Services
Comprehensive
Solutions to Reach
Your Financial Goals
While our team acts as a Fiduciary for the investments within your Plan, we also integrate our guidance into all of the other needs of your Plan. Working alongside your committee, we will guide you to help ensure that your Plan is working as efficiently as possible for your organization and its employees.
More and more Plan Sponsors are being forced to “fit the box” of their provider. Our services can be offered either all-encompassing or on an à la carte basis. We utilize a personalized approach to help clients manage all aspects of their retirement Plan.
First, we benchmark your current Plan to determine its competitiveness from an administrative, investment, and cost-effective standpoint. Next, we implement our due diligence process to the Plan and document fiduciary control activities and responsibilities. Finally, we recommend the appropriate investment selection(s) to optimize asset allocation.
As part of this process, we develop an investment education program for your Participants, customized for your organization’s demographics and needs.
Retirement Plan Services include:
The world of qualified retirement Plans has changed, and continues to quickly change as a result of new legislation and compliance related issues. Sponsors, Trustees, Committee Members, CEOs, CFOs, and Human Resources are dedicated to following ERISA and doing their jobs as effectively as possible, yet cannot possibly make it their "full time job" to keep up with these rapid changes. However, the DOL and SEC state that it is a Sponsor's fiduciary responsibility to do so.
ENOS works in conjunction with ERISA attorneys and with your Provider, facilitating access to the compliance services designed to help protect you, the Plan Sponsor, to manage liability. We provide:
- Plan Design Assistance: We will continuously work with you to review design and operational features and discuss potential enhancements.
- Compliance Assistance: We monitor and educate clients on all DOL issued guidance in an effort to address SEC/FINRA regulatory concerns regarding advice from “independent” parties.
- General Business Consulting: Since companies are finding that ERISA dramatically affects or impacts other aspects of the company’s business, ENOS is available to be relied on to review structure, costing, marketing and training programs to help ensure you remain competitive, cost effective and up-to-date in the marketplace, always considering budgetary issues.
ENOS offers 401(k) and 403(b) participant education through group training and one-on-one guidance.
ENOS offers:
- On-site enrollment/educational meetings, including one-on-one counseling and individual asset allocation guidance
- Participant Call-In Center so that Plan Participants may review their 401(k) and 403(b) Plan options with ENOS representatives, all of whom are duly registered with FINRA.
- Quarterly Participant Newsletters.
- Education to employees on the tax and savings advantages of a 401(k)/403(b) Plan, including illustrations to help employees understand the importance of saving for retirement, the importance of starting early and specific data on the investment options offered through the Plan.
- Communications can be customized at the Participant level, including bilingual materials.
ENOS’ independence and services enhance the current education offered through the Plan Provider. These services are offered in conjunction with the Plan Provider. Representatives from the Provider and/or individual Investment Providers remain available to supplement communication and education.
What investments you choose depends on the following:
- Your own risk tolerance
- Your understanding of the investments
- When you started saving for retirement
- The amount you are saving
- Your anticipated retirement age
- Other investments for retirement – outside your 401(k)/403(b) Plan
ENOS is a full-service employee benefits and investment consulting firm. ENOS, is here to provide you with unbiased, proactive consultative support regarding the Plan and the investment options offered. ENOS can provide individual guidance to help you make the most appropriate decision toward meeting your retirement goals.
Keeping Plans current and competitive are key components in attracting and retaining talent. We benchmark your current Plan to determine its competitiveness from a design, administrative, investment and cost-effective standpoint.
ENOS takes a personalized approach when benchmarking. In addition to utilizing industry benchmarking services, we gather information from Providers which includes existing, real- time services and fees. In addition, we continually conduct on-site due diligence visits on the Provider level, verifying their operation and services and speaking with upper and middle management along with their service representatives.
