As a broker-dealer, your advisor partners play a critical role in your business. At the same time, they are relying on you for guidance on the best products for their customers.
In most cases, you can offer excellent options to meet their needs. However, what happens when a client operates a small business and wants the tax advantages of a 401k? All of a sudden, there are few good answers.
You could direct them to a traditional 401k provider, but most offer only plans designed for large companies, with features that small businesses do not need and at prices they cannot afford.
Alternatively, you could recommend one of the emerging small business retirement startups—and roll the dice that they will adequately service those highly regulated accounts, without exposing your advisors to significant risk.
Ubiquity Retirement + Savings™, the leading flat-fee 401k plan provider since 1999, offers the industry’s only advisor-centric, low-cost 401k solution designed specifically for the startup and small business segment.
We manage the entire 401k process on your advisors’ behalf, handling all aspects of recordkeeping, compliance, administration, and servicing. Your advisors can better serve their small business customers and expand their business in this fast-growing and unserved segment. Meanwhile, you can grow your revenues with exclusive 401k investment lineups, and rest easy knowing that your advisors are working with a partner they can trust.
Of the more than five million small businesses with fewer than 100 employees in the United States, just 14%, or roughly 735,000, currently sponsor a retirement plan. That leaves over four million small businesses and their employees without access.
Percentage of small businesses by size, offering a retirement plan:
This represents a massive opportunity for your advisor partners to expand their business in this vastly underserved market segment.
However, for most of them, trying to break into 401k retirement savings would represent a significant investment in time and training, as well as significant new compliance risk.
Fortunately, your advisors do not have to take on the task of establishing and servicing a new, highly regulated line of business on their own.
Ubiquity, the industry leader in small business retirement savings for nearly two decades, can seamlessly integrate our 401k solutions into your advisors’ existing platforms and portfolios—at zero cost to them.
We handle all the work and compliance requirements, so your advisor partners can focus on growing their business.
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Ubiquity makes it easy for advisors to bring retirement savings to their startup and small business clients. Our low-cost, flat-fee retirement plans are designed from the ground up specifically for the underserved and budget-conscientious small business customer. We provide the insights, resources, and state-of-the-art technology platform to help advisors grow their business. They can reap the rewards of offering a one-stop shop for all their small business clients’ financial management needs—without shouldering the time, costs and risk of managing 401k plans themselves.
You may be understandably leery about directing your partners to a 401k recordkeeper/Third-Party Administrator (TPA). As a highly regulated fiduciary process, every step the TPA takes is subject to scrutiny.
Ubiquity developed Paradigm™, a proven, proprietary technology platform and an 18-year track record of profitably serving the small business 401k market. If you are looking for a partner, you can rely on to bring robust, compliant 401k options to your advisors and their clients, trust the longtime industry leader in flat-fee small business retirement savings.
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For financial advisors, expanding into small business 401k plans mean taking on a huge amount of new work and risk.
Combine training, client sales calls, crafting investment lineups, establishing plans, tracking down participants for enrollments, answering complex questions—not to mention a massive amount of record-keeping, all under rigorous regulatory standards—and most advisors are effectively looking at a new full-time job.
With Ubiquity, advisors can simply direct clients to our platform, and our small business retirement experts handle the rest, including sales, service, enrollment, recordkeeping, administration, and compliance. Your advisors and their clients get industry-leading and low-cost retirement savings with dedicated support from our U.S.-based servicing teams every step of the way. We make sure your advisors stay safe and compliant, delivering all the data and backup they need including robust reporting. Meanwhile, they can expand into this huge and growing market segment—extending your investment lineup to new customers and growing their businesses.
Using our proprietary Paradigm software-as-a-service (SaaS) platform, your advisors can offer affordable, Department of Labor (DOL)-compliant 401k plans that are fully integrated with their existing platforms.
We can provide exclusive investment line-ups to grow your revenues (and your advisors’ referrals). Moreover, through our open API, we can even integrate a wide range of payroll, Human Capital Management (HCM), benefits administration and other partner platforms.
Your advisors can deliver the full spectrum of small business financial services with a single, consistent client experience under their brand, with little or no effort, at no cost to them.
The best part: with our industry-leading proprietary technology, their clients can get new 401k plans up and running in an average of just 15 minutes—on their own, through our fully automated self-service platform.
“By partnering our services, we can provide a streamlined solution that empowers employees to make decisions about consumer-driven healthcare creating a long term plan for retirement savings.”
“I was a plan participant at Ubiquity at my former company during the period when they upgraded their system. There was 100% transparent communication during the entire process. I started my own company and we are using them as our 401k plan administrator. The customer service has been spectacular, and their ability to work with my team to educate them on the importance of retirement savings surpasses any other provider I've used. The team is amazing and their pricing and products are better than all the other providers I compared them against.”
Let us help you capitalize on this vast startup and small business retirement market—with minimal effort and zero cost to you.Download the Guide
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