Mike Wilson discusses how Blueprint Retirement Advisors supports owners of small-to-midsize businesses by serving as an extension of their advisory team to lessen the tax burden and increase cash flow.
Listen to the interview on the Business Innovators Radio Network
Blueprint Retirement Advisors relies on process-driven planning to help clients make the most of their financial resources. The company delivers a high level of personal service to business owners and individual investors. The Blueprint Design Review process helps clients evaluate financial decisions for both long- and short-term issues. No products or strategies are recommended without careful examination of the entire financial picture.
Blueprint Retirement Advisors works with nonprofits, business owners and plan sponsors to build and manage ERISA-based plans, such as:
- Profit Sharing
- SIMPLE IRA
- Payroll Deduction
According to ERISA rules, the sponsor is the plan’s Prudent Investment Expert. This role makes them personally liable for what happens with the investments inside the plan. Such a risk poses significant personal liability—and is completely unnecessary. Being a Plan Sponsor comes with a lot of responsibility. One of the elements that often catches Plan Sponsors by surprise are the duties required of them as Plan Fiduciaries.
Wilson commented, ” We recommend offloading this fiduciary responsibility by structuring the plan with a 3(38) election, which allows a plan sponsor to shift 100% of the fiduciary liability to the investment advisor. Working with Blueprint and a 3(38) election shifts the plan sponsor’s role from a fiduciary to a monitor. Additional responsibility can be shifted using the 3(16) election, which removes the duties of plan management and administration from the sponsor. Once your plan is in place, regular participant education sessions (on-site or online) are offered, so all plan
About Mike Wilson
In founding Blueprint Retirement Advisors, Mike Wilson builds on thirty-plus years of experience advising clients about strategic financial decisions. Many of those years included operating a top-performing captive insurance agency, earning Bronze Tablet, Silver Scroll, and Golden Triangle awards. Mike’s commitment to prioritizing client interests includes professional development and continuous learning. He takes his fiduciary role very seriously and advocates for his clients in every aspect of their financial life. When not working as a financial advisor, Mike enjoys fishing, cooking, and travel—and most of all, spending time with his wife and children. If you’re a small business owner wondering how to get access to the VIP strategies of large corporations, then reach out to me for a no-cost conversation.
Learn More: https://www.blueprintra.com/