The DOL expects Plan Sponsors to know how much their Qualified Retirement Plan is "truly costing" in terms of both direct and indirect costs. ENOS Consulting Group will provide you with an analysis of your Plan's total fees and analyze the effects of distribution and revenue sharing in terms of pricing and flexibility. Our review typically includes:
- An explanation and review of the current Plan fee structure, determining if the existing costing structure is "reasonable" in light of services being provided and other industry benchmarks. We will uncover all various forms of revenue sharing, including the Provider's required revenue for your Plan.
- Our analysis will follow ERISA's general standards of fiduciary conduct that apply to all fee disclosure requirements.
- Responsible Plan fiduciaries must assure that the compensation paid directly or indirectly by the Plan is reasonable. As such, fiduciaries must obtain sufficient information regarding any fees or other compensation that affect the Plan as well as comparing them to appropriate costing benchmarks and industry standards. We can assist you to not only understand the types of Plan fees but also provide an analysis of fees specific to your Plan so a determination as to "reasonable" can be made.
Fees and expenses are an important component in managing your retirement Plan. The DOL, more than ever, expects Plan Sponsors to pay attention to costs, analyzing and understanding them, and ensuring their reasonableness.
At ENOS Consulting Group, Inc., our team also specializes in Defined Benefit Investment and Advisory Services. The following are services we offer:
Financial Oversight
- Customized asset allocation, in large part determined by the over- or under-funded nature of your specific Plan and funding requirements
- De-risking strategies
Advisory Services for Active and Frozen Plans
- Impact of regulatory changes
- Obligations and duties under ERISA and the Internal Revenue Code
- Oversight of funding status
- Comparison of soft, partial, and hard freeze or Plan termination
Plan Termination Studies and Operational Compliance
- Assessment of business impact of termination
- Notification and reporting requirements
- Annuity quotes from multiple providers
We are absolutely independent and unbiased and offer no internal products, ensuring total objectivity. Above all, we understand the importance and consequences for the fiduciary with regard to investments and Plan continuation decisions.
Plan Sponsors often need guidance regarding Plan fees and expenses – what they are and how they are paid. ENOS Consulting Group can provide that guidance in the following areas:
Plan Forfeitures: The Internal Revenue Code (IRC) generally does not allow for forfeitures to be held in suspense accounts beyond the Plan year in which they arise. And, the IRC and relevant IRS guidance provide that forfeitures may be used to reduce employer contributions and/or pay Plan “reasonable and necessary expenses that benefit Participants.” While ENOS cannot provide legal or tax advice, we can provide information to help you determine expenses that may and may not be paid from Plan Forfeitures and best practices to help ensure that outstanding balances in the forfeiture accounts are being used timely.
Plan Expenses vs Company Expenses: As with Plan Forfeitures, certain administrative expenses can be paid from the Plan and others must be paid from general assets of the Plan. ENOS can help you identify administrative expenses associated with your Plan. Once expenses are identified, we can provide guidance to help you determine what can be paid from the Plan and the impact on Participants and what must be paid by the Plan Sponsor so that the appropriate funding can be budgeted.
Fee Policy Statement: This is a document that spells out how fees ought to be allocated among all the parties within a 401(k) or 403(b) Plan. Besides answering the question about who is paying for the administrative cost of running the Plan, a Fee Policy Statement also answers the following questions – Is there revenue sharing between the recordkeeper and the fund companies; and if so, how do Plan Sponsors account for it? Do the service providers restore any leftover revenue-sharing amounts after they have recouped costs and profits; and if so, where are those dollars being held? The document also details the Plan Sponsor’s duties with respect to fee oversight—namely, how often the Plan’s fees should be reviewed. ENOS can help you develop a Fee Policy Statement so that you understand the options for paying expenses and you have stated guidelines governing the operation of the Plan.
ENOS services offered include:
- Assistance with Plan Document Review
- Assistance with due diligence required of Plan provision comparisons
- Comparative Fee Analysis
- Comparative Investment Review
- Employee Communication Campaign
- Retirement Plan Committee Guidance
Why is this important?
