FAQs
- What services does the NCPI Retirement Group offer?
- We offer comprehensive investment advisory services for your 401(k) program. We'll analyze your plan for weaknesses and opportunities, help you identify your responsibilities under ERISA, and provide certain fiduciary services for your plan. As an independent investment advisor, we'll offer guidance on specific investments, outline potential ways to reduce your costs, and also monitor your plan year-round.
- What makes your services different from my Third Party Administrators?
- Your third party plan administrator or record keeper is not generally a plan fiduciary. They may also be affiliated with a fund company or receive fees from products that they recommend. NCPI is an independent investment advisor that works with you to reduce your costs and guide you in ways to optimize your investment returns. We are not affiliated with a fund manager and do not offer proprietary investment products.
- Why would I need two companies to manage my 401(k) plan?
- The services we offer are distinctly different from the services you receive from a third party plan administrator or recordkeeper. Our goal is to provide fiduciary services and independent investment guidance designed to enhance your 401(k) plan. Your third party administrator typically oversees the management and daily operations of your plan only, along with the bookkeeping aspects.
- Can other companies serve as fiduciaries?
- Your third party plan administrator and bookkeeper are generally not fiduciaries. A fiduciary should always provide proof of this protection in writing to you. Because NCPI is an independent advisor, we put our customers' needs first, and confirm our fiduciary services in a written agreement with our customers.
- How does NCPI get paid for its services?
- We typically get paid on a fully-disclosed fee basis. You may find that some RIAs require you to compensate them on their terms. At NCPI, we provide flexibility in our payment structure and offer you several different options.
- How can NCPI reduce the costs of running my 401(k) plan? Where specifically do these cost savings come from?
- There are many ways we can reduce your plan costs. The most common is to shift your investments to less expensive, higher performing options. We also work to reduce fees paid to your current provider through renegotiating the fee structure and/or moving to a fixed administrative cost. Many times cost savings can be realized simply by transitioning your plan from paying "invisible commissions" to a broker to advisory fees with a registered investment advisor. This is because advisors work on a fully-disclosed basis, which may reduce your fees over time.
- Can my company hire NCPI for fiduciary services only?
- We provide fiduciary services for our customers as a part of our working model . When you work with NCPI, you also receive the benefits of our plan design and analysis services. These are the tools that help us identify potential ways to reduce plan costs and maximize investment returns.