401(k) Investment Advisor Cambridge, MA | McGrath Advisors
McGrath Advisors Inc.
Our experienced team is here to offer you ongoing guidance and planning. At McGrath Advisors Inc., we help you learn how to navigate what is possible. Our fiduciary promise is to uphold the highest standards of integrity, honesty, and commitment to do what is right for our clients, no matter what. Client education is a top priority. We pride ourselves on helping you make informed financial decisions. Retirement planning services are one of our specialties. The team at McGrath Advisors Inc. is focused on being responsive to client needs and providing innovative solutions to help you achieve a life well planned.
What is a 401(k)?
A 401(k) plan is an employer-sponsored, defined-contribution retirement savings account that allows employees to allocate part of their salary towards retirement in a tax-advantaged way. Funds go into the 401(k) before taxes are taken out, so these funds are called pre-tax. Money is then invested into various investment vehicles such as stocks, bonds, and mutual funds chosen by the plan provider and individually selected by the plan participant. Some employers match a percentage of employee contributions. A 401(k) investment advisor will assist individuals in making the most out of their employer-sponsored 401(k) retirement account. They can also be an invaluable resource to business owners who offer 401(k)s or are considering it.
401(k) Investment Advisory Services Offered
Plan Coordinator – There are many roles involved in managing a 401(k) plan from administration, record keeping, payroll, financial advising, and so on. All of these roles must work well together for the operation to run smoothly. A 401(k) investment advisor can serve as a coordinator amongst all of these professionals involved in plan administration.
Investment Decisions – Business owners and human resources professionals are intelligent and capable. Still, they should seek the advice of a financial professional when deciding which investment vehicles to offer to their employees in a 401(k) plan and making other essential plan decisions. A 401(k) investment advisor will help you decide what works best for your company and its employees.
Plan Participant Advisement – Help your employees improve their chances of having a successful retirement and reduce fiduciary risk as an employer. 401(k) investment advisors can help employees make sound financial decisions within the 401(k) plan.
Risk and Fiduciary Compliance – Employers who offer 401(k) plans to their employees are taking a risk. They must act in the best interests of their employees when making essential plan decisions. 401(k) investment advisors can help employers alleviate risk and balance fiduciary compliance. Seeking the help of a professional is imperative to reducing the inherent risk that comes with offering retirement plans to employees.
Key Takeaways
Whether you are an employer offering 401(k) plans to your employees or an employee with an employer-sponsored 401(k), don’t try to navigate the many complexities of planning for retirement alone. A 401(k) investment advisor is your best asset in making 401(k) plan decisions. They help with a variety of services and can alleviate much of the risk and stress that can come along with investment and financial planning. While you are likely an intelligent and capable individual or business owner, a financial professional has years of experience and training in these areas. They can help you avoid making costly mistakes that can ultimately harm you in the long run. Get with a financial advisor at McGrath Advisors for your 401(k) plan consultation today.