SMALL BUSINESS & CORPORATIONS
SMALL BUSINESSES & CORPORATIONS
Lake Jericho works with employers that want to create and implement employer sponsored retirement benefits plans that are truly a benefit to employees.
Large employers, those with fully staffed HR/Benefits departments, or with dedicated business analyst resources, can rely on in-house resources, independent consulting firms, or engage top-tier independent financial firms, to survey market options, perform thorough analyses, and arrive at fully informed decisions. Large employers are able to demand transparent, scale-driven, cost-effective solutions from providers-of-choice.
Small employers, with limited staff and financial resources, often turn to their local broker for help. As a result, the trend in small employer sponsored retirement benefit plans has been towards “one-stop shops”. In these “broker sold” arrangements, employer sponsored retirement benefit plans are typically built entirely upon a single bank, mutual fund family, or insurance company platform. Think of it as the “Plan in a Box” approach.
Employers, both large and small, seeking to avoid benefit expenses themselves, are often led to offer otherwise expensive plans to employees. With one-stop-shop arrangements, employers offer a perceived “benefit” that costs them nothing, but the employees in reality are burdened with expensive, opaque, arrangements that erode the benefits of long-term savings and investment.
Lake Jericho was founded as a fiduciary advisory firm. We act as a fiduciary, without exception, at all times, with all clients. This foundation of trust, and of confidence in our primary objective to meet client needs first, is the cornerstone of why Lake Jericho was founded, and of how we go about our business each day.
Consistent with its fiduciary duty, Lake Jericho’s focus in the employee retirement benefit plan arena is exclusively on transparent, independent, unbiased solutions that balance the employer’s needs with its fiduciary obligation to participants.
Our “product”, if you will, is our partnership with plan sponsors, wherein Lake Jericho serves as co-fiduciary. We measure success by bringing together top-tier, independent service providers, to create best-in-class benefit plans, offered by employers of choice, to their highly skilled employees, in an increasingly competitive environment for talent.