Greenwood Capital is pleased to launch qualified group retirement solutions such as 401(k), 403(b), profit sharing plans, cash balance plans, and other retirement offerings to local businesses and business owners. Through its affiliation with RiversEdge Advanced Retirement Solutions, local businesses may benefit from coordinated investment advice, third-party administration, record-keeping, and local access to fiduciary professionals for business and employee participant consultation.
This three-party approach with the Employer, also known as the plan sponsor, Greenwood Capital, and RiversEdge, enables each party to work in synch to deliver retirement solutions that meet the specific participant-focused objectives of the employer and aimed at attracting and retaining employee talent.
Each entity delivers a specific area of expertise:
- Employer (Plan Sponsor): providing guidance to develop an attractive and cost- effective retirement solution that meets the employer’s business goals.
- Greenwood Capital: providing financial goal/planning and investment expertise in developing an attractive plan, communicating/educating employees on plan options, and investment advice utilizing Greenwood Capital investment models or independent mutual funds/exchange traded funds.
- RiversEdge: developing, implementing and administering a retirement plan with the option to serve as to reduce plan sponsor fiduciary responsibility and potential liability.
“Increasingly we have seen a need to provide a solution to our business owner clients that offers local access to meaningful benefits for their employees,” said Brian L. Disher, CFP® Director of Wealth Management. “Qualified employee benefit plans are an important part of an employee total compensation package and one that should be offered with great understanding of the laws and regulations involved.”
“In recommending RiversEdge to our clients, we were seeking a valued partner with demonstrated expertise that could come alongside us and our clients to provide record-keeping and, if selected by the plan sponsor, fiduciary services,” said Melissa D. Bane, CFP®, CPA, Sr. Private Client Advisor. “Equally, that expertise had to be matched with our own commitment to client service and access to both personnel for individual service, and the online tools employees desire for self-service.”
Established in 2010, RiversEdge Advanced Retirement Solutions is an independent provider of recordkeeping, consulting and administrative services for 401(k) and other defined contribution retirement plans. “Our company was founded on the principal of bringing high-quality retirement plan services to plan sponsors and participants at a reasonable cost,” said Mike Donahue, National Sales and Partner Relations. “In addition, we hold to our core principals the belief that retirement plan services should be delivered in a fully fee-transparent environment with multi-tiered procedures to ensure accuracy and integrity of the plan for both businesses and participants.”
“In working with the RiversEdge team, we have been able to focus on guiding our clients in developing retirement solutions and investment advice, with RiversEdge ensuring plan documents, compliance and administration are in order,” said John W. Cooper, CFP®/Private Client Advisor. “We then provide on-site support for employee education and enrollment. Employees have enjoyed the personal decision-making for their retirement future, and online self-service to their account.”
While offering retirement solutions at Greenwood Capital is not new, offering qualified retirement plans, partnered with a third-party administrator for various services has enabled the firm to provide a more robust retirement individual and group plans. “We have been very pleased in working with RiversEdge to meet additional needs of our clients,” said Disher. “As we strive to provide a full financial view for our clients, this is one more area where we can offer peace of mind, not only for our business owner clients, but also for their employees.”
To further assist individuals and business owners in evaluating potential retirement solutions, Greenwood Capital has launched a retirement and insights page at www.greenwoodcapital.com. This provides visitors high level reference, such as annual contribution limits, as well as more detailed information regarding plan types and benefits.
Founded in 1983 in Greenwood, South Carolina, Greenwood Capital specializes in institutional asset management and wealth management. With specialized teams for Wealth and Investment services, Greenwood Capital offers a variety of services for the individual as well as institutional clientele. Using a top down approach and direct experience in managing proprietary investment strategies, Greenwood Capital has been recognized as one of the largest independent investment firms in the Southeast, managing more than $1.6 billion in assets nationwide.
To learn more about Greenwood Capital, visit http://www.greenwoodcapital.com