Do you know what your business is worth? Do you have a succession plan in place should something unexpectedly happen to you? How will the sale of your business affect your retirement?
In addition, being able to offer a retirement plan can be a crucial ingredient in attracting and retaining employees. However, along with that benefit comes the responsibility for evaluating and managing the investment decisions for the plan assets. It’s important to protect yourself by following stringent fiduciary standards of objectivity. You need impartial evaluation of your asset allocation, investment opportunities and portfolio construction, while at the same time managing fees and extraneous costs.