Articles

A Better Alternative: Newport Group Helps Client and Advisor

Feb 15, 2017

Newport Group solutions offer better options for the client and its advisor.

Situation

Adequate service, limited options. This was the challenge faced by a well-established bio-technology firm and its advisor. The service the firm received from its record keeper—a local provider—was adequate. But it had little capacity to offer advisor managed models; limited sponsor and plan participant tools; and did not provide the advisor the opportunity to outsource his back-office work.

Solution

In partnership with the advisor, Newport Group took over the plan and met all of the requirements for both the advisor and client. Our solution included:
  • Custom target-date and risk-based model portfolios, managed by the advisor
  • A full suite of sponsor reporting tools
  • An easy-to-use participant website with insightful information and tools for participants

Outcome

The client selected Newport Group over two other national providers who did not meet the advisor’s needs for back-office outsourcing. In addition, the client now has a service provider that can not only meet its current needs, but can support the plan for years to come.

Fast Facts

  • Client: Bio-Tech Company
  • Plan Type: 401(k)
  • Plan Assets: $12.1 million
  • Plan Participants: 56
  • Flow: $700,000

How We Helped the Client

  • Deeper bench/resources
  • Reasonable pricing
  • Enhanced reporting tools
  • Powerful participant website

How We Helped Our Advisor Partner

  • Provided back-office support
  • Custom target-date and risk-based model portfolios managed by the advisor were included in fund lineup

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The information contained herein is for informational purposes only and does not constitute financial, legal or tax advice.

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Fiduciary consulting services are provided through Newport Group Securities, Inc., an SEC-registered investment adviser and FINRA-registered broker-dealer, and InterServ, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and InterServ, LLC are affiliates of Newport Group, Inc. All securities transactions are provided through Newport Group Securities, Inc., in its role as broker-dealer. All fiduciary consulting services are provided through the registered investment adviser. when offering variable insurance products, Newport Group Securities, Inc. acts solely in its capacity as a broker-dealer.
Trust and custody services provided by Newport Trust Company, a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc.