the plan.

Reaction Icon Like
Arrow Icon

Related Posts

Currently at Big 4 management consulting post-MBA. Have offers with MBB and FAANG (strategy). Similar comp. Which would you take?

like
Reaction Icon Like
Arrow Icon

I’m looking to exit. What should be my salary expectations for a corporate strategy role in NYC? 2.5 YOE from an MBB (promoted to post-MBA level), Stem background from a good university (not US but another developed country)

like
Reaction Icon Like
Arrow Icon

Am I the only one getting sick of these GDPR emails clogging my inbox?

like
Reaction Icon Like
Arrow Icon

What is the average 2nd year audit senior associate salary in Houston across all big 4 firms?

like
Reaction Icon Like
Arrow Icon

What’s the salary range for M1 in Toronto, Canada?

like
Reaction Icon Like
Arrow Icon

What's the salary range for SA at KPMG? Glassdoor says average is 87.5K and range is 60-135k. Is it pretty accurate?

like
Reaction Icon Like
Arrow Icon

What's the most you've had a salary bumped through negotiation?

like
Reaction Icon Like
Arrow Icon

My boy is just over 1yo. He likes me way more than his mom, excited to see me, upset when I leave, clings more to me when sick or hurt, even knows what to call me but doesn't say mama. Anyone similar?

like
Reaction Icon Like
Arrow Icon

Whats the salary for a senior consultant at Guidehouse roughly? In banking and capital markets specifically. Also how is the WLB for that type of role?

like
Reaction Icon Like
Arrow Icon

What's everyone's bonus and increase percentage looking like? I know GT folks found out today. Is everyone satisfied or ready to quit?

like
Reaction Icon Like
Arrow Icon

does anybody have language regarding donating sick days in their contract?

like
Reaction Icon Like
Arrow Icon

Thinking of moving to a city with a much higher cost of living. Deloitte does not adjust salary at all, right? So even though I live in Chicago, I make around the same as my NYC and SF counterparts?

like
Reaction Icon Like
Arrow Icon

Salary range for in-house director level (PR) in NY?

like
Reaction Icon Like
Arrow Icon

I got sick this week at the client site and I’ve been camping at the hotel. I’ve got a nasty cough, should I wear a mask on the flight? I really don’t want to get anyone sick.

like
Reaction Icon Like
Arrow Icon

We all kinda-sorta knew it, but without much in the way of substantive evidence. But this NYT expose of Trump’s finances is making physically sick.

like
Reaction Icon Like
Arrow Icon

What is the going rate for experienced medical directors for freelance? Thank you!!

like
Reaction Icon Like
Arrow Icon

Need advice. Met a guy in feb, talk everyday, great chemistry, shared interests, values, and goals. Problem is, before we met, I really wanted to experience living on the west coast (currently on the east) & took a job across the country, so ill have to move sometime in the near future. Unsure when I can return & he’s expressed doubts (what if you end up loving it there, etc.) Also, despite having talked for so long, we haven’t done anything physical yet (he’s in a high risk profession) (cont)

like
Reaction Icon Like
Arrow Icon

Non-MBA M1 salary in Tier1 City?

like
Reaction Icon Like
Arrow Icon

What is/was your childcare situation for an older infant / toddler? Nanny? Two nannies? Daycare? If daycare, who picks up and drops off? What about when they are sick? Working on weekends?

like
Reaction Icon Like
Arrow Icon

Had a bit of a breakdown today because I am sick and tired of working harder than the other folks. I’m tired of having to save every cent to pay off loans and to save for my wedding and for kids when white friends/counterparts get to go on extravagant vacations and buy nice things. I understand that many of them come from family money, but why do they get to when I don’t? I’m tired. It’s not fair.

like
Reaction Icon Like
Arrow Icon

Additional Posts

How many IQ points do you lose when you go through onboarding?

