(k)are Retirement Network
Pooled Employer Plan (PEP)
Another way to serve your clients
Grow your retirement plan business without taking on the investment fiduciary role.
Whether you already advise retirement plans or have hesitated to enter the market because of the complexity and fiduciary responsibilities, the (k)are Retirement Network Pooled Employer Plan (PEP) offers another way to serve your business-owner and plan fiduciary clients.
Private Advisors Group’s PEP combines the investment management and fiduciary services of Advisor’s (k)are Solution (AKS) with the pooled plan provider, administrative fiduciary, trust, and recordkeeping services of Alerus. This coordinated structure allows you to offer clients a professionally supported 401(k) solution while focusing on client relationships and your broader wealth management practice.
Bring your existing retirement plan relationships. Pursue new business opportunities. Let AKS and Alerus handle their designated responsibilities.
What is a Pooled Employer Plan (PEP)?
A pooled employer plan (PEP) is a type of 401(k) plan that allows multiple unrelated employers to participate in a single retirement plan under a pooled plan provider.
The (k)are Retirement Network PEP brings participating employers and designated service providers together under one plan structure. By consolidating key services, the PEP is designed to simplify retirement plan management and provide access to professional investment management, fiduciary oversight, administration, and recordkeeping.
For advisors, this creates an opportunity to serve qualified plan clients with a retirement plan solution without having to independently manage the investment fiduciary function or build an extensive retirement plan service infrastructure.
Participating employers retain certain responsibilities under ERISA, including the prudent selection and monitoring of the PEP and its providers, as applicable.
A Clear Division of Responsibilities
The (k)are Retirement Network PEP brings together dedicated providers with defined roles, allowing you to focus on your clients while designated fiduciaries perform their respective functions.
Alerus | Pooled Plan Provider and Administrative Fiduciary
Advisor’s (k)are Solution (AKS) | Investment Fiduciary
You | Client Relationship and Business Development
Alerus serves as the pooled plan provider and provides ERISA Section 3(16) administrative fiduciary services, along with plan administration, trust, and recordkeeping services, as established in the applicable agreements. Increase efficiency with an integration to Standard of (k)are, LLC.
AKS serves as the designated ERISA Section 3(38) investment manager, responsible for selecting, monitoring, and managing the PEP’s investment lineup within the scope of its fiduciary appointment. They will also work with your client to provide breakroom services and point-in-time fiduciary advice.
As a non-fiduciary advisor within the program’s defined service model, you can focus on maintaining client relationships, introducing the PEP to business owners and plan fiduciary clients. You also choose an appropriate level of involvement in employer meetings and participant education, consistent with your agreed-upon responsibilities.
Bring Your Existing Business. Build New Opportunities.
An Additional Option for Your Current Retirement Plan Clients
If you already work with retirement plan clients, the PEP offers another structure to consider as you evaluate how best to serve them. You can explore transitioning eligible existing plans into the PEP, subject to the applicable requirements and transition process.
Rather than independently managing the investment fiduciary function, you can leverage AKS’s designated investment management role and Alerus’s administrative and recordkeeping capabilities.
An Entry Point for New Retirement Plan Business
Interested in working with business owners and plan fiduciary clients but reluctant to take on the complexity and fiduciary responsibilities associated with sponsoring or advising a retirement plan?
The (k)are Retirement Network PEP can provide a path to pursue those opportunities with dedicated retirement plan professionals supporting the program’s investment and administrative functions.
You can introduce the PEP to clients, strengthen existing relationships, and expand the services available through your practice without having to build the entire retirement plan infrastructure yourself.
Grow Your Wealth Management Practice
Retirement plans can create valuable connections between businesses and their employees. Those relationships may also create opportunities to support individuals with financial needs beyond their workplace retirement accounts.
Through participant education, advice, and engagement, individuals may identify a need for additional financial guidance. When appropriate, they will be connected with you to explore whether your wealth management services fit their needs.
One client’s relationship will open the door to serving an entire workforce.
The (k)are Retirement Network PEP helps you expand your retirement plan offering while creating opportunities to deepen client relationships and grow your wealth management practice.
Let's Work Together
Interested in learning more about the (k)are Retirement Network PEP, transitioning existing plans, or pursuing new retirement plan opportunities?
The (k)are Retirement Network PEP has its own service structure, participation requirements, and applicable fees, separate from the existing Standard of (k)are™ subscriber offerings. Contact us to learn more about advisor eligibility, service responsibilities, and the process for getting started.