Retirement plan

SUMMIT WEALTH GROUP 401(K) PLAN

Name: SUMMIT WEALTH GROUP, LLC - SUMMIT WEALTH GROUP 401(K) PLAN (2017) Form 5500
Creator: SUMMIT WEALTH GROUP, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT WEALTH GROUP 401(K) PLAN, SUMMIT WEALTH GROUP, LLC

SUMMIT WEALTH GROUP, LLCEIN 20-0402320Plan #001PY 2017

205 BILLINGS FARM RD. STE. 2A - WHITE RIVER JUNCTION, VT 05001802-295-5300summitwg.comLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.2M

+44.4% from 2016

Total participants

+7.7% from 2016

Average account balance

$87,406

+23.8% from 2016

Annual return

21.54%

+11.87 pp from 2016

Benchmarks

See 30,802 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,802 peers

Snapshot2017

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$7.24M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$658K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$325K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$30K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+19.07%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3B3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$21K

$1866 / participant

Other / not subdivided$21K100.0%

% of EOY assets

1.678%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,406

$171,867-49.1%

$149,721-41.6%

$147,586-40.8%

Participation rate

100.0%

88.2%+11.8pp

87.1%+12.9pp

82.8%+17.2pp

Annual return

21.54%

2113.36%-2091.8pp

1501.67%-1480.1pp

578.59%-557.0pp

Employer contribution / active EE

$9,227

$6,275+47.0%

$5,444+69.5%

$4,876+89.2%

Participant deferral / active EE

$9,573

$7,270+31.7%

$6,568+45.7%

$5,439+76.0%

Admin fee / account holder

$1,466

$13,799-89.4%

$11,282-87.0%

$10,886-86.5%

SUMMIT WEALTH GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT WEALTH GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion