What is your Fiduciary 401(k) Score?
  • We are a Defined Contribution (DC) Plan specialist who seeks to deliver comprehensive analysis and quantifiable results for plan fiduciaries 
  • Delivering a Plan Governance Index or PGI™ for your plan can help protect you, your company and your investment committee 
  • Let us show you how we help protect you from a DOL/ERISA audit
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Frequently Asked Questions:

Business Owner Asked:

How does PGI work?

The PGI™ Survey is designed to identify Plan governance breaches and provide clear remedies for the Plan Fiduciaries to fix the gaps and follow the roadmap provided toward improving the PGI™ score. The PGI™ score is delivered in the context of a risk spectrum so that Plan Fiduciaries can prudently assess their risk and liability. The Risk factor combines with a measurement of their plan design to determine if the Plan is leveraging elements that create successful outcomes for employees. 

CFO asked:

What does the process look like?

ERISA is a law based on “process.” The PGI™ metric Process of Investing is designed to provide a broader standard beyond the prevalent practice of evaluating investment performance and associated fees, which is necessary but may be insufficient from a prudency perspective for a Plan Fiduciary. 

There are three areas of concentration: Process of Investing, Plan Administration, and Participant Outcomes

We gather the necessary documents, have the Plan Sponsors answer some survey questions and then input our findings to get you your PGI™ score. 

Director of HR asked:

What if we don't do your report?

No problem. Did we mention it was free? And...you might like to know:

The Department of Labor (DOL) must assess a civil penalty equal to 20% of the applicable recovery  amount in the event of any breach of fiduciary responsibility or violation by a fiduciary or knowing participation in such breach or violation by any other person.

ERISA  permits participants and beneficiaries to bring civil actions against a fiduciary who breaches his or her duty. The fiduciary is personally liable for any losses to the plan resulting from his or breach(es).
 
In 2017 there were 1,707 DOL investigations with 65% resulting in violations. More than $1.1 Billion was collected by the DOL in fines and monetary recoveries. 

Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.

Farrall Wealth and subsidiaries are not affiliated with HERO7.com in any way. Farrall Wealth specializes in management and retirement plan governance assistance. HERO7.com is a subscription service that Farrall Wealth pays for and submits information to receive detailed analysis. LPL Financial is not affiliated with HERO7.com.

LPL FINANCIAL AND FARRALL WEALTH ARE NOT AFFILIATED WITH HERO7 AND DO NOT REPRESENT OR ENDORSE THE ACCURACY OR RELIABILITY OF ANY ADVICE, OPINION, STATEMENT, OR ANY OTHER INFORMATION DISPLAYED OR DISTRIBUTED THROUGH HERO7, INCLUDING THE FIDUCIARY SCORE REPORT. YOU ARE UNDER NO OBLIGATION TO UTILIZE THIS COMPANY. FARRALL WEALTH HAS PAID FOR A SUBSCRIPTION TO HERO7 IN ORDER TO ALLOW FOR COMPLIMENTARY ANALYSIS TO BE DELIVERED. NEITHER FARRALL WEALTH NOR LPL FINANCIAL OFFERS FIDUCIARY SCORE SERVICES.

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