While a good 401(k) plan can have a positive impact on a business and its individual employees, there are also some significant landmines to watch out
for when evaluating and choosing a provider. Many providers offer their own funds or insurance  annuity products within the 401(k) products they sell.
This makes it difficult  for them to take an unbiased approach in providing the best investment options for their customers. Using an independent
investment advisor that can take an objective look at all the offerings on the market and select top funds by asset category may offer some solid upside
compared to a biased fund line-up. When choosing a financial advisor look for a fiduciary. In short, this means the planner has pledged
to act in a client’s best interests at all times. Investment professionals who aren’t fiduciaries are often held to a lesser standard, the so-called sustainability
standard. That means that anything they sell you merely has to be suitable for you, not necessarily ideal or in your best interest. This point is critical,
and should be a deal breaker if a prospective planner is not a fiduciary. As an employer and sponsor of a 401(k) plan, your company has a fiduciary duty
to its participants. This means you must select the appropriate service provider(s) at a reasonable cost, determine the optimal plan design provisions,
choose and monitor investments, keep up with the new legislative changes, ensure your plan is administered properly, and educate and inform plan participants.
The goal is to administer a retirement plan that inspires employees to reach their retirement dreams, while helping you recruit and retain valuable team
members. How do you know if your company is meeting these challenges? How do you select service providers or investments – what are the criteria? How do
you know if your plan is working? Does your company have the resources to handle these responsibilities alone? How do you know that you are in compliance
with the new fee disclosure rules? Unless your company has dedicated employees with 401(k) expertise who focus solely on managing your employee retirement
plan, you should consider hiring a fiduciary retirement plan advisor who specializes in 401(k) plans and is dedicated to helping you and your employees
get the most out of their retirement plan. Mintco Financial Independent Advisors is a Registered Investment Advisory Firm which means we work exclusively
for you – not any company selling investment products.   We are fully independent in making our recommendations to you and your employees. We
accept full fiduciary status under ERISA Section 3(38) as advisor to your plan. Call us now at 813-964-7100 to review your employees 401k or visit our
website at www.MintcoFinancial.com Michael Minter, one of the managing partners of Mintco Financial and author
of I-Plan, has been givinng advice through seminars and  on TV.  He will be glad to help your  business benefits plan. http://www.youtube.com/watch?v=J61o2mpC4Zg
http://www.youtube.com/watch?v=ndM3i2NCv2E http://www.youtube.com/watch?v=6H699A7-FGk
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