A network of support

In today’s complex world, business owners need a trusted team of advisers to guide their business strategy and defend against blind spots. And those advisers should all be on the same page. That’s why at NestEggs, we proactively collaborate with our clients’ other trusted advisers. This willing collaboration provides synergy and continuity of strategy. Don’t go it alone, let NestEggs help!

Certified Public Accountants (CPA)

A Qualified Retirement Plan can be a vehicle for business owners to reduce their annual income tax burden. In our custom proposal process, NestEggs can show you multiple plan-design scenarios and the resulting tax savings / tax efficiency if any exists. A Qualified Retirement Plan can and should evolve each year with your business. But yet the market believes in a “set it (generically) and forget it” approach.  With that in mind, NestEggs typically reviews our clients’ plans at least twice annually alongside their CPAs to aide in the broader tax strategy for that owner. For that reason, we have established a reputation among prominent CPA firms up and down the eastern seaboard who view us as an integral part of their team. In fact, we’re proud to say NestEggs receives more referrals from CPA firms than any other referral sources, due to our consultative, tax-conscious, fiduciary approach. If you don’t believe us when we say that we’re different when it comes to designing Qualified Retirement Plans, have your CPA engage in the process during your due diligence with us and then you can take THEIR word for it!

Registered Investment Advisers (RIA)

Registered Investment Advisers often focus their practice on managing the money of individuals and opt to not manage the money within Qualified Retirement Plans. NestEggs is the opposite. We only manage Qualified Plan Assets. So a very natural synergy has evolved between NestEggs and numerous Independent Advisers who want authority over their clients’ Qualified Plan assets but lack the ability or desire to manage so many singular plan participants and the accompanying challenges of qualified plans. In these scenarios, we do all of the heavy lifting for the adviser—designing the plan, record keeping, enrollment/education for plan participants, ALL administration/communication—and then simply have the partnering Adviser manage the fund menu while we serve as an ERISA §3(21) fiduciary. This enables the Adviser to deploy the money management strategies they use in the business owner’s personal account into the business owner’s Qualified Retirement Plan. This gives business owners the peace-of-mind that the same person is strategizing on the investment of ALL of their assets.

Trust & Estate Attorneys

The consequences of an improperly designed estate plan can easily include substantial loss of tax-deferral and loss of benefits from a qualified retirement plan to the remaining family member or other beneficiaries. The estate planning community, including attorneys, CPAs, and financial advisers, need to work closely together to create solutions that meet the client’s goals and needs. With proper planning, qualified retirement plan assets can be worth many times more than their original value to the beneficiaries. Without proper planning, the beneficiaries may receive only a fraction of the original value of these accounts. [1]

NestEggs is proud to work alongside numerous Trust and Estate Attorneys for the benefit and maximization of our mutual clients. We are consultants with a nuanced understanding of complex Qualified Retirement Plans like Cash Balance Pension Plans and Employee Stock Ownership Plans that are often utilized in the Estate Planning process. As a business owner, you cannot afford to have your company’s retirement plan with a company that doesn’t provide NestEggs’ level of technical expertise and collaboration.

[1] https://www.estateplanning.com/qualified-retirement-accounts/

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Outside Advisers FAQs

WHAT PROMPTED YOU TO DEVELOP THIS 401(k) TURNKEY SOLUTION FOR ADVISERS?
Private Wealth Management is a competitive space. Over the past decade, as NestEggs reputation as truly differentiated specialists in the 401(k)/pension space developed, we were approached by Wealth Advisers who can’t or won’t manage 401(k)/pension assets because they wanted to close the backdoor to competitors who can and will. The reality is that Wealth Advisers ALL have clients who own businesses and who offer 401(k)/pension plans but the burden of having to support so many individual employees can make the opportunity unprofitable and unviable. NestEggs offers a co-advisory relationship and an open architecture platform for advisers to create their own fund line up and model portfolios.
WHAT ARE THE MAIN SERVICES YOU PROVIDE TO ADVISERS?
We do everything in-house. We provide Record keeping, Third Party Administration, and Investment Advising for defined contribution and defined benefit plans. Generally, the outside Adviser designs model portfolios and meets with their client to discuss 401(k)/pension plan performance. NestEggs is responsible for providing dashboard access, enrollment, education, re-education, and daily calls from plan participants. We can be as hands-on or as hands-off on the investment front depending on the preference of the partnering adviser. As an RIA our partners are generally comfortable with us owning all of the aforementioned support functions related to company retirement plans. We are a great solution for advisers that have access to 401(k) opportunities but lack the capacity to support so many employees of lower financial acumen. Since we do not manage personal assets you can trust us to support your clients with the same professionalism and care as you would provide on the individual side. We understand it is your relationship with the business and their employees.
WHAT ARE THE SERVICES YOU PROVIDE TO THE PLAN SPONSOR?
We take a white-glove service approach in an industry known for “call center” support. We do anything we can to make the job of our plan sponsors and trustees easier. As such, we accept §3(38) and §3(16) fiduciary liability. By providing §3(16) services, we can even go the extra mile for our clients by signing off on distributions, loans and other plan documents. We are big time hand-holders as we should be. This is our area of expertise.
WHAT IS THE ROLE OF THE ADVISER?
That is up to the adviser. We can customize any potential solution based on the needs/wants of the adviser. Some advisers don’t want to be involved with anything while others prefer to have some involvement with enrollment or the yearend plan review.
WHO ARE THE BEST CANDIDATES FOR YOUR PLATFORM?
Service-conscious advisers that have access to 401(k) business but for whatever reason are not targeting it.
HOW DO YOU COMPARE WITH OTHER INDUSTRY PROVIDERS/SOLUTIONS THAT ADVISERS/REPS MIGHT HAVE USED IN THE PAST?
We take a consultative approach in a commoditized industry. Each Plan Sponsor has a dedicated Plan Contact, not a call center. We are TRULY boutique! Our nuanced plan design capabilities help increase owner’s personal balances that then grow unconstrained and can be rolled-over at retirement for further management by advisers.
DESCRIBE YOUR EXPERIENCE AND THE ADVISER RESPONSE SO FAR?
Advisers want to provide solutions they are proud to stand behind. The inability to do so has kept many out of the 401(k) space. We provide access to this value-added offering and continue to make you look good. We are a partner not a service provider.
WOULD AN ADDITIONAL LAYER OF COSTS MAKE THE ADVISER UNCOMPETITIVE OR THE PLAN COSTS TOO HIGH?
We don’t think there is an additional layer. Record Keepers and Third Party Administrators are needed to operate a plan regardless so the fact that we are an RIA and can handle the investment component too only reduces your obligation to support the plan and the day-to-day. In a partnership relationship, the all-in plan fees can be competitive. This is because we are willing to lower our already low asset-based fee in the co-advising relationship. As fiduciaries we go to great lengths to ensure plan fees would be deemed reasonable.
WHAT TYPE OF INVESTMENT OPTIONS DO YOU PROVIDE ADVISERS/PLAN SPONSORS? WHY?
The adviser can control any aspect of their client’s plan investments if they want to. If they leave it up to us, we provide a wide variety of funds consisting mostly of DFA and Vanguard. We have our own model portfolios, target date funds and representation across dozens of assets classes for those wishing to truly choose their own investments.