Michael T. Prus

Jory,

You don't necessarily have to choose between 'low-cost/do-it-yourself' and 'high-cost/adviser involved.' My firm offers plans where we share fiduciary responsibility and I've yet to see any firm provide a more cost effective plan than us (including many that don't even offer education or fiduciary services). I'd be happy to run a proposal for you so that you can compare for yourself or to be a sounding board to help you choose. We'd love your business (obviously) but we're most interested in doing right by investors and if that means using our network to help you find an adviser locally we're happy to help in that way too.

Mike

Matilda,

While I agree with many of the above posters about starting with a local RIA, keep in mind not all RIA's are created equal. Some only dabble in 401(k) plans and may not understand them as well as they maybe should. Additionally, just because someone is an RIA does not necessarily mean they are reasonably priced. Compare and contrast costs and services to determine which is most appropriate and provides the services you need. Also ask them about their investment selection and replacement process. This is important because many tout having only top quartile funds, which leads to frequent manager changes and often 'selling' of managers (funds) when they under-perform (selling low) and replacing them with ones that have recently out-performed (buying high).

Mike

Hi Julianne,

By 'top funds' do you mean most popular or best returning? Please keep in mind that neither size/frequency of use nor performance necessarily dictate that the funds are appropriate for your plan, or would, for that matter, work well with one another.

Mike