Employer Retirement Plans.
✔ COMPANIES BOTH LARGE AND SMALL
✗ SET-UP FEES
✗ HIDDEN COSTS
✗ CANCELLATION RESTRICTIONS
Quartz Partners provides a comprehensive 401(k) that prioritizes fiduciary excellence, limits employer liability and focuses on cost efficiency. See why our retirement plans are refreshingly different.
All the heavy lifting is taken care of when it comes to converting your plan from your current provider (plan design, employee onboarding, administration, recordkeeping, compliance, and investments. Everyone has access to an intuitive and mobile friendly online platform that delivers information dynamically and implements changes quickly when decisions are made.
Our goal is simple; maximize dollars contributed. It's no secret that retirement plan fees reduce the benefits available to employees whether they are paid by the employer or imbedded within the plans mutual funds expense. Our plans are built from the ground up to cost less ensuring that each dollar is allocated efficiently in an effort to improve employee retirement outcomes.
In FY 2018 the DOL recouped over $1.5 billion through fines and other corrective measures. Having a plan advisor serving as a 3(38) fiduciary, shields the employer from liability for prudently selecting and monitoring the plans investment options. Less than 5% of investment advisors offer a CEFEX certified 3(38) fiduciary service, putting Quartz Partners in a select group. Click below to learn about the proliferation of 401(k) lawsuits and how the difference between hiring a 3(21) investment advisor and a 3(38) investment manager can have a significant impact on an employers liabilities.
Utilizing a rigorous and repeatable due diligence process we select a diversified and cost effective mutual fund lineup with an average expense ratio of 0.15%. Employees have the freedom to chose how they investment. Quartz's investment team can help employees by providing advice or managing their 401k assets in one of our custom portfolios.
Hiring The Right Provider
Fiduciary to your plan & employees
Consultant or Sales Person?
Many financial professionals masquerade as a part-time "401k advisor" while selling a myriad of other financial products and insurance to retail clients. Surprisingly, very few specialize in 401k's, have a legal obligation to assume liability for selecting and monitoring a retirement plans mutual fund lineup for performance, fees and suitability. Leaving many employers asking, "What is the plans financial professional being paid for?" Likely, not for 401k consulting advice but rather they are being paid by a retirement plan provider to recommend and sell their retirement plan product. Click here to view a report on vs. 401k providers and investment advisors.
Fortunately there are firms like Quartz Partners. As a CEFEX certified SEC registered investment adviser, Quartz Partners separates itself from over 95% of investment advisors. And as a fiduciary we are legally required to act in our clients best interest. Quartz Partners assumes the liability ensuring plan fees are fair and for selecting and monitoring a retirement plans mutual fund lineup.
High Fees Increase Employer Liability
Small Fees. Big Impact.
Retirement plan fees are a lurking employer liability. Those paying excessive fees are are easily identified and can be targeted by the Department of Labor and in civil litigators. Luckily, understanding, identifying high fees and taking steps to reduce them is pretty straight forward. Quartz takes plan fees seriously, we look to lower existing plan fees by 20% to 40% when possible.
Has your 401(k) provider been
subject to a lawsuit for excessive fees?
Fee Reduction Improving Retirement Outcomes
$221,857 more saved.
Retirement income increased by $11,000 per year!
Plan X Fees 1.00%
Plan Y Fees 0.75%
Reducing plan investment and administrative fees by as little as 0.25% per year can increase retirement savings by over $221,857 over the course of an employee's 40-year career! At a 5% distribution rate an employee's retirement income can be increased by over $11,000 each year!
This illustration assumes a yearly contribution of $15,000 with gross annualized investment performance of 8%.
Paying Too Much? National Average Plan Cost by plan assets
Plan Fees as a Percentage of Plan Assets
$1 million or less
$1 to $2.5 million
$2.5 to $5million
$5 to $10 million
$10 to $20 million
$20 to $50 million
$50 to $100 million
Fees based on average number of participants, actual plan fees may differ based on the number of participants.
Pricing information provided by 401K AVERAGES BOOK 19TH EDITION based on an average participant balance of $100,000.
Understanding Plan Fees. The Four Horseman
The mutual funds in a plan have an internal expense which is deducted daily from the mutual funds share price. Often mutual fund fees are used to offset other plan fees (e.g., Recordkeeping, administration, financial professional). Fees are expressed as a percentage of assets.
Record Keeping + Custody
Record Keeping handles the daily servicing needs of a plan from employee onboarding, distributions, loans, to statements. Recordkeeping fees are typically broken down into a base fee plus a per participant fee. Custody fees are expressed as a percentage of assets.
Third Party Administration
Third Party Administration often referred to as "TPA's" take care of many of the regulatory requirements of a plan from form 5500 prep, drafting plan documents, to participant disclosures. Third Party Administration fees are typically broken down into a base fee plus a per participant fee.
Financial Professional or Advisor
Financial Professionals are often sales people recommending & selling various financial products, from 401k's to life insurance. Advisors on the other hand typically serve as a consultant to the plan and act as a fiduciary. Regardless, fees for both are expressed as a percentage of assets.
End to End Solution
Maximize Contributions. Minimize Cost + Administration
Our goal is to take out the guesswork and help implement a plan quickly and seamlessly. Whether your plan is a 401k, 403b, 457, Multi-Employer, Simple IRA or Pension, successful plans are cost effective, mitigate fiduciary liability and allow employers to focus on what matters most; your organization and employees. An online mobile friendly platform will allow you to take action quickly, where ever you find yourself 24/7. As always, support is only a phone call away.
