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Thrift Savings Plan-Like 401(k)s Are the Key to Closing the Small Business Coverage Gap Posted Eric Droblyen on Aug 15, 2017 "More than half of the 55 million Americans who are not offered a retirement plan through their employers work for small businesses. While some see this longstanding coverage gap among small firms as an unsolvable problem, others see a market opportunity. This is the fifth blog post in a series that will feature perspectives from entrepreneurs and intra-preneurs in both the for-profit and ... Read Post
2017 Ranking & Reviews: Top Ranking Best 401k Plans Posted Eric Droblyen on Apr 10, 2017 AdvisoryHQ’s List of Top 6 Best 401k Companies List is sorted alphabetically ADP American Funds Betterment for Business Edward Jones Employee Fiduciary Fidelity Investments Read Post
4 Ways To Spot 401(k) Rip-Offs Posted Holly Roussel-Godfrey on Apr 10, 2017 When you buy just about anything these days, it's easy to go online to price compare. You know pretty quickly whether you're getting a good price. But 401(k)s are a different beast. Although the government requires disclosure on fees, it's not easy to tell whether you're paying too much. Millions are, but will never know it. Of course, neither your employer nor the government will tell you ... Read Post
One Proven Way To Boost Your 401(k): Lower Fees Posted Holly Roussel-Godfrey on Apr 5, 2017 What if the expense ratios on your retirement funds are way too high? You'll need to ask some questions and demand some action from your plan administrator. According to Employee Fiduciary, here are the right questions to ask... Read Post
Employee  Fiduciary Releases Small Business 401k Plan Design Study Posted Holly Roussel-Godfrey on Nov 30, 2016 Study summarizes the most common plan designs used by 2,767 small business 401k plan sponsors nationwide Read Post
New Online 401(k) Plans Disrupt Retirement Market Posted Holly Roussel-Godfrey on Sep 1, 2016 Read Post
Eric Droblyen Comments On The Evolving Micro 401k Plan Market Posted Holly Roussel-Godfrey on Nov 13, 2015 401(k) Solutions for Micro Plans. The recent announcement that Betterment is getting into the 401(k) business prompted a review of solutions for the micro plan market. Employee Fiduciary mentioned in an article on PlanSponsor. Read Post
Eric Droblyen Rebukes Hyperbole Used by Betterment CEO When Describing Company’s New 401k Product Posted Holly Roussel-Godfrey on Nov 13, 2015 Stakeholders respond to Betterment’s launch. Robo-advisory platform for 401(k) plans making waves. Employee Fiduciary mentioned in an article on BenefitsPro. Read Post
Eric Droblyen Predicts How the DOL’s Fiduciary Rule Might Affect 401k Recordkeepers Posted Holly Roussel-Godfrey on Nov 13, 2015 Will New DOL Rule Contain Fiduciary Surprise for 401k Recordkeepers? Eric Droblyen, President of Employee Fiduciary, was quoted by FiduciaryNews.com. Read Post
Employee Fiduciary Releases a Real-World Database of Small Business 401k Fees That Names Names with Full Dollar Cost Disclosures Posted Holly Roussel-Godfrey on Sep 29, 2015 Employee Fiduciary has released its database of 401k fee comparisons compiled from live data over the last twelve months. The database lifts the lid on the overly complex and often misleading fees charged to small business retirement plans. The database identifies plan providers by name and provides searchable data that allow plan sponsors to compare and benchmark their current plan fees. Read Post
Simpler, Less Expensive 401(k) Options Posted Holly Roussel-Godfrey on Sep 11, 2015 Employee Fiduciary recognized as a pioneer by New York Times! Read Post
Employee Fiduciary Recommended in Interview with Mark Zoril Posted Holly Roussel-Godfrey on Aug 24, 2015 In an interview for FitSmallBusiness.com, "How small businesses can provide employees with a retirement plan? An Interview with Mark Zoril," Zoril recommends Employee Fiduciary for 401k recordkeeping. Read Post
Employee Fiduciary Announces Subsidiary Posted Holly Roussel-Godfrey on Aug 5, 2015 Frugal Financial Delivers Low Cost, Fiduciary-Grade Investment Advice to 401k Plans Employee Fiduciary has announced the launch of Frugal Financial Retirement Plan Services, LLC (“Frugal Financial”), a wholly-owned subsidiary. Frugal Financial is a registered investment advisor, serving 401k and other types of retirement plans exclusively. It’s Frugal Financial’s mission to complement and ... Read Post
Employee Fiduciary Launches Financial Advisor Directory Posted Holly Roussel-Godfrey on Jul 29, 2015 Employee Fiduciary, LLC announces the launch of its new, online Financial Advisor Directory.  The directory will include the general contact information, website, types of plans administered, years in business, and credentials of all Employee Fiduciary financial advisor partners who submitted their business listing and have at least one plan with Employee Fiduciary. A search can be done by ... Read Post
