Each Advisor and each small business comes to us with unique needs and that's why we don't believe in “one size fits all”!
Meet some of our Advisors and small business clients and find out how The Online 401(k) has answered their needs.
ADVISOR SUCCESS STORIES
5 Questions with a Financial Advisor
Advisor Name: Randy Breaux
Firm Name: USI Holdings Corporation
Firm Location: Briarcliff Manor, NY
Randy Breaux has been working with USI Holdings Corporation since the beginning, for the past 12 years as an Employee Benefits producer. His firm's service offerings include 401(k) and 403(b) plans in addition to the complete benefits package for firms of 25 to 500 employees. He has been successfully working in the Employee Benefits arena for more than 30 years.
We sat down with Randy Breaux to find how The Online 401(k) has been able to meet his needs.
Randy, tell us a little bit about your firm
USI Holdings Corporation is a diversified firm specializing in customized solutions for business clients. With a single-minded commitment to quality and service, we specialize in fully integrated delivery of general and specialty property and casualty insurance and insurance-related financial services.
How did you hear about The Online 401(k)?
I have been working with Marc Fowler (The Online 401(k)'s VP of National Sales & Distribution) on 401(k) business for about the past 10 years at various firms he represented and he discussed The Online 401(k) opportunity before he decided to take their top marketing position. It sounded like a great niche to be filled; a total online solution providing 401(k) plans to start-up businesses with a transparent cost structure and great flexibility in investment options! A multi-fund family program with zero asset charges for the small employer - what a concept!
Why The Online 401(k)?
What you see is what you get! Simplicity, economy and quality say it all.
CLIENT SUCCESS STORIES
We think that working with small businesses to find the right solution is always a fun challenge!
Cost Splitting at Skura Ltd.
We at Skura Ltd. (www.skura.com) decided to go with The Online 401(k) for a couple of reasons. First, our employees were asking for the plan. And secondly, we employ very high-end, high-paid employees to do consulting for us and whatever we can do to draw them in, we want to do. Many of our customers are in the US so we want to employ Americans. We understand that 401(k)s are very imperative to them and that’s why we went ahead and did it.
Since the 401(k) plans are administered pretty much by the employees themselves and they can direct their own dollars were very important to us, considering we’re in Canada and 401(k)s are foreign (we don’t have a 401k plan up here). It was good that people could control their money to wherever they want it, plus it could be administered very simply here in Canada and it can all be done online and the price was important too.
No help was used with a 401(k) advisor in my decision making process. I compared The Online 401(k) to three other providers; one provider was a bank, which was more labor intensive which was not what I was looking for. The top three criteria in selecting The Online 401(k) for us were: monthly administrative charges; flexibility; and having a great variety of options to invest, we wanted a diverse selection to offer to our employees.
Being set up with the Online Plan Design process was very simple. Eddie is like a king to me, he was excellent from day one, he gave me more service than he should have ever done, he was really great.
It really helps to see the Online Plan Design process on the computer screen while you’re on the phone being verbally walked through. If it was on hard copy it would’ve been difficult. The ease of everything is because it’s all online, that’s key for us. As soon as the employees logged in, they had no problems setting up their plan. I had no questions from them.
What I like best about being an administrant of The Online 401(k) is that I can go in and add people whenever I want; I can print reports anytime I want; and my payments are easy to make. It’s all very simple. Our employees travel a lot and because it’s online they can do it from their hotel rooms, from their homes, they can do it wherever they are.
Adding to Benefits at Whitestone Tec Inc.
Michele Pius works in the Accounting department of Whitestone Tec Inc. (www.whitestonetec.com), a software company that designs Web-based applications.
Whitestone Tec Inc. is a growing tech company that was looking for a 401(k) plan to provide another benefit to their existing employees. Being able to offer a 401(k) plan would also draw new employees and help the company stay competitive with other tech companies.
We sat down with Michele to find how The Online 401(k) has been able to meet her needs.
Michele, why did your company select The Online 401(k)?
We selected The Online 401(k) to be our 401(k) provider because their product and services met our criteria. We were looking for a plan that was easy to administer, one that would fit into our budget and also have solid investment choices. We liked the fact that The Online 401(k) was a Web-based application, it was easy to use and that it’s connected to Schwab. I liked the fact that the employees were able to setup their own plans. Those reasons gave us the confidence that The Online 401(k) is right choice for us.
How did you go about your search for a 401(k) provider?
Our search process was a combination of getting help from an advisor and doing our own research. Our advisor presented five different companies’ plans to us and after comparing them, it was easy to narrow them down to The Online 401(k).
Tell us about your plan setup process.
Setting up the plan was very easy. Eddie Galvani had met with our entire team over the phone and talked our employees through the Online Plan Design process. In the beginning I had a few questions and Eddie was quick to return phone calls and provided helpful answers to my questions.
What do you like best about working with The Online 401(k)?
As a plan sponsor, what I like best about working with The Online 401(k) is that when I process the payroll, it’s an easy point-and-click. I’m a participant too and I like that it’s simple to decide where you want your investments to go.
Many thanks to Michele Pius!
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