like
Reaction Icon Like
Arrow Icon

Currently in industry. Got an offer to go back into public for a 10,000 raise. Current employer offered raise of 5,000 plus an already promised bonus to equal the 10,000. So it is now a lateral...

like
Reaction Icon Like
Arrow Icon

Has anyone taken the SHRM - CP exam, passed and received a bonus at EY

like
Reaction Icon Like
Arrow Icon

How should I tell my team I am pregnant? Context: I found out at the very start of the case and have kept it under wraps despite having to mute some conference calls to vom, etc. We have two weeks left and I plan to be transparent with staffing and future cases going forward, as I’m past 12 weeks, so it’s likely they would find out. I like my team but I don’t have a super close personal relationship with them & this is my first case with this group. Email? Slack message? Zoom call?

like
Reaction Icon Like
Arrow Icon

Spent the whole week prepping the office for “work from home” procedures in light of Covid-19. Company wide email with follow-up meeting this morning to tell everyone it will be business as usual.🤦‍♂️

like
Reaction Icon Like
Arrow Icon

My account partner is doing a terrible job and will be getting fired—timeline TBD. Given we are living in a pandemic, I want to give them a heads up to start job hunting. How inappropriate is that? How could I do it?

like
Reaction Icon Like
Arrow Icon

What is the minimum utilization requirement for a Technology consultant in commercial practice? 90% or 95% ?

like
Reaction Icon Like
Arrow Icon

Recently had a final round with a tech company last Thursday and haven’t heard anything since. Before, they used to notify me the day after about moving to the next rounds. When would be an appropriate time to follow up with the recruiter? Thanks!

like
Reaction Icon Like
Arrow Icon

When you don’t make promotion and get let go, anyone know what kind of termination that is? (“for cause”, lay-off, etc)

like
Reaction Icon Like
Arrow Icon

Considering taking an FP&A senior associate role at mid size public company (3k people) with ~10% raise. Pretty on the fence. Current audit senior (rising S2). Any advice? I think finance is more the direction I want to go but unsure really.

like
Reaction Icon Like
Arrow Icon

Been in the US my whole life, but nobody in this country seems to care when making immigration decisions. Any recs on how to get a member firm transfer? Canada’s not an option - Europe? Aus?

like
Reaction Icon Like
Arrow Icon

As a parent, I'm curious about how you think the quality of education is now differing with the remote learning? Do you think this is a degradation of 25%? 50%? Or are there some benefits?

like
Reaction Icon Like
Arrow Icon

Is this Delta $15k requirement for Diamond kicking anyone else’s butt? My flights are too damn cheap.

like
Reaction Icon Like
Arrow Icon

How is KPMG, Deloitte’s and EY’s Green Card immigration team? PwC’s sucks - already screwed up my friend’s GC process.

Reaction Icon Like
Arrow Icon

Any recs on inexpensive but decent watch winders? Looking for a 4-watch winder. I have a cheap 2-watch one I got on amazon and it doesn’t seem to work with one of my watches (works on rest).

like
Reaction Icon Like
Arrow Icon

Was looking to apply to Cap One in McLean as either senior associate or senior business analyst. Wanted to see insights into pay and culture at Cap one. Currently C with 2+ years experience

like
Reaction Icon Like
Arrow Icon

Do any minorities feel insulted by PwC essentially implementing a quota for hiring of minorities?

like
Reaction Icon Like
Arrow Icon

junior here! how important are benefits? I’ve been freelancing since I graduated...

Reaction Icon Like
Arrow Icon

Which one would you choose: Better company with a role less inline with your goals or a role more inline with your goals but at a less reputable/industry leading company?

like
Reaction Icon Like
Arrow Icon

Project just wrapped (early) and now I’m on the bench between Thanksgiving and Christmas. Just exactly how screwed am I trying to find a new gig before Xmas? Same approach as normal? Any tips?

like
Reaction Icon Like
Arrow Icon
That was just a preview…
Sign Up to see all discussions
  • Discover what’s it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

OR

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

Please enter a valid number