Employee Fiduciary Announces Record Sales for First Half of 2015 Posted Holly Roussel-Godfrey on Jul 10, 2015 Employee Fiduciary announces record sales for the first half of 2015. The company saw a 64% increase in sales compared to the first half of 2014. With proposals up 65% compared with last year, Employee Fiduciary anticipates their rapid growth to continue for the remainder of 2015.  Read Post
Small Companies Now Have No Excuse for a Lousy Retirement Plan Posted Eric Droblyen on Jun 3, 2015 Eric Droblyen, president of Employee Fiduciary was quoted in an article on Bloomberg Business. Business owners might pay more attention to these fees if they were coming directly out of the company coffers. Instead, the fees are often passed on to workers in the form of higher mutual fund expenses. “If it’s not affecting your company bottom line, you don’t pay attention to fees,” said Eric ... Read Post
Benefits experts debate long-term impact of fiduciary rules on employers Posted Eric Droblyen on Jun 3, 2015 Eric Droblyen, president and COO of Employee Fiduciary was quoted in an article on Employee Benefits News. “When the president announces that a proposed regulation has gone to the OMB it is clearly a priority for the administration,” said Eric Droblyen, president and COO of Employee Fiduciary, LLC in St. Petersburg, Fla. “I have to believe the DOL has learned a lesson in listening to the ... Read Post
Greg Carpenter interviewed by Nick Thorton Posted Greg Carpenter on Feb 25, 2015 Greg Carpenter was interviewed by Nick Thorton, BenefitsPro.com. "Putting clients’ interests first all along." Greg Carpenter, a co-founder of Employee Fiduciary, a Mobile, Alabama-based RIA that specializes in the small-plan market, thinks the DOL’s proposed rule will, in fact, be disruptive to the 401(k) market, which remains dominated by the broker-dealer world, not RIA fiduciaries who ... Read Post
Greg Carpenter interviewed by the WSJ Posted Greg Carpenter on Feb 20, 2015 Greg Carpenter was interviewed by the WSJ: "How to Lobby for a Better 401(k)." Consider writing a letter. "You've got to frame the request. Keep it positive. Put it in writing. Be prepared to assist," says Greg Carpenter, chief executive of Employee Fiduciary, which is based in Mobile, Ala., and offers record- keeping services to 401(k) plans. Read Post
Article by Greg Carpenter published on MarketWatch Posted Greg Carpenter on Feb 13, 2015 Contrary to popular belief, it can be easy for small businesses to cut through the red tape and evaluate their 401(k) fees — even the ones that don't appear on a Form 5500 or quarterly statements. Read the article by Greg Carpenter "3 Easy Steps for Small Businesses to Evaluate 401k fees," on MarketWatch.com.  Read Post
Greg Carpenter discusses 401k Plans with Donna Fuscaldo Posted Greg Carpenter on Jan 30, 2015 Employee Fiduciary founder, Greg Carpenter discusses, "4 Ways to Tell if Your #401k is a Bad Egg," with Donna Fuscaldo at DailyFinance.com. Other than listing the fund's expense ratio, the industry isn't required to disclose where the money goes, making it easy to bury fees, says Greg Carpenter, founder of Employee Fiduciary. Which is why one sign you might be paying too much is when your ... Read Post
Eric Droblyen Interview with Jill Cornfield Posted Eric Droblyen on Jan 29, 2015 Eric Droblyen Interviewed with Jill Cornfield - Asset International - "Two Sides Start Duking It Out on Fiduciary Rule." Read Post
How small business 401(k) plans will look in 10 years Posted Greg Carpenter on Dec 15, 2014 An article by Greg Carpenter: "How small business 401(k) plans will look in 10 years" published on MarketWatch.com. By 2025, I believe all small business 401(k) plans will be cheap, simple to administer and free of conflicts of interest. Hidden fees will be gone. Plan participants will have access to a universe of investment choice and choose among the leading providers of investment ... Read Post
10 Insider Blogs Every 401k Plan Sponsor & Fiduciary Must Read (Part I) Posted Greg Carpenter on Nov 25, 2014 Greg Carpenter, founder of Employee Fiduciary, is mentioned in this article, "10 Insider Blogs Every 401k Plan Sponsor & Fiduciary Must Read (Part I)" from FiduciaryNews.com. Read Post
Employee Fiduciary Announces Free 401k Fee Comparison Service Posted Greg Carpenter on Jun 5, 2014 Employee Fiduciary, LLC today announced a new fee comparison service for 401k plan sponsors. The company will review and interpret a service provider’s Section 408(b)(2) fee disclosure document and plainly summarize its fees in dollars - both direct fees and indirect fees paid by mutual fund companies. There is no cost for this service. Read Post
