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Should my payroll provider manage my 401(k)?

Employer Sponsored Benefit Plans are now offered through many avenues. The most important consideration in choosing a provider is the reputation of the firms involved. Retirement plans are long-term propositions. You want to make sure you are partnering with qualified experts in the field with whom you can build a long lasting relationship.

There are two key components of every plan:

Plan administration includes:

Fortunately, the use of web-based software programs has made this fairly easy and affordable. Investment of plan assets includes deciding on the investment funds available within the plan and making sure that the fund managers are doing a good job for employees.

Because of the many complexities of plans, the industry has coalesced around two major types of providers: a one size fits all approach and a team approach. Many large providers have the ability and resources to develop expertise and experience in handling all aspects of plans from start to finish. Because of their structure, these firms mainly service large companies and corporations. The other alternative is a team, usually consisting of a firm specializing in plan administration and one with expertise in investment asset management. These teams usually service smaller plans.

Each type of provider has its plusses and minuses and it is important to do a lot of homework to help make the best decision for your plan. At Geier Asset Management, we can offer you a quick evaluation the various plans available and help you choose the best solution. Contact us today to schedule a consultation.

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Who We are

Meet our dedicated and experienced team at Geier Asset Management. We handle tax planning, investment management, financial planning, and retirement plan services for clients nationwide.
Joseph N. Geier, CPA

President/Client Manager
Brian Woods

Vice President/Client Manager
Gregory Palacorolla, CFP®

Director, Wealth Management
Daniel Mules, CPA

Client Manager
Brendan Winkler, CPA

Portfolio Accountant
Deborah Kresslein

Portfolio Administrator
Julie Keller

Executive Assistant