Retirement Planning

401(k) • 403(b) • 457

At NEFG, our mission is clear – to provide our clients with proper financial advice and guidance by employing the highest standards of care.

Fiduciary Best Practices

At NEFG, our focus is to provide guidance on fiduciary “best practices” to plan sponsors. The following steps are the framework of the services we offer to plan sponsors to assist them in fulfilling their fiduciary responsibility to plan participants.

401(k), 403(b) and 457 Retirement Planning

Plan Sponsor Fiduciary Duties

  • Investment Policy Statement
  • Quantitative & Qualitative Fund Analysis
  • Prudently Select Investments
  • Consistently Implement Results
  • Independently Monitor Investments
  • Defray Reasonable Fees
  • Follow Plan Document

Protection for Participant Investment Decisions

  • Broad Range of Investment Options
  • Sufficient Investment Information & Education
  • Description of Fees & Expenses
  • 404(c) Policy Statement & Employee Notice
  • Description of Investment Alternatives & Fund Facts

Fiduciary Investment Services

NEFG is required by law to place the interest of our clients before our own and fulfill the following critical fiduciary duties of trust and confidence:

  • Investment Policy Statement (IPS) – A key driver in fulfilling fiduciary responsibility, an IPS leads to accountability and better, more consistent decision making.
  • “Best of Class” Investment Choices – As independent Registered Investment Advisors, we advocate the use of “open-architecture” plans allowing access to an extensive offering of investment options without proprietary product restrictions.
  • Independent Research – NEFG performs internal due diligence on investment managers utilizing resources such as fi360 and Morningstar, in addition to conducting regular calls with managers.
  • Transparent Disclosure of Expenses – The Department of Labor (DOL) requires full disclosure of plan expenses and identification of potential conflicts of interest. NEFG provides full disclosure of Plan expenses in writing and has done so prior to DOL requirements.
  • Independent Plan Administration – NEFG will work to coordinate efforts between you and your Third Party Administrator to assure plan compliance and fiduciary standards are being met.

As Registered Investment Advisors, NEFG is capable of functioning as either a Limited-Scope 3(21) or Discretionary 3(38) Fiduciary to the plan. The respective roles are defined as follows:

Limited-Scope 3(21) Fiduciary:

Someone who has been appointed by a “named fiduciary” with the responsibility to render investment advice to the “named fiduciary” and/or participants. Such advice is acted upon at the discretion of the “named fiduciary” or participant.

Discretionary 3(38) Investment Manager:

A fiduciary who has full discretion for investment selection and monitoring. The presence of a 3(38) relieves the plan sponsor from the fiduciary liability for the investment selection and monitoring.

Participant Educational Services

Northeast Financial Group, Inc. believes that proper employee education is the key to increased participation and savings rates. Our three-phase education program is designed to provide employees with the tools they need to best utilize the benefits of the plan and become better prepared for retirement. The education process is summarized below:

Step One: Group Enrollment

  • Communicate the plan highlights
  • Introduction of retirement planning basics
  • Introduction of asset allocation basics

Step Two: One-on-One Enrollments & Reviews

  • Meet with participants to discuss financial goals and objectives
  • Determine an appropriate savings rate
  • Determine participant risk tolerance
  • Recommend a suitable asset allocation
  • Follow up reviews to determine continued suitability

Step Three: Conduct Group Educational Seminars

  • Provide periodic seminars on investment and retirement planning topics. Seminars can be tailored to specific employee groups such as those nearing retirement.

Case Studies

Financial Wellness Program

We understand your financial goals are unique to you, and your path to achieving them requires careful goal-setting, diligent planning, and ongoing monitoring of your investment decisions.