Phone & Email Service
Distributions + Loans
Employee Notices + Disclosures
ERISA 3(38) Fiduciary Protection
Custom Investment Portfolios
Investment Policy Statement
Mutual Fund Selection
Monitor Plan Fees
Empower the Way Employees Invest
Innovative Investment Menu
Quartz Partners seasoned investment team curates a fund menu from a universe of over 11,000 funds. The funds we select are monitored for performance, expenses and fit. The Quartz investment team can aide employees in which funds are appropriate for them or we can manage there investments in one of our custom portfolios.
3 Ways for Employees to Invest
1) DIY Portfolios | Low Cost Index Funds
We select a diversified list of over 20 passive index mutual funds for employees to build a portfolio of their own. Why low cost index funds? Over 80% of U.S. equity mutual funds failed to beat their benchmark over a 15-year period*. With an average expense ratio of 0.15% the index mutual funds we use are over 50% more cost efficient than the national average*.
2) Pick Your Retirement Date | Target Date Funds
As a single mutual fund solution, target date mutual funds hold a mix of stocks, bonds, and other investments. Over time, the mix gradually shifts assets from stocks to bonds. Target date funds are designed to be long-term investments for individuals with particular retirement dates in mind.
3) Portfolios that Evolve | Quartz adaptCORE Portfolios
Quartz Partners' adaptCORE portfolios are driven by our firm philosophy: the key to long-term investment growth is a tactical approach that seeks high total returns with a vigilant commitment to downside risk management. Designed for employees looking for someone to monitor investments continuous and automatically adjust investment allocations as investment conditions change. Our adaptCORE Portfolio Series combine multiple Quartz Partners Strategies into a single portfolio. With options ranging from conservative growth to aggressive growth, adaptCORE makes it easy to find the right mix of tactical portfolios.
Let Us Do the Heavy Lifting
1. Contact Us
Submit an information request > to help us get started. You can also call us at 800.433.0422, Option 1 or email firstname.lastname@example.org.
2. We'll Send You Information
Quartz will provide and walk you through a comparison of your existing plan vs. Quartz's plan showing fees, plan features and any immediate areas where we think the plan could be improved; investment choices, compliance issues or plan design.
3. Complete + Sign
Review our agreement, ask questions, then sign our consulting agreement electronically or hard copy when you are ready. Opt out any time. No contract period.Quartz doesn't charge cancellation penalties or
4. Plan Design + Review
We will evaluate your existing plan documents to determine any areas that need updating or improvement.
We'll do the heavy lifting and work behind the scenes to seamlessly convert your plan over to our platform and provide notification of changes to employees.
Ready to get started?
Fill out our Information Request Form and we will be in touch with you shortly.
Quartz Partners acknowledges that certain services that it may perform under the Agreement constitute the provision of investment advice to the Plan for compensation and, as a consequence, is a “fiduciary” as such term is defined under Section 3(21)(A) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Quartz Partners acknowledges and agrees that they: a. Have no responsibility to and will not (i) exercise any discretionary authority or discretionary control respecting management of the Plan, (ii) exercise any authority or control respecting management or disposition of assets of the Plan, or (iii) have any discretionary authority or discretionary responsibility in the administration of the Plan or interpretation of the Plan documents, and b. Unless appointed by the Sponsor and accepted by the Firm re not an “investment manager” as defined in Section 3(38) of ERISA and do not have the power to manage, acquire or dispose of any Plan assets. In performing its duties hereunder, Quartz Partners will act in a manner consistent with the requirements of a fiduciary under ERISA. Accordingly, Quartz Partners acknowledges that the sole standard of care imposed on them and their agents hereunder is to act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent investor acting in a like capacity would use. This proposal should not be construed as investment advice. Quartz does not provide tax or legal advice. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. The plan sponsor should consult their legal and tax advisors regarding all tax and legal considerations with respect to the plan,, which are based upon ERISA, judicial decisions and Department of Labor regulations and rulings in existence on the date hereof. Further, neither Quartz Partners nor any investment adviser representative, solicitor, or other financial professional is (by virtue of this proposal or otherwise) a fiduciary with respect to your plan for purposes of ERISA or similar laws unless otherwise explicitly stated. *Source: Cerulli, U.S. Defined Contribution Distribution 2017: Re-valuating the Use of CITs in DC Plans. 2SOURCE: pg. 4 SPIVA U.S. Score Card S&P Dow Jones Indices LLC. Data as of June 2018.
Investors should carefully consider the underlying funds’ fees, expenses, objectives and risks carefully before investing. Quartz puts forth its best effort to achieve the objectives of its strategies. However, there is no guarantee that the objectives will be achieved. An Account's return and principal will fluctuate so that the Account, when redeemed, may be worth more or less than the amount in the Account at or subsequent to the effective date of the Investment Management Agreement. All results are expressed in US dollars and reflect reinvestment of dividends, capital gains, and other earnings as well as the deduction of trading or other expenses incurred. Performance reflects the gross return of the composite reduced by the maximum annual fee of 2%. Actual fees paid and performance may vary based on factors including account size, custodian, contributions and withdrawals, which may cause your returns to differ from those listed in this report. In particular, accounts held at variable annuities and/or fund families will have performance that frequently deviates from the listed data due to fees and investment options. Please contact Quartz or your custodian for your specific performance information. Investments in the strategies are subject to investment and manager risk, which carry the potential for a loss of principal. Tactical management strategies do not protect against losses in declining markets and there is no guarantee that the strategy performance will meet or exceed the listed benchmark. Quartz’s risk management process includes an effort to monitor and management risk, but should not be confused with and does not imply low risk. Risk tolerance objectives for the adaptCORE portfolios are over a full market cycle, defined as approximately 5-7 years, the Portfolios seek risk levels consistent with the stated risk profile. However, the underlying strategies’ focused investment approach may lead to extended market periods in which the portfolios may reflect a higher or lower risk profile.