401(k) Plan Services

Your Retirement Plan Fiduciary

Offering a retirement plan can be one of the most challenging, yet rewarding, decisions an employer can make. However, the vast majority of employers are dangerously unaware of their responsibilities and the liability associated with serving as their company’s 401(k) plan sponsor. Many company executives believe incorrectly that their 401(k) service provider, the broker, is the plan sponsor and that all associated responsibilities reside with them. Nothing could be further from the truth.

Retirement plan fiduciaries have important responsibilities and are subject to standards of conduct because they act on behalf of participants in a retirement plan and their beneficiaries. These responsibilities include:

  • Acting solely in the interest of plan participants and with the exclusive purpose of providing benefits to them;
  • Carrying out their duties prudently;
  • Following the plan documents;
  • Diversifying plan investments; and
  • Paying only reasonable plan expenses.

While these duties seem pretty straightforward, there are certain instances where a plan sponsor is unaware that their action or inaction puts them at risk to liability from either plan participants or governmental agencies such as the Department of Labor (DOL) and the Internal Revenue Service (IRS). For plan trustees, that liability may be personal liability.

As a 401(k) plan sponsor, get the FACTS about your responsibilities.

Taking Responsibility for Your 401(k) Plan

Triton’s business model in the retirement planning space (such as 401K’s and 403b’s) is unique as we offer a participant-centric plan. We focus on providing personal and dedicated customer service to all participants in the plan, while offering a greater range of investment options often at a lower cost than the larger brokerage firms.

Our ideal client is one who is looking out for their employees and truly values them and their financial future, and appreciates the benefits of personalized advice. We want to work with those who view their employees as the most important part of their business.

The Triton 401(k) Plan Service is a program that:

  • Provides expert, conflict-free advice to plan sponsors and their participants,
  • Access to some of the top performing mutual funds and Exchange Traded Funds (ETF)
  • Proprietary investment models
  • Complete fee transparency and
  • Total plan costs that are much lower than many of the programs offered by the large financial services providers.

When you engage with Triton Financial, our 401(k) plan service provides plan sponsors with:

  • Fee-based, independent Registered Investment Advisors who serve as an Employee Retirement Income Securities Act (ERISA) 3(38) named fiduciary investment manager, taking responsibility and liability for investment selection and performance monitoring and alleviating the plan sponsor of this responsibility;
  • Full transparency for all plan costs because we have no hidden fees or fee-sharing arrangements between providers;
  • Independent, unconflicted, one-on-one advice to plan participants;
  • Access to institutional investment vehicles that are not available on retail 401(k) platforms and normally require a minimum investment of $2 million per fund;
  • Advisor Managed Portfolios that give participants the ability to turn the management of their 401(k) assets over to an expert advisor;
  • A comprehensive fund menu that is created by an independent advisor using a Proprietary Fund Screening Process;
  • Independent providers who are free from the conflicts of interest that plague traditional 401(k) plans;
  • A plan manager who monitors the investment options and models and makes any changes the investment manager deems necessary;
  • Overview and documentation, at least annually, regarding the selection of the investment options offered to plan participants and management of the models so that plan sponsor may fulfill its fiduciary responsibility (and therefore its legal liability) regarding the sponsor’s engagement of the manager and continued engagement of the manager.

How do we work?

We start with a “deep dive”, analyzing the current plan’s offerings and shortcomings using a comprehensive and holistic approach. As comprehensive financial planners by trade, this method is at the core of our business model. During our review of the existing plan, we’ll carefully explain to the employer what is currently working, and what needs improvement. This initial meeting is always at no cost or obligation. Our goal is to educate the employer on the plan that works best for the employees and company as a whole.

Should you decide to implement our services, we will personally meet all of the employees and educate them on how the plan may suit their needs. We make ourselves available for on-site visits, as well as through phone calls and emails. Your employees will greatly appreciate the level of service we provide.

Best of all, we serve all participants in the retirement plan in a fiduciary manner. This means we act solely in the interest of the company and plan participants, with the exclusive purpose of providing maximum benefit to them. If you’d like to learn more, please see the 401(K) Plan Services section of our website.

If you are a Plan Sponsor with 401(k) plan assets between $1 million and $75 million, contact Triton Financial to discuss a complimentary 401k Plan Diagnostic Review. Call (508) 480.8383 or via email using the form on our contact page.

Financial Focus

Bob Gustafson, RKG Financial

Listen to Bob live on his weekly radio show every Wednesday at 10:00 a.m. on WCRN AM 830.

Or listen to excerpts from the show via the Financial Focus blog.

Connect with Bob Gustafson via LinkedIn or Facebook:


Follow us on Facebook

Follow us on LinkedIn

Triton Financial LinkedIn Company Page