Paul D. Sippil & Associates, LLC

“Supposedly sophisticated people, generally richer people, hire consultants, and no consultant in the world is going to tell you ‘just buy an S&P index fund and sit for the next 50 years.’ You don’t get to be a consultant that way. And you certainly don’t get an annual fee that way.

So the consultant has every motivation in the world to tell you, ‘this year I think we should concentrate more on international stocks,’ or ‘this manager is particularly good on the short side,’ and so they come in and they talk for hours, and you pay them a large fee, and they always suggest something other than just sitting on your rear end and participating in the American business without cost. And then those consultants, after they get their fees, they in turn recommend to you other people who charge fees, which… cumulatively eat up capital like crazy.”

Warren Buffett


Do you understand the actual dollar amount of fees that service providers extract from your account based on their disclosure reports?
CNBC, Forbes, ABC News, and The Wall Street Journal indicate that most retirement plan participants probably don’t.

Can retirement plan providers legally continue these practices
The Department of Labor has added more disclosure requirements to increase transparency, but these fees are still complex and difficult to understand.

What can plan sponsors and employees do to protect themselves?
You can learn about what some service providers have suggested.

Mission: to help retirement plan participants make more informed decisions by promoting increased competition and transparency and shining light on revenue sharing and unnecessary asset-based fees in the group retirement plan industry.