ERISA requires those who manage retirement Plans to make investment decisions prudently and for the sole interest of the participants and their beneficiaries. These requirements are intended to shape the decision-making process of Plan officials who choose the various investment options made available to Plan participants. A fiduciary whose choice of investment options fails to satisfy these requirements can be liable for any resulting Plan losses.
The good news is that ERISA judges a fiduciary not by the Plans actual investment results, but rather by the quality of the fiduciary’s decision-making process. A fiduciary is not expected to be a seer but is expected to be careful, deliberate, and thoughtful in decisions. In short – ERISA simply requires a good procedure.
While ERISA does not actually require a formal written investment policy statement, almost all attorneys and commentators will agree that a written investment policy statement is the only way that a Committee can demonstrate to the DOL and/or plaintiff attorney that they follow a process that satisfies ERISA.
ENOS CONSULTING GROUP can provide you with a customized Investment Policy Statement (IPS) if you do not currently have one and/or review your current IPS and make suggested revisions. In addition, once written it is as important to make sure that it is not forgotten. Many Plan Sponsors make changes to their platform and Plan document, but do not contemplate if such changes require an IPS update. ENOS CONSULTING GROUP can follow your IPS to identify and implement amendments as needed.
During an M&A deal, companies generally perform due diligence across all areas of the target company to identify issues that need to be addressed. If employee benefit Plans are not included in this due diligence, an acquiring company can discover that it has inadvertently become the owner of significant employee benefits Plan problems.
ENOS Consulting Group, Inc. strongly encourages you to conduct your benefit Plan due diligence prior to completion of the merger or acquisition. Having said that, whether during the negotiation stage or after the merger/acquisition is completed, ENOS can be your trusted source for detailed analysis and insights on issues affecting pension and retirement Plans.
ENOS has many years of experience with merger & acquisition activity. Our involvement and expertise help ensure that proper due diligence is conducted with respect to the acquired Qualified and Non-Qualified Plans as well as a comprehensive review of all Plans that will be subject to change due to any M&A activity. This also holds true for Pension Plans and Executive Compensation Plans.
An executive deferred compensation Plan can be a valuable supplement to company's executive benefits. Such Plans are often referred to as non-qualified Plans and are thus not subject to ERISA’s non-discrimination regulations. ENOS Consulting Group can assist Plan sponsors in designing and implementing a Plan to give you an edge in recruiting and retaining valuable executive leadership, and offer key executives information and education to help them understand and appreciate the value of participating in such a Plan as part of their strategy to build wealth and supplement their retirement in a tax-efficient way.
ENOS offers customized asset management, communication, and education services:
Support
- Seasoned assistance with Plan design and implementation.
- 409(a) Compliance Assistance – review of your non-qualified Plan in relation to the requirements of IRS Section 409(a).
Communication and Education
- Custom communication and education programs to reach employees.
With our 50 years of combined experience, ENOS’ financial professionals can help tailor Plans that allow the company to reward selected executives and provide these highly compensated individuals the ability to:
- Defer taxes;
- Save additional monies for retirement beyond the 401(k), 403(b), and Profit-Sharing Plan limits.
Additionally, those invited to join the Plan may enjoy benefit equalization, not subject to IRS limits, through company-matching contributions.
There are a variety of reasons for employers to consider Executive Life Insurance.
- As an employer, offering Executive Life Insurance may help meet goals of attracting, rewarding, and retaining top executive talent.
- As a business leader, you may compensate the business for financial losses that would arise from the death or extended incapacity of an important member of the business.
Depending on the objectives of the business, there are a variety of products available, such as:
Key Person Insurance
This is generally a standard life insurance policy that is used for business succession or business protection purposes. These policies are usually owned by the business and the aim is to compensate the business for losses incurred with the loss of a key income generator and facilitate business continuity.
Corporate Owned Life Insurance (COLI)
This is life insurance on employees’ lives that is owned by the employer with benefits payable either to the employer or directly to the employees’ families.