401k Fee Disclosure One Year Later: What We’ve Learned Posted Greg Carpenter on Jul 16, 2013 Greg Carpenter quoted by Fiduciary News. Speaking for many, Greg Carpenter, Founder & CEO of Employee Fiduciary in Mobile, Alabama says, “I do not believe the 401k Fee Disclosure Rule has been successful. The Department of Labor still allows investment providers to obfuscate fees. I have not seen any evidence the 401k Fee Disclosure Rule has been successful. It’s been business as usual with ... Read Post
Don’t Get Duped by Investment Fees Posted Greg Carpenter on Nov 27, 2012 According to Greg Carpenter, chief executive of Employee Fiduciary, retirement investors are better off choosing passive mutual funds like an index fund or an ETF  for their portfolio to avoid fees and have a greater portion of their money grow. “You really need to figure out why you’re paying (for an actively-managed fund) because a lot of the time you have a match from your employer. Why ... Read Post
Old School: The 401(k) Paper Chase Posted Greg Carpenter on Nov 15, 2012 Old School: The 401(k) Paper Chase November 15, 2012 I recently spoke with Greg Carpenter, founder of Employee Fiduciary, a small business 401k administrator, who agreed that lack of clarity on plan expenses and share classes – whether a conscious decision on the part of the industry, or not – are probably a more important topic for advocates to tackle. Read Post
10 Things 401(k) Plans Won’t Tell You Posted Greg Carpenter on Nov 9, 2012 10 Things 401(k) Plans Won’t Tell You November 9, 2012 Early contributors to 401k plans were mostly high earners, since they had the biggest tax bill and thus the greatest incentive to sock away pretax dollars in the plans, says Greg Carpenter, CEO of Employee Fiduciary, an independent administrator of 401k plans. Read Post
Paring 401(k) Expenses Posted Greg Carpenter on Sep 11, 2012 Paring 401(k) Expenses September 11, 2012 Greg Carpenter, chief executive of Employee Fiduciary in Mobile, Ala., which provides retirement plan services, said the Labor Department disclosures “won’t show what kind of deal you’re getting” from your retirement plan. “The cost is not fully delineated,” he said. Read Post
What Small Businesses Should Look for in a 401(k) Plan Posted Greg Carpenter on Jul 26, 2012 What Small Businesses Should Look for in a 401(k) Plan July 26, 2012 “Fees matter,” Carpenter says. “Over a long period of time even a quarter of a percent or less makes a huge difference in the value of the investment at retirement. The plan sponsor who has his or her eye of the ball needs to know this so they can make the best decisions about the employee’s money.” Read Post
4 key items to look for in new 401k disclosures Posted Greg Carpenter on Jul 5, 2012 4 key items to look for in new 401k disclosures July 5, 2012 “You’re probably going to be in this 401k for a long time, so it’s your right to continually ask questions,” says Greg Carpenter, CEO of Employee Fiduciary, a Mobile, Ala.-based adviser to companies offering 401ks. “The disclosure you get shouldn’t be the end of your employer’s commitment to you. So don’t be afraid to make noise.” Read Post
New Fee Disclosure Rules Could Shake Up 401k World Posted Greg Carpenter on Jun 24, 2012 New Fee Disclosure Rules Could Shake Up 401k World June 24, 2012 Carpenter, founder and chief executive of Employee Fiduciary, suggests that advisers keep it simple by breaking down costs into three buckets: investment fees, advisory fees and everything else that they need to run a plan. Read Post
After Years of DOL Bluster, New 401k Rules Appear to Make RIAs’ Low Expenses Look Higher than Those of Brokers Posted Greg Carpenter on Jun 18, 2012 After Years of DOL Bluster, New 401k Rules Appear to Make RIAs’ Low Expenses Look Higher than Those of Brokers June 18, 2012 “These rules are kind of like our Articles of Confederation — which came before the Constitution. They stunk, but this isn’t the Constitution. This is the Articles of Confederation. I think they’ll come back, and we’ll get something better. The people who are engaged ... Read Post
Finally, A Decent 401k for Small Business Posted Greg Carpenter on Nov 1, 2011 Finally, A Decent 401k for Small Business  November 1, 2011 Then, several months ago, I discovered Employee Fiduciary Corp. This 401(k) administrator offers only Vanguard funds (which invariably have among the lowest operating costs in their category), and its administrative fees are rock bottom. Record keeping and administrative fees were only $1,500 annually for plans with under $1 million ... Read Post
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