Author Topic: 401k comedy  (Read 12512 times)

Kronsey

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Re: 401k comedy
« Reply #50 on: February 22, 2019, 05:17:15 PM »
@Kronsey How many employees is too many for Guideline in your opinion?

@catorbe - Sorry, just seeing this. Been busy with taxes and haven't been on the forums much in the last few months.

Most of my clients that I have helped convert to Guideline have had 20 or under employees. Some of those plans had sizable balances, but not a large number of employees.

I have a rep from Guideline that I chat with on occasion, and he said they regularly do plans for businesses with around 100 employees.

Sorry I can't provide a more definitive answer, but I don't have a lot of experience with larger small business conversions to Guideline.

How many employees are you talking about? I'd be glad to provide you a contact if you're interested in chatting with someone on their team. Send me a PM if so.

catorbe

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Re: 401k comedy
« Reply #51 on: February 25, 2019, 08:28:12 AM »
@Kronsey How many employees is too many for Guideline in your opinion?

@catorbe - Sorry, just seeing this. Been busy with taxes and haven't been on the forums much in the last few months.

Most of my clients that I have helped convert to Guideline have had 20 or under employees. Some of those plans had sizable balances, but not a large number of employees.

I have a rep from Guideline that I chat with on occasion, and he said they regularly do plans for businesses with around 100 employees.

Sorry I can't provide a more definitive answer, but I don't have a lot of experience with larger small business conversions to Guideline.

How many employees are you talking about? I'd be glad to provide you a contact if you're interested in chatting with someone on their team. Send me a PM if so.

Thanks for the response. Over 200 and growing so maybe it's in their wheelhouse now, but may be edging out eventually. I'll get in touch with the guy on our end who handles everything and see if he's previously explored that option before I do anything else. Thanks again!

jinga nation

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Re: 401k comedy
« Reply #52 on: February 25, 2019, 08:36:11 AM »
I've sat in on a Guideline demo. It is amazing.

I'm on my company's benefits committee. Survey last summer showed that employees wanted a lower cost 401k, and Vanguard was specifically mentioned several times.

I wrote up a data-driven paper to management. They agreed to explore other options.

We just completed the proposals from 401k providers, Guideline was in the mix. We also looked at Betterment for Business, Employee Fiduciary, and traditional brokers like ADP, and the incumbents gave us "better numbers" which are terrible compared to Guideline.

This week our VP is presenting her findings to management. Fingers crossed we get the thumbs-up to proceed to switch to Guideline.

Update: we transitioned to Guideline from 1 May 2019. Fuck you American Funds and Wells Fargo "Advisors".
« Last Edit: August 23, 2019, 07:19:39 AM by jinga nation »