By: Michael J. Searcy
When a law firm was told they needed to pay $40,000 into their cash balance plan to cover a non-highly compensated individual, they decided a financial second opinion might be beneficial. After meeting with an advisor that helped interpret the language they didn't understand from their actuary, they knew their second opinion request had paid off. They discovered they could classify the employee in a more appropriate way and need only fund about $2,000 to the plan!
Getting a financial second opinion could be one of the most important financial decisions you make this year. Sometimes the findings can solidify the fact that your current advisor is doing a great job, giving you peace of mind about the advisor you have chosen.