PCS Clients Nationwide
Acting in the best interests of your employees or plan participants ought to be an easy standard to meet — after all it’s the right thing to do. Yet, 15 years ago when we founded PCS, 401(k) and other defined contribution plans were often restricted to one or just a few investment providers, fees were unclear (and often were purposefully disguised) and most platforms contained incentives to reward brokers for product sales rather than participant success.
In 2001, we launched our “no funds to push or hidden agenda” unlimited funds list, building it to a diverse menu of over 21,600 funds to choose from, spanning a list of over 160 fund families.
We go further than just eliminating conflicts and commissions. If a fund does pay revenue, we recapture it and offset it dollar-for-dollar against fees or rebate it to participant accounts.
*Based on research from the White House Council of Economic Advisers in February 2015 stating that investment advice benefits brokers’ firms rather than investors, causes investors to lose 1% on their returns annually – costing investors in the U.S. a total of $17 billion each year.
In partnership with The Advisor Lab, we built the only benchmarking report designed to assist independent advisors in transitioning commission laden plans to the fee-only fiduciary friendly model and regularly train select Advisors on best practices in fiduciary support, and of course how to assist Plan Sponsors and Participants in meeting their goals.
We may not have been the first to support investment managers accepting delegation of fiduciary responsibility under ERISA Section 3(38), but if there was someone else they were pretty darn quiet about it. We provide a complete suite of tools to support investment advisors acting as fiduciaries, including:
We didn’t need to be told or required to disclose fees. We’ve done it since our inception because it was the right thing to do.
We’ve revolutionized the industry by offering the complete suite of retirement tools that are “built in” – customizable and catered to the specific needs of the Plan. For instance, our on demand Annual Plan Review is a state-of-the-art report that helps Plan Sponsors meet their fiduciary responsibilities by offering a 360° view of a retirement plan and its performance, comparing it against similar plans and identifying opportunities for improvement.
PCS Clients Nationwide