401(k) Management Services

Betterment for Business is a 401(k) management company that helps small businesses offer their employees a quality retirement plan. They combine human advisors and technology to help companies design their plans, provide investment advisory services, and administer them.

A KMS should have comprehensive insights to improve its performance and serve users effectively. Providing relevant information to users results in happy customers/employees, reduced support tickets, and streamlined work processes.

Betterment for Business

Betterment is a popular robo-advisor that helps people save for retirement. Its services include a personalized investment portfolio, financial planning, and automated deposits. It also offers a mobile app and a variety of educational materials to help users make the most of their accounts. Betterment is also dedicated to providing top-notch customer service and will do everything it can to resolve any issues.

The company’s 401(k) business has seen rapid growth in recent years, as states are working to expand auto enrollment for individual retirement savings accounts. This expansion will increase the number of employees who are able to take advantage of these accounts. Betterment for Business will handle the onboarding and administration process, and will offer fiduciary protection to plan sponsors.

It will offer a customizable, low-cost retirement plan and personalized advice for employees. The service is available through its online platform or through a phone call with an advisor. Pricing varies based on the number of participants, monetary assets deployed, and add-on features. Betterment for Business also provides a white-labeled version of its SaaS application to financial advisors.

Fidelity

Fidelity offers many services and products for clients. Some of these services include device operation, procurement of replacement parts and equipment, range control, berm up keep, road maintenance and janitorial services for live-fire training devices and range complexes. The company also provides technical resources for modification, configuration control and life cycle support of the training devices and equipment.

In the Investor’s Business Daily 2022 Online Broker Survey, Fidelity was ranked first in trade execution speed, site security, and customer service. It also earned top marks for investment choices, mobile app, tools, research and advisory options. Customers can get personalized attention at over 200 branches and by phone or chat. They can also take advantage of the Portfolio Advisory Services team for nondiscretionary financial planning and asset management. The company also offers low-cost funds and a full suite of tools for new investors. Customers can create and customize a screener based on their investing preferences. It can be used to find stocks, mutual funds and ETFs. It can also be used to screen for thematic research or for environmental, social and governance (ESG) and sustainable investments.

ADP

ADP is a large human resources management services company headquartered in Roseland, New Jersey. It offers a variety of software platforms, human resources, payroll, and taxation services to businesses of all sizes. The company also provides a range of support services for administrators and employees. These include a self-help website, phone assistance, and an extensive library of online resources.

The ADP website features valuable self-help support for both administrators and employees, including a wealth of information on all aspects of payroll. It also includes separate collections of guides for small and midsize businesses, plus calculators and downloadable forms. The company’s website also hosts several monthly webinars and makes them available in a digital catalog, which is searchable by role, certification, business size, and topic.

In addition to its main products, ADP offers a suite of specialty products, such as Global Cash Card, a digital payments facilitator. It also acquired Kerridge Computer Co. Ltd, which provided dealer management systems to auto dealers in the UK.

Pontera

Pontera is a fintech firm that helps financial advisors manage retirement accounts for their clients. Formerly known as FeeX, the New York-based company allows advisors to seamlessly trade and rebalance held away accounts as part of a holistic portfolio. The firm’s platform is bank-level encrypted and SOC 2 Type II certified, minimizing security risks and ERISA compliance concerns.

RIA firms have long faced the challenge of managing their clients’ 401(k) and 403(b) accounts, a process that requires substantial investments in security and compliance. Moreover, some of these accounts are subject to constructive custody rules and must be reported under Form ADV. Pontera addresses these issues and enables advisors to efficiently provide in-plan advice without the need for custodian supervision.

The collaboration will allow Summit advisors to access and manage their clients’ retirement savings accounts in the same way as they manage their other assets. Studies show that professionally managed retirement accounts yield 3-4% higher returns than self-managed accounts.

Pursue more information