DC Plans

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Mar 9, 2010 10:11 am

Is anyone here advising in a substantial way in the DC plan space?  In my current incarnation I have a ton of demand for 401ks with some top hat/new comparability PS mixed in.  The prototypical client would be a medical practice with 1 or 2 principals, 3 associate MDs, maybe twice that in PAs and 40-60 employees.  Also some attorney practices with a similar setup.  My former life as a RR of a captive BD did not lend to this business.  I know SEPS and SIMPLES and maybe set up one owner K.  We were actually discouraged from even trying our hand in this arena.    I am actually considering starting up the QPFC study.  Any thoughts from the independent viewpoint would be greatly appreciated.

Mar 9, 2010 2:12 pm

With those contacts with MD's, have you considered going the Defined Benefit route? That way you focus on several individual practitioners, high income and net worth, and not have to deal with the hassle of 40 lower income employees. Also, how did you develope those relationships?

Mar 9, 2010 2:31 pm

[quote=navet]

With those contacts with MD's, have you considered going the Defined Benefit route? That way you focus on several individual practitioners, high income and net worth, and not have to deal with the hassle of 40 lower income employees. Also, how did you develope those relationships?

[/quote]

I formed an RIA in conjunction with a regional CPA firm that has been around for about 60 years.  DB's are not very well favored from what I can see.  The new comparability plan layered on top of the 401k can serve as the piece for the extra $$ the HCE's are wanting to put in.