Set Up the Right Retirement Benefits for Your Business with a Savvy Advisor

We aim to establish the ideal retirement plans for your team that align with and support your company's objectives. Our focus is on what matters most to you and your business. We understand the significance of setting up a 401(k) plan that offers the right level of service at a competitive price, and we're here to assist you. Our advisors will guide you in selecting the most appropriate plan for your business. While switching retirement plans may seem overwhelming, we simplify the administrative transition, making it smooth and manageable.

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88% Consider their Retirement Plan one of the most important benefits at work.

Benefits of Working with a Savvy Advisor to Update Your 401(K) Plan

Reclaim Your Time with Administrative and Compliance Support

Your Savvy advisor will shepard you through a range of plan options and service levels, helping you select the most appropriate fit for your business. Acting as a liaison with the 401(K) company, they aim to simplify operations to reduce complications.

3(16) Administrative Fiduciary - Outsource day-to-day plan management and liability
3(38) Investment Fiduciary - Savvy Advisors assumes investment management liability
Eliminate your plan audit and cost

Tailored Plans at the Right Price For Your Business

The Department of Labor advises businesses to issue requests for proposals (RFPs) for their 401(K) plans every three years, and your advisor can help ensure your fee structure and plan is the right one for you.

Flexible investments
Professionally Managed Risk Based Models
Profit-sharing
Roth 401(k) feature
Safe Harbor 401(k) option
Advisor led employee education program

Seamlessly Integrated with Your Payroll System

While numerous plans manually submit contributions every pay period, we work with 401(K) providers to seamlessly integrate their payroll software with the 401(K) company for automated contributions and changes.

Automatic enrollment
360 integration with most payroll providers
Automatic payroll contributions changes and participant contribution uploads to 401k

Educating Your Employees

One of the key advantages of partnering with Savvy is our unique approach to supporting your business benefits plans, which combines traditional in-person education and advice with innovative, tech-driven outreach. We prioritize comprehensive support for both on-site and remote employees to make sure they understand your 401(K) offerings. Your people operations and human resources teams have enough on their plates. Let us take one item off of it, which helps your employees feel supported.

How a Savvy Advisor
Works with Your Business

We believe that having a Savvy advisor work alongside the plan sponsor and serve as the 338 investment manager enhances effectiveness, but what does this mean? You select the right investment advisor for you, and Savvy has a selection of plans to choose from. The advisor will help you select the right plan for your business, and then become the investment advisor on the plan. This means they can advise your employees around the right investments for them with the plan you select. They know the plan and the employees, so they can offer recommendations to help them plan for retirement.

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Switching Your Retirement Plan in less than 90 Days

Switching your retirement plan can seem daunting, but we aim to help make the administrative change easy.  

Depending on your current provider, timelines may vary, but typically, the transfer of your plan will be completed within 40 to 90 days. The process of converting your retirement plan involves four key steps: onboarding, plan document preparation, employee enrollment, and asset transfer.

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Onboarding

Days 0-10

Savvy Advisors/New 401(k) Vendor

Plan Sponsor

Time Investment for Plan Sponsor

Send Savvy service &3(38) fiduciary agreement

E-sign Savvy service & 3(38) agreement

10 Minutes

Send change of advisor form for existing plan

E-sign form to add Savvy to existing plan

5 Minutes

Send template letters for informing your current service provider(s)

Inform the previous service provider about the termination of the plan

20 Minutes (Need a template and email address to send it to, just ask!)

Send census file template

Upload census file

30 minutes

Develop plan's designated investment lineup & investment mapping if applicable

Complete Employer/Plan Information Sheet

20 Minutes
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Create Plan Documents

Days 10-30

Savvy Advisors/New 401(k) Vendor

Plan Sponsor

Time Investment for Plan Sponsor

Review current plan documents and to identify opportunities improve plan design

Verify any proposed modifications to the plan

15 minutes

Set up a transfer timeline and blackout period based on the previous provider's requirements

Verify the designated investment lineup for the plan

10 minutes

Prepare and send the final plan document package for E-signature

Sign the Adoption Agreement and complete the new plan documents

15 minutes

Plan Conversion Final Steps

Days 30 to 90

Savvy Advisors/New 401(k) Vendor

Plan Sponsor

Time Investment for Plan Sponsor

Send enrollment materials & instructions to eligible employees

Schedule in-person or virtual enrollment meeting with Savvy

15 minutes

Work with current payroll system to integrate with new 401(k) company

Payroll training & upload 1st payroll with new 401k company

30-45 minute

Find the right wealth manager for your 401(K) Plan

Savvy's team comprises exceptional and seasoned financial advisors. We are ready to offer personalized assistance in crafting bespoke financial plans that perfectly align with the unique needs and goals of each client.

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