How Your CPFA’s Fees are Determined and Whether You’re Getting a Fair Deal
Your CPFA can offer so much value not only as an advisor on your employee retirement plan but also as an advisor to you as a plan fiduciary.
They can evaluate the plan performance, measure it against similar plans offered by your competitors, and eliminate any underperforming funds or excessive plan fees. Your CPFA can ensure that you are not only fulfilling your duties as a fiduciary on the plan but also save you from personal liability or violating ERISA guidelines.
Fees for a CFPA will vary depending on your plan needs. On average, fees a CPFA will charge should range between .2-.5% of the current assets allocated in your plan annually. A CPFA will never formally quote their expenses to their clients since it will depend upon the assets in your employee retirement plan and your specific needs.
While this may seem like a steep expense depending on the total asset value in your current plan, it is significantly cheaper to hire a competent CPFA who will help you avoid losses from underperforming mutual funds or penalties for violating ERISA guidelines.
If you are a fiduciary for your employee retirement plan and you’re concerned with issues of plan performance, excessive fees, lackluster service from your plan provider, or compliance with ERISA guidelines, I can help. I specialize in evaluating employee retirement plans, eliminating underperforming funds or unnecessary expenses, and ensuring plan fiduciaries comply with ERISA guidelines. Contact me today if you’re ready to get the most value from your company’s retirement plan and protect yourself from personal liability as a fiduciary.
If you are a fiduciary for your company’s employee retirement plan and are concerned about your current investment options, I can help. My specialty is reviewing and adding 99% value to employee retirement plans. Contact me today if you’re ready to get the most value from your company’s retirement plan and protect yourself from personal liability as a fiduciary.