Damian Dufour, Managing Director“At FBG, each team member holds equity and dedicates equal energy, time, and commitment to retirement plan participants across all organizational levels, from high-ranking executives to minimum-wage employees,” states Damian Dufour, Managing Director of Fiduciary Benefits Group.
The firm assists employers in the administration and management of employee retirement plans. Its distinctiveness lies in extending institutional services typically reserved for large, multi-million-dollar corporations to smaller entities. The company’s services include comprehensive financial planning, facilitated by a certified financial planner assigned to each plan, and accessible through one-on-one, on-site consultations and virtual Zoom meetings. The institutional services also include fiduciary duties and management of customized participant portfolios.
In 401(k) plans, FBG stands out from other consultants due to its emphasis on these customized portfolios. In contrast to the standard option of age-based target date funds, FBG provides professionally managed individual portfolios that are adjusted every quarter. This proactive approach guarantees that every participant receives personalized attention, expert management, and regular communication regarding market performance, its implications, and the tactical adjustments made on their behalf. FBG demonstrates its dedication to facilitating simplified retirement planning by adopting this hands-on strategy.
FBG’s comprehensive financial planning solutions extend beyond 401(k) plans and encompass other retirement plans like 403b and 457. Its well-designed plan structure facilitates tax efficiencies and reduces testing issues. Furthermore, FBG collaborates with reputable software companies such as Right Capital and trustandwill.com to make its services accessible with a click. It emerges as the only company from its industry in the US that covers the clients’ cost of estate planning on trustandwill.com.
Alongside retirement plan design, fiduciary governance, and management of customized participant portfolios, FBG leverages its proprietary investment monitoring system to provide investment due diligence. It enhances participant outcomes while assisting employers in managing risks and minimizing fiduciary exposure. The company also offers free inspection services, which aid employers in optimizing their retirement investments. In addition, the firm provides bilingual workplace financial education, empowering employees and employers to achieve better retirement planning.
Several clients attest to FBG’s success, including Sarah, a 62-year-old retiree who approached the company intending to purchase an annuity. The firm thoroughly examined the client’s financial situation, considering her retirement savings, income sources, expenses, and future objectives. Through personalized education, FBG enlightened Sarah on the nuances of annuities, emphasizing the high fees, limited liquidity, and surrender charges associated with annuity purchases. As she better understood the options available, FBG presented alternative income strategies such as diversified investment portfolios, dividend-paying stocks, and other income-generating assets. These strategies offered a better balance of steady income and growth potential, aligning better with the client’s financial goals. By skipping the unsuitable annuity purchase, Sarah experienced a significant sense of financial security, as her retirement savings were optimally allocated to provide her with a stable income stream.
At FBG, each team member holds equity and dedicates equal energy, time, and commitment to retirement plan participants across all organizational levels, from high-ranking executives to minimum-wage employees
Besides its services, FBG distinguishes itself from its contemporaries through its inclusivity in client engagement. A similar approach resonates within the company, where each team member has an equity stake. Subsequently, the team caters to individuals at all levels of an organization’s hierarchy, including C-suite executives and minimum-wage employees. This democratic approach to client service contributes to FBG’s unrivaled reputation in consulting and financial planning.
In a time when accountability holds significant value all across the business landscape, the FBG team distinguishes itself through its unwavering dedication to being accountable to clients. The company has transformed the retirement experience from a labyrinth of complexities into a streamlined process accessible through a simple phone call. Through its steadfast commitment, FBG establishes itself as a reliable partner in navigating every aspect of retirement planning.
