Parallel Advisors is a full-service retirement plan investment advisory firm offering a broad range of consulting services to support our clients’ retirement plan needs. We help our clients develop, deploy and manage effective retirement plans that are designed specifically for the needs of their organizations.

Serving:

• 401(k), 403(b), and 457 Plans

• ESOPs

• Defined Benefit Plans

• Cash Balance Plans

• Non-Qualified Deferred Compensation Plans

Simply Better Plan Design

• Plan design assessments that strive to increase an employer’s benefits return on investment (ROI) while enhancing participant retirement outcomes.

  • Plan Design is a critical element to plan success. A corporate retirement plan should be designed to meet the needs specific to that organization’s circumstances, goals and cost considerations. Thoughtful plan design can foresee future issues and address issues related to participation, top-heavy status, improved benefits to owners and key individuals, tax planning and employee retention. Our process will review current plan design as well as explore defined contribution and defined benefit plan options, including safe harbor, profit sharing, ESOP, cash balance and non-qualified deferred compensation plans.

Fiduciary Support

• Comprehensive and ongoing fiduciary guidance, training and support to mitigate potential liabilities​.

  • As an unbiased resource for retirement plan committee members, Parallel Advisors can serve either as an ERISA 3(21) fiduciary (non-discretionary) or an ERISA 3(38) fiduciary (discretionary manager). As part of our fiduciary program, we employ process-driven software and task schedules that help our clients effectively manage their fiduciary obligations.

Fee Benchmarking

• A live-bid process to ensure apples-to-apples comparisons, to help maximize a plan’s negotiating leverage, and verification of value.

  • As a plan fiduciary, it is critical that our clients understand their “all-in” fees. Plan participants are more aware than ever of their fees, and so it is increasingly important to ensure that plan sponsors understand and manage fees and expenses appropriately. We assist clients with monitoring all plan-related expenses and benchmark them so that it can be determined if they are reasonable and prudent, including recordkeeping, administration, investment and advisor fees.

Investment Analysis

• A fund ranking system that aims to enhance outcomes, manage risks and reduce fiduciary exposure.

  • Parallel Advisors’ investment committee drives our investment due diligence process and strategy. Using a mix of proprietary and open-sourced tools and research, we create and manage investment menus and continuously monitor and evaluate the plan investments. When we are engaged as a 3(38) Fiduciary, we will take action when the investment policy requires it, and we take on the risks associated with selection, monitoring and replacement of investment options.

Employee Engagement

• Highly customized plan participant content structured to help optimize outcomes and increase financial wellness.

  • Regardless of how well designed a retirement plan may be, it is only beneficial when employees use it. Many plans suffer from low enrollment and poor investment decisions on the part of employees. Designing and implementing effective participant education and training can help improve outcomes. Multi-modal employee engagement programs using phone support, online and mobile apps, and on-site education events, allow employees to engage in the way that works best for them. We will customize the employee education program to meet the needs of the plan.

Target Date Fund Consulting

• Advanced risk-based suitability process to identify a “best-fit” target date fund series that is right for your plan

  • Target date funds can be very useful in a retirement plan and the thoughtful selection and administration of target date funds can help improve retirement outcomes for plan participants. We will help align target date funds and participant characteristics to make them work for each plan. We will probe the underlying investments, glide path, fees and investment expenses, considering custom and non-proprietary options to get the best fit for the organization.