Term Life Insurance/Whole Life Insurance/Universal Life
These represent choices for individual policies that generally benefit family members or others named as beneficiaries.
All of the above come with specific eligibility and other requirements, tax treatments, funding, loan provisions and advantages.
ENOS Consulting Group can help identify your needs and offer guidance to help you navigate this complicated benefits arena to select the most appropriate or combination of options for your executives and business.
What is the actual outcome you desire from your portfolio and how do you get there? We believe your portfolio must be invested intentionally directed toward your own personal goals, risk tolerance, and overall longevity Plan. All of the money you've accumulated or inherited should have a purpose that is tailored to your own needs. Our customized investment strategies will help you get there.
Unlock Your Financial Potential with Our Wealth Management Services
At ENOS Consulting Group, we understand that wealth is not just about numbers; it's about your legacy, your dreams, and your future. Our dedicated wealth management services are tailored specifically for high-net-worth individuals like you, who seek independent advice and personalized strategies designed to meet your unique financial goals.
Why Choose Us?
Independent Advice: We prioritize your needs above all else. Our independent approach ensures that you receive unbiased guidance and creative solutions tailored to your financial landscape.
Personalized Financial Strategies: Every client is different. We take the time to understand your specific circumstances and aspirations, crafting personalized financial strategies that align with your goals, whether it’s wealth creation, retirement planning, or philanthropic endeavors.
Holistic Approach: Our wealth management philosophy encompasses all aspects of your financial life. We integrate investment management, tax strategies, and estate planning into a cohesive Plan to ensure your wealth is not only grown but also preserved.
Creative Solutions: In today's dynamic financial landscape, conventional strategies may not suffice. Our team is committed to finding innovative solutions that will help you navigate complexities and seize opportunities.
Wealth Creation and Tax Strategy Implementation: We help you build wealth through strategic investments while implementing tax-efficient strategies to maximize your returns and minimize liabilities. Our expertise in tax planning ensures that your wealth is retained for generations to come.
Legacy Planning: Ensure your legacy is preserved according to your wishes. We assist in creating a comprehensive Plan that reflects your values and ensures your wealth benefits future generations.
Comprehensive Financial Planning: Our services extend beyond investment management. We provide a full suite of financial planning services to help you achieve your long-term objectives, from retirement to estate planning.
Wealth Management Tool
Whether your financial concerns are simple or complex, the first step in any action is organization. Our goal is to make this easy for you. For qualified clients, our customized Wealth Management Tool allows you to consolidate everything key to managing your financial success in one place where it is safe, secure, and easily accessible. Investments, accounts, wills, trusts, passports; all your financial and important documents are conveniently, securely, and electronically stored for easy access. In addition, all your accounts are updated daily providing you with a live, dynamic financial Plan. This way we can make sure that all your varied assets are working together, integrated, in harmony, and supporting your goals.
Integrated Planning
We look at the entire picture to create a financial Plan that will help meet your immediate needs and long-term goals.
First we analyze all of your assets and then use an integrated asset allocation model to produce a comprehensive financial Plan. You may have multiple advisors, CPAs, attorneys, and multiple investment professionals, one for stocks and bonds, another for insurance and another for real estate, but how do you know all of them are working together and working for you?
Teams are always stronger than individuals. Customized strategies are more successful than general approaches. We believe this and for these reasons, we integrate everything you have and perform a full analysis across all of your resources. Once this analysis is done, an integrated financial Plan is built by our CERTIFIED FINANCIAL PLANERTM Professionals that focuses all the elements of your wealth on working towards your goals.
Take the Next Step Towards Financial Empowerment
Partner with ENOS Consulting Group to embark on a journey towards financial security and growth. Our experienced advisors are here to provide you with the guidance and expertise you need to thrive in today’s complex financial world.
Contact us today to schedule a consultation and discover how we can help you achieve your financial goals while preserving your legacy for future generations.
