As one of the Top 300 Most Influential1 firms in the Southeastern United States, we provide focused, full-service consulting services to employers looking for efficient, effective solutions for their retirement, health and welfare, and supplemental benefit plans.
Plan Sponsor Support
Since proactive service is second nature to us, you can expect superior plan support and personal attention throughout our relationship. For this reason, we have purposely designed and organized plan sponsor support services around your needs and preferences to give you a rich mix of resources and customized solutions.
Each year, we will guide the Investment Committee through an in-depth plan review process. Core components include:
- Total plan design review and analysis
- Complete fiduciary compliance documentation
- Fee disclosures and participant notices
- 57-point compliance checklist
- Participant behavior review
- Total cost analysis
Investment Due Diligence
The demand for plan return has never been greater, and the fiduciary responsibility of plan sponsors has never been more intense. When you work with Grinkmeyer Leonard Financial, you gain the benefit of our comprehensive investment due diligence process. From establishing a meaningful Investment Policy Statement, to the ongoing selection and monitoring of investments, our process gives us the ability to deliver plan recommendations that are informed and impartial. Your Investment Committee meetings will run smoothly. You’ll know where you stand on returns, fees, and competitive services. You’ll receive meaningful and comprehensive reports and well-documented minutes of every meeting.
The ScorecardSM System
Our investment review process is fueled by our proprietary ScorecardSM System. Simply put, we rank investments on a straightforward 0 to 10 pass/fail criteria (with 10 being the best). By utilizing more than 15 qualitative and quantitative metrics, multiple asset classes, style and peer group rankings, and risk-adjusted return characteristics, we are able to incisively and objectively analyze your investments to help produce positive plan outcomes. Highlights include:
- Investment Policy Statement
- Investment analysis and review
- Scorecard investment ranking
- Quarterly CFA®-authored market summary
- ERISA 404(a) and 404(c) guidance
- Investment fact sheets
Fiduciary Fitness Program™
In addition to taking on co-fiduciary responsibility, our Fiduciary Fitness Program™ is an independent compliance tool to measure the health of a retirement plan and the ability of the plan’s fiduciaries to operate in accordance with ERISA and the plan document. Our program provides resources as a means to identifying potential weaknesses in your plan and remedy through education, diligence, and process.
This annual program helps fiduciaries and plan sponsors:
- Identify plan fiduciaries and their specific responsibilities
- Understand the extent of their responsibilities
- Attempt to comply with ERISA 404(a) and 404(c)
- Document the hiring process for service providers and other vendors
- Identify parties in interest to the plan and take steps to monitor transactions with them
- Understand major exemptions under ERISA that permit transactions with parties in interest, especially those key for plan operations
- Review plan documents in light of current plan operations and make necessary updates
- Comply with reporting and disclosure requirements
- Ensure that individuals are properly bonded and covered by liability insurance
Employee Education and Advice
At Grinkmeyer Leonard Financial, we are passionate about improving the overall financial health of your employees, making sure that they're prepared for retirement, and increasing employee satisfaction by giving them the tools and resources they need. We take a very unique approach to educating and advising your employees by customizing a written Employee Education Plan for each of our clients and updating it each year. Services include:
- One-on-one employee sessions, group educational events, online webinars, and more
- Investment advice and asset allocation guidance for each participant
- Strategies to improve initial and ongoing participation in the plan
- Education regarding the importance of a meaningful deferral rate
- Financial resources, calculators, worksheets, and tools
- Monthly employee newsletters
- Gap analysis capabilities
- Sample employee memos
Health and Welfare Services
We recognize the difficulties in managing multiple service provider relationships and offer solutions for simplifying oversight and operational complexities across all types of plans. Through core partners, we are able to assist employers in developing a cost-efficient and benefit-rich plan that meets the needs of their employees.
Maximize Plan Effectiveness
After developing an understanding of your corporate culture, employee demographics, previous carrier experiences, and employee communication strategies, we will help:
- Develop and review requests for proposal (RFPs)
- Negotiate rates with current and prospective carriers
- Evaluate funding arrangements
- Review claim statistics
- Compare your company’s benefit offerings to industry standards
Focus on Compliance
The world of employee benefits was complex prior to the introduction of the Affordable Care Act (ACA). Now more than ever, it is important that you partner with a firm that has a deep, meaningful understanding of the regulations and requirements you face. We can help make sure that you are in compliance by helping evaluate your options for:
- Pay versus play
- Health insurance exchanges
- Privacy officer protocol
- Medicare Part D disclosures
- Form 5500 filings
Health and Welfare Employee Communication
It is our belief that health care premiums and costs can significantly erode the ability for an employee to save for retirement. Since health care is typically more expensive in later stages of life and retirement savings can be more critical in early stages of life, we are able to provide education regarding the importance of a meaningful retirement deferral rate, the impact of health care premiums on their ability to save for retirement, and sensible benefit solutions for their situation. We can also help design employee communication materials, produce employee presentations, conduct health fairs, and offer on-site and ongoing employee support.
Rely on our unbiased outlook and breadth of retirement plan industry knowledge to help you make informed decisions, fulfill your fiduciary obligations, and ensure that your participants are on track for retirement. Our independence means that our interests are aligned with yours. We realize you have a choice when it comes to retirement plan providers, and we offer you freedom from proprietary vendor or product pressures and any conflicts of interest. Whether we work with you on a specific project or on an ongoing basis, the benefits of objectivity apply to your bottom line as well. Our fee structure is fully transparent and independent of the specific recommendations we make to you.
Contractual Sharing of Fiduciary Role
Because qualified retirement plans are falling under increasingly intense scrutiny from regulatory bodies and employees, it’s especially important that you have the right partner to help ensure that you understand and can manage the full scope of your fiduciary responsibilities, as well as the potential for liability. At Grinkmeyer Leonard Financial, we can contractually share in your fiduciary responsibility. We have the specialized knowledge and experience to help you maximize your protection against risks and liabilities and keep your company’s retirement plan on course.
We believe wholeheartedly that you will only achieve measurable results by taking a proactive approach to managing your retirement plan. As a full-service boutique firm, we are dedicated to customized service solutions specific to each client’s unique goals and objectives. Our hands-on service model begins at the plan sponsor level and incorporates streamlined processes and procedures for relieving administrative burden, maximizing plan efficiency, protecting against loss, utilizing a reasonable fee structure, enhancing investment options, and, ultimately, helping ensure that your participants are prepared for retirement.
At Grinkmeyer Leonard Financial, we feel that knowledge is power. For that reason, our advisors hold some of the most well-respected industry designations such as the Accredited Investment Fiduciary® (AIF®), the Qualified 401(k) Administrator (QKA), and the Chartered Retirement Planning CounselorSM (CRPC®) designations. Furthermore, we are continually challenging ourselves to improve upon our industry knowledge and expertise.
1Trent Grinkmeyer was recognized twice as “One of the Top 300 Most Influential Advisors in Defined Contribution”; December 2010, December 2011; prominent industry influencers 401kwire.com, 401k Exchange, Inc., and The Boston Research Group sponsor the national ranking, which is based on more than 120,000 votes cast by industry insiders.