ML&R Wealth Management LLC

 Independent Founding Member Bright Sky Group
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CONSULTING SERVICES

401k egg

Our Targeted Approach

In addition to our full-service approach, ML&R Wealth Management also offers consulting services for plans that may need targeted assistance in particular areas of their plan operation.

Request for Proposal (RFP) Management

We help plan sponsors analyze their existing service package and, if needed, conduct a RFP. We help employers understand the retirement plan marketplace and what services are appropriate for their plan needs. Our services include:

  • Benchmarking your plan statistics vs. market
  • Evaluation of current services and unmet needs
  • Development of RFP
  • Review of RFP responses
  • Assistance in finalist determination and finalist presentations
  • Recommendations regarding vendor selection
  • Fee negotiation and service agreement assistance

Revenue Sharing & Expense Analysis

For plan fiduciaries, it is vital to understand the true costs of their retirement plan. We help plan sponsors manage their fiduciary duties by:

  • Researching and disclosing soft-dollar subsidies
  • Calculating investment expenses for existing investment choices
  • Determining total plan fees, including commissions and other fees
  • Benchmarking all fees to the market for comparable plans
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Vendor Management

For plan sponsors who want independent assistance in managing their plan, ML&R Wealth Management has the experienced consultants to help. We provide assistance to plan sponsors in the following ways:

  • Coordination of custody, trust, actuarial, advisory, administration and communication functions
  • Annual vendor quality audit
  • Annual revenue sharing audit
  • Quarterly trust performance to goal
  • Annual plan design suitability study

Fiduciary Review

With renewed attention to issues of fiduciary liability in today's retirement plan arena, plan sponsors may want to consider having an independent review of their plan operations. We can provide an unbiased report of potential exposure, areas for improvement and recommended solutions. Our fiduciary review includes examination of the following areas of plan operation:

  • Plan document
  • Plan design
  • Administration
  • Regulatory compliance
  • Vendor quality
  • Investment Policy Statement
  • Cost structure
  • Participant education and behavior
  • Portfolio construction and investment selection
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