Your wealth, our expertise – together, we can create a prosperous future.
Whether you built your wealth through a lifetime of savings, a significant inheritance, or building & running a closely-held business, protecting that wealth is of utmost importance. Our Planning team and professional network can help design and implement the strategies you’ll need in order to fund your lifestyle, create legacy across generations, fund charitable giving, all while protecting from unnecessary taxes and other liabilities & pitfalls.
By definition, estate Planning is a process designed to help you manage and preserve your assets while you are alive, and conserve and control their distribution after your death according to your goals and objectives. But what estate Planning means to you specifically depends on who you are. Your age, health, wealth, lifestyle, life stage, goals, and many other factors determine your particular estate Planning needs.
Upon request, ENOS Consulting Group can provide you with individual wealth management services including:
- Integration of corporate benefits with individual estate Planning objectives
- Customized Planning – exploring tailored strategies aligned with your objectives & resolving prevalent concerns
- Self Care TrustTM
- Irrevocable Trusts
- Leveraged Gifting
- Discounted Valuation
- Charitable Planning Techniques
- Durable Power of Attorney
- Advanced Medical Directive
- Life Insurance
- Estate Planning – requires thoughtful consideration of key aspects
- Selection of beneficiaries, executor of your will, and guardians for your children
- Strategies to avoid probate costs
- Arrangements to reduce estate/death taxes
There are a variety of reasons for employers to consider Executive Life Insurance:
- To attract, reward, and retain top executive talent
- To compensate the business for financial losses due to the death or incapacity of a key employee
To meet the objectives of the business, there are several product options available:
- Key Person Insurance
This is a standard life insurance policy used for business succession or protection. These policies are usually owned by the business and aim to offset financial losses from the loss of a key contributor and facilitate business continuity. - Corporate Owned Life Insurance (COLI)
Life insurance on employees’ lives owned by the employer, with benefits payable either to the employer or the employee’s beneficiaries. - Term Life / Whole Life / Universal Life Insurance
These are individual policies typically designed to benefit family members or other designated beneficiaries.
Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of our success.
- Integration of corporate benefits with individual estate planning objectives.
- Customized planning – exploring
- Irrevocable Trusts
- Leveraged Gifting
- Discounted Valuation
- Charitable Planning Techniques
- Durable Power of Attorney
- Advanced Medical Directive
- Life Insurance
- Estate Planning – Planning your estate requires thoughtful consideration of a number of key issues.
- Selection of Beneficiaries of the estate
- Executor of your Will
- Guardianship
- Strategies to avoid probate costs
- Integration of corporate benefits with individual estate planning objectives.
Every stage of life has its own financial needs and concerns, including:
- Changing jobs
- Getting married
- Starting a family
- Buying a home
- Death of a loved one
- Divorce
Your business is usually your largest asset. How does it tie into your own personal, family, and legacy Planning? As business owners, we typically spend all of our time & efforts working IN our business and not working ON our business. ENOS Family Office Group can help you work your business efforts into your OWN personal Planning, designing strategies to make sure it is protected and efficient with Continuity, Succession, & Exit Strategies to maximize the financial benefit of the enterprise you’ve worked so hard to build.
We provide assistance in the following areas:
Individuals
- Separate Managed Accounts
- Alternative Investments
- Fixed and Variable Annuities
- Insured Cash Accounts
- Traditional IRA
- Roth IRA
- Government Securities
- Disability Income Insurance
- Life Insurance
- Long Term Care Insurance
Corporations
- 401(k)/403(b)/Profit Sharing
- SEP and SIMPLE IRA
- Defined Benefit and Pension Plans
- Deferred Compensation
- Buy Sell
- Corporate Cash Management
Planning
- Retirement Planning
- IRA Distribution Planning
- Stretch IRA
- Estate Planning
- Risk Management
- Education Planning
- Income Tax Planning
- Succession Planning
- Stock Option Planning
- Tax Planning
