Decimal Creates Flexible, Simple Path for RIAs to Grow Assets with 401(k)s for Small Businesses

Decimal’s The Online 401(k) ends search for small business 401(k)s

SAN FRANCISCO (January 18, 2006) – Decimal, Inc., (www.theonline401k.com) the leading provider of 401(k) plans for small and single-person businesses has provided registered investment advisors (RIAs) with a new way to build their businesses.

RIAs, who usually work on a fee-for-service model, see 401(k)s as a perfect fit to build their business or to strengthen their relationship with current clients. The problem? For RIAs with small business clients, the search for a 401(k) plan can be fruitless, as most 401(k) providers rely on asset-based fees and are only interested in larger companies with larger pools of assets. And to make matters worse, many 401(k) providers require advisors to use only certain fund families, hampering the ability of RIAs to provide truly objective investment advice. 

Decimal understands those pains and addresses these concerns for RIAs. Its 401(k) solutions, The Online 401(k) and Single(k) do not carry any asset-based fees for recordkeeping or administration services.  Most importantly, Decimal does not have any minimum requirements for plans. 
RIAs find this appealing and much easier to sell to their clients.

Decimal’s program, the Road to Retirement Network, works with independent financial advisors to use 401(k) plans to help build their businesses. Decimal’s small business 401(k) solution, The Online 401(k) specializes in small plans; and allows advisors to manage the investments for a 401(k) plan with little restriction in terms of the investments used.

Decimal also provides numerous tools, including customized marketing materials and proposals that will help advisors not only help manage these plans, but will also help them win business.

One of The Online 401(k)’s RIA partners, Jim Everett, president of Jim Everett Company in Rancho Santa Margherita, CA says, “Two of the most important criteria are having clearly laid out fees and a plan for building wealth. Offering a 401(k) comes with a level of fiduciary liability and many clients rely on RIAs to help them minimize this risk. There is no conflict of interest with The Online 401(k): they handle the administration and recordkeeping for a fully disclosed monthly flat fee; and our firm designs and implements the investment management program. Our clients appreciate this simplicity. We add value because our focus is on building assets in their 401(k)s with a target of above market returns.”

Chad Parks, CFP^® and CEO of Decimal says “We are very pleased to work with RIAs like Jim Everett. It shows that advisors and unbiased 401(k) plans like The Online 401(k) were meant to go together: Advisors are able to design an investment platform that best suits their clients’ needs, and they are able to be the most visible part of the plan through enrollment meetings and close monitoring of the plan’s activities.”

About Decimal, Inc.
For more information on Decimal’s programs for advisors and The Online 401(k), please visit www.startup401k.com. Advisors interested in learning more about The Online 401(k) can request a quote for clients at www.startup401k.com and automatically receive a customized proposal via e-mail.  Decimal offers a wide variety of investments to choose from; and employees access 401(k) and investment education, select their investments and manage their individual 401(k) accounts – all from the convenience of their desktop.

E-mail us at press@theonline401k.com
or call us at 877.775.401k.