depends on the type of plan you choose. You can make anywhere from .25 bps to 1%. And the upfront finders fee on assets should be about 1%



The plans take a long time to set up so it would take awhile to make a living at it.



I have several and I plan on putting more of a focus on them.



No way an you make a living doing small plans unless you were getting 1%.



Going forward basically I’m going to be looking for plans 2.5 mill or higher and I’d stay clear of plans that have a ton of employees if they didnt have a high plan balance. I just politely turned down a plan because it was 1.5 mill but had 120 employees of which I know most are low paid



But again and I cant stress this enough these plans dont just happen overnight and arent easy to land.



You need to pick 2-3 outside plan providers fidelity.hartford etc and if you can align yourself with a payroll provide like adp or paychex and go from there. You want a rep from the company going on the appointment with you to answer any and all questions about the plan itself that you will have no idea to answer.



Even now I have no clue as to some of the questions that are asked but the company rep ( whose sole job is to close plans ) should be able to answer anything.



Basically you want to position yourself as the quarterback whose job is to make sure the proper people are in place and your job is providing guidance on investments and hopefully get higher net worth employees/owners as clients

I’d even be curious to hear from the individuals / firms that operate as an RIA only and are setting up 401k plans.

What type of setup do you have and what are the average fee’s you’re charging?