Understanding Our Fees
We believe in a value-driven pricing approach, which reflects the experience, expertise, and qualifications of the consultants involved in service delivery. Some of Spectrum's fees for routine services or for certain consulting assignments are priced as a fixed budget or are based on unit charges (ex. number of employees, number of participants, amount of assets, etc.) With respects to ongoing retirement plan services, we also believe in pricing simplicity: less complex retirement plans should have lower costs. Complexity or additional plan features will incur higher costs due to increased administration, compliance, and/or recordkeeping requirements. Some examples include:
- Employer Characteristics: Controlled groups, multiple payroll schedules, non-corporate entities, participating employers, etc.
- Plan Design: New comparability compliance requirements, Non-safe harbor plans, etc.
- Plan Features: Brokerage windows, Investment Models, Non-FDIC insured capital preservation options, etc.
Thankfully, many of these factors are within the control of plan sponsors, allowing for value-driven decisions of the benefits versus costs. Spectrum’s consultants collaborate with plan sponsors and advisors, recommending plan designs and features that meet your objectives, while ensuring economical plan operations. Please contact us for personalized consultations to explore cost-effective solutions for your retirement plans.
Below is a breakdown of rates and fees by category: