Why Ledgewood Partners
401k committees and administration can be a hassle and a source of personal risk and liabilities. During this Great Resignation, there has been a lot of turnover in benefits and finance staffing. The decision makers who sit on plan committees leave companies, and new committee members, are left holding the liability bag for prior employee’s decisions. ERISA suits are rampant and financial advisors that are too often relied upon have general investment expertise, but are not 401k plan experts (nor are most committee members). But, this risk can be minimized if you have a documented process.
Our goal is to minimize that risk, manage your retirement plan goals and make your daily administration easier.
Retirement Plan Governance
What will I do?
- Serve as a non-voting, non-fiduciary committee member of your retirement plan committee to help protect your interests and reduce your risk. This relationship is designed to be ongoing for the long term.
- Document your processes to protect against claims and liability. I will follow the best practices that I have seen as an expert witness. I will also help restate your old minutes, if necessary to create a continuity between my pre-engagement services and post-engagement services.
- If needed, write an investment policy statement and review calendar for investments, fees, service and other items.
- Provide you with a time series benchmark of your plans versus like sized plans. This remains the primary protection against litigation and participant claims. It will cover your class years. And it will be updated every year.
- Work in your location when your plan administrative staff is out (vacations, maternity, FMLA, etc.).
- Collaborate with your recordkeeper and administrative staff to streamline administrative tasks.
We are Mission Driven
I worked for Fidelity Investments for 24.5 years and retired in mid 2021. Shortly after that I began volunteer teaching financial concepts in Public schools and recognized that there is a lack of financial education available for young people today. I am determined to help bridge that gap. I will do this with my time and with my resources. A percentage of revenue will be donated to public schools for financial education. Of all the things that I wish I was taught in school; financial responsibility is at the top of that list. And I have a degree in Economics!
About me:
My name is Dylan Mosby. I have worked in the retirement plan services industry for over 25 years, 24.5 years at Fidelity Investments and am currently the Principal at Ledgewood Partners, a consulting firm. Throughout my career in the retirement plan services industry, I have held a variety of roles including sales, pricing, plan design consultation, relationship management, benchmarking, consultant relations, communications strategy and participant services.
In addition to these roles, I have continually consulted with plan sponsor clients, national consulting firms, and advisors on topics like pricing best practices and methodologies, administrative design, vendor performance and service team functionality. My practice is focused on plan benchmarking, administrative efficiency and pricing methodologies and differences (i.e., fixed-dollar pricing vs. asset-based pricing, as well as revenue sharing vs. non-revenue sharing investment lineups). In addition, I have also been assisting retirement plan committees and plan sponsors in evaluating their plan needs; reviewing plan investments and pricing; assisting plan sponsors in understanding the results of Requests for Proposals (“RFPs”), Requests for Information (“RFIs”), and various fee benchmarking studies; among other services at the request of plan sponsor clients.