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FINANCIAL SERVICES

ADMIN AT THE NTSA VIRTUAL SUMMIT

The National Tax-Deferred Savings Association (NTSA) recently hosted their annual Summit via a virtual series of workshops on 403(b) and 457(b) retirement plan education. Our very own CEO, Mark Heisler, was the host of a workshop examining on one of the most frequently asked questions by Financial Advisors…

Which ERISA retirement plan is best suited for a 501(c)(3) organization: a 403(b) or a 401(k)?

During the session, Mark discussed the similarities and the differences between the two plan designs when working with a 501(c)(3) organization that is looking to establish a retirement plan for their employees. He paid particular attention to the different rules associated with non-discrimination testing, post severance employer contributions, and the excise tax correction for late deferrals. In the final analysis, the decision to recommend one plan design over the other comes down to the facts and circumstances of the organization. It is a matter of knowing the right questions to ask employers about the organization to arrive at a sound recommendation.

Interested in learning more about the difference between 403(b) and 401(k) plan designs?

Contact our team today and learn more about what plan design is right for your organization!

3 QUESTION THURSDAY: WES IFAN

As part of our commitment to providing continuous retirement planning education, ADMIN Partners is adding a new series to our blog: 3 Questions Thursday! This series will be an opportunity for ADMIN to introduce you to leading Financial Advisors working in the retirement space. Each month a new Advisor will join us in answering 3 questions that can help Plan Sponsors and Participants better understand how to benefit from their retirement plan(s).

Today we are showcasing Wes Ifan with Kobo Wealth Strategies. ADMIN’s sales team was introduced to Wes a few years back and have since built a great rapport with the emerging advisor. He is the CEO and Senior Financial Advisor of Kobo Wealth Strategies and has over 15 years of experience in financial planning. We were especially excited to feature Wes due to his expertise in the church/religious organization retirement planning space. As you may recall from our ADMIN Education series (here), the unique plan design for churches and religious organizations requires a proficiency that supports Plan Sponsors and their Participants. In today’s 3 Questions Thursday, Wes shares what brought him to this sector of retirement planning and advise on saving for your future during these uncertain times.

As we enter a new year, 2021 is filled with such uncertainty.  In your opinion, what are some ways that financial advisors can stay relevant during such times? 

“The best ways financial advisors can stay relevant are to remain active in social media by posting content that connects with their followers both written, graphic, and video.  Also, education is a great way to engage the public in your areas of expertise and position yourself as an expert in the marketplace.”

ADMIN Partners has had the pleasure in doing business with you over the past few years, particularly in Church retirement plans.  What would you say drives this passion? 

“As someone who grew up in church my whole life, I understand the difficulties that churches and particularly pastors have with finances.  I wanted to make sure that part of my practice focused on helping pastors and church staff to have access to the advice they need and the resources to be successful financially.  The partnership with Admin Partners helps me do it in a professional and cost-effective way.”

How would you advise plan sponsors to encourage employees to save for retirement during such financially challenging times?

“The key is not to stop saving.  Even if you have to reduce your contributions, the key is to keep saving.  I know that can be challenging during these times.  Plan sponsors should work with the advisors to promote education and financial literacy.  Especially now with everyone used to Zoom and other video platforms, you can provide 30 minute quarterly education for the employees which I think helps.”

To learn more about Wes and his work in financial planning, visit the Kobo Wealth Strategies website. You can also connect with Wes online via his Instagram and LinkedIn.

Kobo Wealth Strategies is a branch office of Securities America. Securities offered through Securities America, Inc Member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Kobo Wealth Strategies and Securities America are separate entities. 

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2020 CLIENT REVIEWS

2020 had it’s hardships and while ADMIN Partners was not exempt from the impact of the challenging year, overall we had a successful year. Not only did ADMIN welcome a number of new clients, but we reconnected with our existing clients during these uncertain times.

Throughout the year, we asked our clients and advisor partners to share their feedback on ADMIN’s teams and the services we provide. This allows us to see where we are doing well and where we can improve when it comes to supporting retirement plans.

Here is some of the feedback we got over the past year:

We are so grateful to all of our clients and partners for their feedback and continuous support. We look forward to diving into 2021 with you by our side!

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A LOOK INSIDE THE ADMIN SOLUTION

ADMIN’s CEO, Mark Heisler, was recently invited to partake in a video case study for one of our clients, the Anglican Church of North America (ACNA). The video was created to detail some of the challenges ACNA faced with their multi-location retirement plan.

The organization was operating two separate retirement plans with two recordkeepers and with little operational conformity. ACNA, with this assistance of its retirement plan consultant, Cammack Retirement Group, ultimately choose an all-in-solution, working with a single record keeper, MassMutual and ADMIN Partners, as the plan’s third-party administrator. 

As a leading full-service TPA in the tax-exempt and government space, we pride ourselves in providing custom plan administrative support to all our clients. As the ACNA plan continues to grow by adding new Church locations, ADMIN’s service team is right alongside to ensure a great experience. You can learn more about our efforts with ACNA in the full video provided below.

Should you have any questions surrounding the health of your company’s retirement plan, contact one of our team members today! You can reach us via email at Contact@youradminpartners.com or by phone at 877-484-4400. We can’t wait to hear from you!