Transitioning a retirement plan can feel overwhelming, but at Beese Fulmer Private Wealth Management, our process is designed to simplify the experience. Through a dedicated transition team, carefully selected partners, and a refined approach, we ensure that hiring us is easier and more reliable than previous experiences. Unlike bundled services that can introduce conflicts of interest, our approach is entirely conflict-free and transparent, utilizing an open architecture to drive down costs and deliver better outcomes for our clients. As a 3(38) fiduciary, we take on full responsibility for investment selection, relieving business owners and executives of the risk associated with these critical decisions.

Key Steps in Our Streamlined Process

1. Tailored Transition Strategy

We begin every transition with a personalized assessment of your current retirement plan. Our objective is to understand your unique needs, participant demographics, and long-term objectives. This custom approach allows us to create a clear and realistic timeline, establish milestones, and assign roles to ensure a smooth transition from start to finish. Unlike bundled solutions, we tailor each strategy, focusing on what matters most to your business and ensuring transparency at every stage.

2. Select Partnerships & Service Excellence

Our partnerships with top TPAs and recordkeepers are founded on competitive pricing and tailored service standards. We avoid the limitations of bundled services by working with open-architecture providers, ensuring that you receive the best-in-class solutions. As a 3(38) fiduciary, we have full discretion over the plan's investment choices, significantly reducing the compliance burden and risk for business owners. This fiduciary role means we adhere to the highest standards of conflict-free advice, prioritizing our clients' best interests.

3. Guidance for Decision-Makers & Their Staff

Once a decision is made, Beese Fulmer ensures that the hands-on effort for decision-makers and their staff is minimal. We provide a dedicated support team to guide every step, handling the administrative complexities and allowing staff to focus on their core responsibilities. Our transition team takes care of the details, ensuring a streamlined, low-effort process for your organization.

4. Efficient Data Transfer & Pre-Testing for Accuracy

Data integrity is critical in any retirement plan transition. Before transferring any information, providers conduct comprehensive pre-transfer testing to verify that participant data is accurate and complete. Providers’ advanced data management systems enable us to manage data migration securely and precisely, reducing the risk of errors. This proactive focus on accuracy sets a solid foundation for the new plan, avoiding common pitfalls.

5.Transparent Communication & Participant Education

Effective communication is a cornerstone of our approach. We maintain open lines with all stakeholders, offering regular updates through emails, and targeted workshops. By providing clear and concise information, we ensure participants are engaged and understand the benefits of the new plan. Our tailored workshops address specific participant concerns, making the transition smooth and stress-free.

6. Proactive Compliance Oversight & Long-Term Support

Compliance is a priority at Beese Fulmer. As a 3(38) fiduciary, we take on the full responsibility of selecting and monitoring the plan's investments, removing the legal and financial risks that often fall on business owners. Our specialists and providers perform detailed pre-transition audits of plan documents to ensure all legal requirements are met, reducing the likelihood of compliance issues later. After the transition, we continue to offer support, conducting regular reviews to monitor plan performance and address any potential challenges. This commitment to proactive oversight and ongoing assistance builds confidence and reinforces our role as a trusted, conflict-free partner.

A Proven, Transparent Approach to Simplified Transitions

By blending our refined process with strategic provider partnerships and a dedicated transition team, Beese Fulmer transforms a traditionally complex task into a more manageable experience. Decision-makers can trust that their staff will receive all the guidance needed, minimizing their involvement and effort. Our conflict-free and transparent approach, driven by open architecture and our role as a 3(38) fiduciary, simplifies investment decisions and reduces compliance risk—making the transition easier than many clients anticipate and ensuring that your new retirement plan is set up for long-term success.

Contact us today to learn how Beese Fulmer can make your next retirement plan transition seamless, transparent, and conflict-free.