Individual or group plan? IRA or 401(k)? The Recordkeeper, TPA, Custodian, Fiduciary, Advisor and Social(k) all look to receive compensation from your plan. There are many decisions along the way that guide what a plan looks like and what it will cost. With a variety of service providers available to Social(k) plan sponsors we believe we can build a team that will run the company plan in such a way you are free to concentrate on your core business. If by chance the original team is not a fit we can work with our other providers to replace the part that was not appropriate for any reason.
Accounts for individuals, with trading costs included for a year run about $300. With Folio Investor as our custodian for these accounts investors can use over 200 Ready-To-Go Folios with not cost to purchase these investments. They also offer No Load mutual funds as well for low cost investing. Without trading costs the accounts run $25 annually. Each investment may have internal expenses that should be reviewed.
Accounts for group plans run much more because of the different services needed. Our Pricing page has the breakdown by provider.
Recordkeeping - Keeping track of account values, run website, oversee deposits to trust bank from employer account.
Third Party Administrator, TPA - Maintaining the Plan Document, running participation tests and filing annual report, the 5500.
Custodian / Trust Bank - Holding the account, offering investments, and trading.
Bonding – Persons handling plan funds or other plan property generally must be covered by a fidelity bond to protect the plan against loss resulting from fraud and dishonesty by those covered by the bond.
Fiduciary - Optional level of protection for organizations with or without advisors helping with those responsibilities. Oversees investment process and plan administrative management.
Impact Reporting - Deep look into the sustainability practices of the companies held in the plan.
Social(k) - Due diligence on providers. Assistance to advisors and organizations looking to add a retirement plan that supports your organization. Aggregation of ESG asset classes not readily available on other platforms.
Please note that Social(k), your service providers and your appointed investment advisory firm are separate and distinct covered service providers for your plan. We believe that separation of service and ultimate fee transparency empowers your retirement plan with the ability to understand your fees and monitor your service providers.