Individuals and Families
HOW WOULD YOU ANSWER THESE QUESTIONS?
Do you believe you are saving or investing enough of your current income?
Are you using a well-coordinated suite of financial programs that may be available or important to you and your family?
Our family approach is financial-planning based. It starts with several in-depth conversations followed by a customized financial plan. We use both proprietary and licensed software to develop a plan based on our initial discovery as well as answers to questions that ensure we understand the client’s situation and needs. This vital document provides us with the time horizon and specific goals. We review and update our clients’ financial plans throughout the lifetime of the relationship. Using the plan as a guide, we proceed to select a variety investments that are tailored to the client’s needs. We thoroughly explain portfolio’s investments, risk and taxation considerations.
Our Financial Planning Process
1. Initial Discovery
RESEARCH
Engaging with you and your family, taking the time to understand your issues, goals and learn about these topics that are unique to you. We converse to understand your concerns about both your wealth as well as your life issues. What are the relevant risks and worries and how do you address them; how should they be dealt with and what can we do to change them?
2. Proposal
TEAMWORK
Once we feel we understand where you are, where you would like to be and what is most important to you and your family, we begin to create a blueprint of a plan using all the information as input. We will collaborate with your other advisors, your attorneys and your CPA to make sure all issues are considered and we will craft a well thought out plan to help you navigate towards your goals.
3. Lifestyle Planning
FIDUCIARY
Beyond investments, we will work with you to take steps to address your concerns. Lifestyle planning helps you address areas such as liability issues, charitable giving, and working with your family on inheritance matters to give you a level of comfort beyond just your wealth.
4. Constant Monitoring
TRANSPARENCY
Your plan will serve as a roadmap that explains not only how your investments will be handled but how to address other issues you've discussed with us. We offer intuitive tracking of your accounts to check asset values and portfolio performance and we are available to discuss the status of your wealth management plan as requested. Most importantly, we are available to meet, either by phone or in person whenever needed to review your lifestyle plan, any changes in your life, concerns you have and to strategize how we can help to keep you on track.
Retirement Plan Sponsors
OUR SERVICES ARE:
Comprehensive: From Fiduciary Oversight to Conversion
Objective and Independent: Provided on a fixed fee-only basis
Aligned Goals: We serve as an ERISA Plan Fiduciary
TOROSO ACKNOWLEDGES IT IS:
A Plan “fiduciary” [ERISA §3(21)], [ERISA §3(38)]
An investment adviser registered with the SEC
Covered by fiduciary liability policy (E&O)
OUR ONLY COMPENSATION IS FROM FEES PAID BY OUR CLIENTS:
We do not accept soft dollar compensation. We do not hold manager conferences
We have no affiliations with financial service firms (i.e., bank, insurance, brokerage, trust, custody, administration, etc.)
We have no representatives registered with broker-dealers
PLAN DESIGN AND COMPLIANCE
Toroso’s advisors have extensive backgrounds – over 75 years of combined experience – in benefits and compensation consulting (we are former employees of Morgan Stanley, Rothschild, Buck, and Fidelity, among others). With years of experience in retirement plan design, we understand the competing priorities of providing employer-funded retirement benefits and protecting shareholder value. We are not only well versed in plan design (match, non-elective, integrated, cross-tested, Top-hat and SERP), but also in plan administration (eligibility, enrollment, grandfathering impact, loan and withdrawal features, distribution options, etc.) and investment structure (number and type of investments).
For years, we have been staunch advocates for automatic enrollment, automatic increase and defaulting participants into equity-based investment portfolios. Many of our clients have benefited from auto-enrollment features for more than 10 years.
Our comprehensive review and follow-up analysis for 401(k) and non-qualified plans includes the following:
Plan Design: rewards philosophy, retirement sufficiency analysis, assessment of employer costs, expected employee behaviors,
Benchmark to industry peers
Plan Benefits: match (tiered or not), non-elective, combination, integrated, cross-tested, etc.
Plan Features: eligibility, eligible pay, automatic enrollment and increase, pre-tax & Roth 401(k) contributions, distribution options, loans, and withdrawals
Plan Administration: recordkeeper competency, services, service agreement and fees, confirm if any tasks should be in-sourced, out-sourced, or co-sourced
Compliance: Document review, Summary Plan Description (SPD) development, error-evaluation and correction (self-correction, VCP)
Investment Structure: compare current lineup to best practices
Investment Manager Review and Selection
Total Plan Expense Analysis: employer-paid vs. employee-paid; benchmark to peer group
Communication and Education: effectiveness of current approach/media
Benchmark Findings: Third Party studies relative to appropriate peer group and industry best practices
For Corporate Retirement Plans
Toroso focuses on retirement plan consulting, investment advice, provider searches and communication/education. We continually review plan design, administration and investments and suggest changes/improvements based on funding, tax law changes, benefit design trends, investment performance and benefit administration enhancements.
OUR SERVICES ARE:
Comprehensive From Fiduciary Oversight to Conversion
Objective and Independent Provided on a fixed fee-only basis
Aligned Goals We serve as an ERISA Plan Fiduciary
TOROSO ACKNOWLEDGES IT IS:
A Plan “fiduciary” [ERISA §3(21)], [ERISA §3(38)]
An investment adviser registered with the SEC
Covered by fiduciary liability policy (E&O)
OUR ONLY COMPENSATION IS FROM FEES PAID BY OUR CLIENTS
We do not accept soft dollar compensation. We do not hold manager conferences
We have no affiliations with financial service firms (i.e., bank, insurance, brokerage, trust, custody, administration, etc.)
We have no representatives registered with broker-dealers
PLAN DESIGN & COMPLIANCE
Toroso’s advisors have extensive backgrounds – over 75 years of combined experience – in benefits and compensation consulting (we are former employees of Morgan Stanley, Rothschild, Buck, and Fidelity, among others).
With years of experience in retirement plan design, we understand the competing priorities of providing employer-funded retirement benefits and protecting shareholder value. We are not only well versed in plan design (match, non-elective, integrated, cross-tested, Top-hat and SERP), but also in plan administration (eligibility, enrollment, grandfathering impact, loan and withdrawal features, distribution options, etc.) and investment structure (number and type of investments).
For years, we have been staunch advocates for automatic enrollment, automatic increase and defaulting participants into equity-based investment portfolios. Many of our clients have benefited from auto-enrollment features for more than 10 years.
Our comprehensive review and follow-up analysis for 401(k) and non-qualified plans includes the following:
Plan Design: rewards philosophy, retirement sufficiency analysis, assessment of employer costs, expected employee behaviors, benchmark to industry peers
Plan Benefits: match (tiered or not), non-elective, combination, integrated, cross-tested, etc.
Plan Features: eligibility, eligible pay, automatic enrollment and increase, pre-tax & Roth 401(k) contributions, distribution options, loans, and withdrawals
Plan Administration: recordkeeper competency, services, service agreement and fees, confirm if any tasks should be in-sourced, out-sourced, or co-sourced
Compliance: Document review, Summary Plan Description (SPD) development, error-evaluation and correction (self-correction, VCP)
Investment Structure: compare current lineup to best practices
Investment Manager Review and Selection
Total Plan Expense Analysis: employer-paid vs. employee-paid; benchmark to peer group
Communication and Education: effectiveness of current approach/media
Benchmark Findings: Third Party studies relative to appropriate peer group and industry best practices