Understanding the components of Retirement Plan Expenses

Wherever there is value, there is always expense.

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Understanding Fees

All investment companies have expenses for the services that they provide.  Unfortunately, most people do not know this because they haven’t been given complete and accurate value expense disclosure information.

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Recordkeeping Services

Recordkeeping expenses include two components – a fixed dollar cost and an asset-based cost.  We refer to the fixed cost component as “administration” and the asset-based cost as “recordkeeping.”

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Advisory Services

The investment makeup of most plans is reviewed and overseen by a Financial Representative or a Registered Investment Advisor (RIA). Envoy Advisory, Inc. is your retirement plan’s RIA.

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TPA/Compliance Services

All 403(b) and 401(k) retirement plans have compliance costs. The services delivered are typically provided by a Third Party Administrator 

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Professionally Managed Accounts

When a Participant elects to use a Professionally Managed Account, they authorize a third party institutional money manager to take discretionary authority over their account.

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Mutual Fund Investments

These expenses are for services that include selection and management of the mutual fund’s underlying holdings, shareholder transaction costs and marketing and distribution expenses.

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