A brand-new partnership model for financial advisors and broker-dealers
Boise, Idaho – April 17, 2023 – Today, Freedom Fiduciaries™ officially announced the creation of Bac(k) Office, a brand-new solution, where the firm partners with other financial advisors and broker-dealers to help enhance service for their plan sponsors, and participants.
In this model, Freedom Fiduciaries™ not only signs on as the ERISA 3(38) fiduciary, but also handles the day-to-day minutia of a retirement plan like service issues, resolutions, payroll consulting, and plan design discussions. This alliance allows the advisor partner to remain the face of the relationship and focus on their primary business initiatives, like wealth management, financial planning, and insurance.
Industry veteran and Wise Rhino’s CEO, Dick Darian, adds, “Over the past decade, the retirement plan industry has evolved and now demands a specific skill set from retirement plan specialists. The need for a robust back-office solution has never been greater and will only increase as the industry becomes more specialized and complex. Freedom Fiduciaries has developed a model that supports advisors by providing a high level of specialist service, while assisting them in strengthening their relationships, and focusing on their wealth management or ancillary services business.”
In addition to the day-to-day servicing of a retirement plan, Freedom Fiduciaries™ has also invested in technology to help their advisor partners maximize their relationship with plan participants. This includes ParticipantIQ which is an engagement engine that personally communicates with participants throughout their career to build a relationship, a personalized website for plan participants and a money-in-motion report, which streamlines the data extract process within the recordkeeper, so the partner advisor can assist terminated participants with their options outside of the plan.
“We’re excited to bring a new partnership model and experience to the retirement plan industry,” said Shane Hanson, CEO of Freedom Fiduciaries™. “Our focus on financial freedom for participants and fiduciary freedom™ for our plan sponsors is what drives us. We believe that in partnership with other advisors, we can best serve plan sponsors and participants alike.”
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For more information on Bac(k) Office: www.freedomfiduciaries.com/back-office