Question for Kon Litovsky and other board experts.
Our group has our 401k/PSP with Vanguard. We pay a ?small fee for fiduciary services to a 3rd party, which basically entails them meeting with us (physician PSP committee) quarterly to ensure plan compliance and track any active funds that may at some point be candidates for replacement. They also provide advise on fund selection to any interested for this plan only, and some docs have also chosen them as their personal advisors, which is a major benefit to them as well. They presumably do a few other minor services like making sure no one is doing anything crazy in the brokerage link, etc..
I don't know if we are overpaying for this service. We are a group of about 40. What would be a ballpark flat annual fee for basic fiduciary/compliance oversight with or without advise on fund selection? Would prefer to avoid AUM fee even if very small, but if this is the customary arrangement, what is reasonable?
Thanks in advance for any advice.
Our group has our 401k/PSP with Vanguard. We pay a ?small fee for fiduciary services to a 3rd party, which basically entails them meeting with us (physician PSP committee) quarterly to ensure plan compliance and track any active funds that may at some point be candidates for replacement. They also provide advise on fund selection to any interested for this plan only, and some docs have also chosen them as their personal advisors, which is a major benefit to them as well. They presumably do a few other minor services like making sure no one is doing anything crazy in the brokerage link, etc..
I don't know if we are overpaying for this service. We are a group of about 40. What would be a ballpark flat annual fee for basic fiduciary/compliance oversight with or without advise on fund selection? Would prefer to avoid AUM fee even if very small, but if this is the customary arrangement, what is reasonable?
Thanks in advance for any advice.
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