Our 401K Philosophy
At Victory Fiduciary Consulting, as an independent Registered Investment Advisor (RIA) firm that is registered with the Securities and Exchange Commission (SEC), we have a fundamental obligation to provide suitable investment advice and always act in the best interest of our clients.
In addition, as Employee Retirement Income Securities Act of 1974 (ERISA) 3(21) and 3(38) fiduciary advisors, we implement the 401k Best Practices of ERISA. We also follow the 401k investment philosophy guidelines recommended by the Department of Labor guidelines in regard to sound retirement planning in the following key areas:
We believe in matching the investor with the appropriate investment model to suit their retirement needs. We offer six, passively managed investment models, ranging from conservative to aggressive. We review all available and appropriate investment options, including individual investment or service options. Then we conduct a comprehensive life assessment of every client. We factor in the client’s age demographic, dependents, living expenses, lifestyle, current income, and projected income to provide investment recommendations that are tailored to their needs and long-term retirement goals.
Documentation of all Related Fees:
Investment fees and expenses can eat away at your hard-earned investments, impacting your growth and overall retirement income. Higher investment management fees do not necessitate higher plan performance. At Victory Asset Management, as fiduciary advisors, we benchmark our fees to ensure reasonable fees and services. We operate with transparency by implementing a low-fee and cost-effective investment philosophy. We enforce an Investment Policy Statement with every client to clearly delineate and document all plan, investment selection and fee information in writing, prior to beginning an advisor/client business relationship.
We believe in the adage that knowledge is power. We strongly encourage and actively advocate that our clients arm themselves with investment knowledge that will empower them to make informed decisions. We provide our Plan Sponsors with group investment education seminars for their 401k plan participants and offer one-on-one meetings to our private investors who wish to learn more about their individual investment and retirement options. For added accessibility to investment information, we offer an online, interactive employee engagement and enrollment investment tool; a YouTube channel with a series of tutorial videos, and an 800 phone number.
Minimizing risk is our first priority and focal point of our client asset management strategy. We make investment recommendations with long-term investment and lifetime earnings for our clients. We monitor all client investment options and service providers to minimize investment risk. We utilize fi360, a leading industry fund monitoring software program to track fund positions. We provide flash reports to alert significant changes of client investments and provide appropriate investment recommendations.