Many professionals are being charged multiple fees for the handling of their 401(k) plans, doctors included. Thankfully, one financial advisor has introduced a service that can save you thousands annually.
Like other high-income earners, doctors are being charged the most for the management of their 401(k) plans. If you want to reduce these fees significantly, schedule a check-up with this financial expert.
SK Capital Wealth Management (SK Capital), an independent financial advisory firm in Anaheim, has introduced a pension planning service targeted at physicians. It is designed to address the issue of high fees that are being charged by many 401(k) plan managers.
Go to https://www.skcapitalwealth.com for more details.
The newly announced offering can help you reduce the amount you're paying for 401(k) administration. This is essential as many in the medical field are unknowingly compensating numerous third-party entities that are involved in managing their assets.
Unlike other providers, SK Capital deals only with Charles Schwab, which is an all-inclusive financial services company. Working with a company with vast capabilities eliminates the need for outsourced custodians, who further add to the total cost.
The company also specializes in risk management. It can promptly inform you of any risk that could affect your portfolio and formulate the appropriate mitigation strategies for you. Moreover, it can provide reports on investment performance and other areas of improvement.
Collectively, these services can reduce your management fees by as much as 50% annually, which could translate to thousands of dollars over the span of your career.
Despite enjoying higher-than-average salaries, some doctors retire with a net worth under a million dollars. If you have no retirement plans yet, you can take advantage of the company’s specialized service to make sure you achieve your income goals once you stop practicing.
Established by a fiduciary, SK Capital has a legal responsibility to act with the best interest of its clients in mind. Its fee-only business model guarantees you that the firm is not receiving a commission for its advice.
A Business Insider report stated that most account management fees may seem small at first but could cost hundreds of thousands in the long run. Unfortunately, only a small percentage of Americans are aware of these charges.
According to SK Capital, most of the fees being collected by third parties are deducted from your assets, eating away at your yields. “With an advisor-run plan, you can bring down the costs lower,” it said on its website.
Go with a pension planning expert that considers your entire financial picture. Start building a brighter financial future by booking a free consultation today!
You can visit https://www.skcapitalwealth.com if you want to know more!
