Retirement Resources

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Description

Founded in 1990, Retirement Resources is an SEC registered Investment Advisor. The firm specializes in improving the success of 401(k), 403(b), profit sharing and other institutional retirement plans. They help employees retire with greater security, while helping employers manage workload, costs and risk. They were early adopters of open investment architecture, full fee transparency and the use of ERISA accounts. The firm values creative thinking, problem solving, strong relationships, hard work and trust. Retirement Resources supports a variety of charitable causes. Retirement Resources follows a unique approach called the Retire With More ® Process, a system of fiduciary best practices designed to promote a better retirement outcome for employees.

Jim has been married for over 30 years, has two sons, and enjoys golf, yoga, boxing and vacations in Miami.

Patrick McGinn , Vice President of Retirement Resources, is a CFA charterholder and has been in the securities industry since 1993 and with Retirement Resources since 1994. He holds various securities registrations, and in addition to the Chartered Financial Analyst® designation, he is an Accredited Investment Fiduciary. McGinn is also a member of the CFA Institute and the Boston Security Analyst Society. Together with Jim Phillips, McGinn has co-authored a number of articles which have been published in industry publications on topics about managing successful 401(k) and 403(b) plans. McGinn has also been named to the 2012 list of Top 100 Retirement Plan Advisors, by PlanAdvisor Magazine and serves, with Phillips, as the advisor to the 2011 non-profit Plan Sponsor of the Year by Plan Sponsor Magazine. Phillips and McGinn were named Finalists in the 2012 Morningstar/ASPPA 401(k) Leadership Award. McGinn has been married for over 15 years, has two sons, and has run a number of marathons.

Our "elevator pitch": Because of our unique Retire With More ® Process and collaborative approach, more of your employees will retire with greater security than would otherwise be the case. We will accomplish this together, while carefully managing workload, costs and fiduciary risk. You will enjoy working with us, and you will sleep better at night knowing that your retirement plan is in good hands and in good shape.

Q. Who are the fiduciaries of your plan? A. This is one of the biggest misunderstandings we routinely encounter. Everyone who makes plan-level decisions is a fiduciary. The people who appoint those fiduciaries also have fiduciary responsibility. See Board Member best practices: A "heads-up" regarding the retirement plan responsibility chain." Being a fiduciary isn't a bad thing, if those individuals understand their responsibilities, liability, and their obligations to the plan's participants under the Employee Retirement Income Security Act of 1974 (ERISA). A seasoned advisor that accepts co-fiduciary status can help the plan's investment committee and other plan fiduciaries to navigate their responsibilities and excel on behalf of the plan participants. Q. I've got a "big logo" provider, aren't I all set? A. Ask them if they accept fiduciary status for your plan. If they don't, then they may be more interested in looking out for their own interests, and not necessarily yours and those of your plan participants. See PlanSponsor Magazine article, "Plan advice: All set? Maybe, maybe not!.

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