Retirement plan

SAVANTAGE FINANCIAL SERVICES, INC. 401(K) SAVINGS PLAN

Name: SAVANTAGE FINANCIAL SERVICES, INC. - SAVANTAGE FINANCIAL SERVICES, INC. 401(K) SAVINGS PLAN (2023) Form 5500
Creator: SAVANTAGE FINANCIAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAVANTAGE FINANCIAL SERVICES, INC. 401(K) SAVINGS PLAN, SAVANTAGE FINANCIAL SERVICES, INC.

SAVANTAGE FINANCIAL SERVICES, INC.EIN 36-3379794Plan #001PY 2023

2101 GAITHER ROAD SUITE 350 - ROCKVILLE, MD 20850301-258-5600LinkedIn51-200 employeesmanagement consulting

Prospect flagsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$34.4M

+23.8% from 2022

Total participants

152

+10.1% from 2022

Average account balance

$281,683

+17.8% from 2022

Annual return

18.34%

+34.27 pp from 2022

Benchmarks

See 6,231 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,231 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$41.00M

Not enough data

1 years with asset history on file

Average account balance

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

$315K

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.

130

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.

78.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+16.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$862

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES6 years Filed as: RAYMOND JAMES Service code 27 880 CARILLON PARKWAY · ST PETERSBURG, FL 33716	Advisory (Plan)	$45,056
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$22,718
APRIO LLP1 year Service code 10 5 CONCOURSE PKWY STE 1000 · ATLANTA, GA 30328	Accounting	$21,500
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$13,703

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3B

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$103K

$786 / participant

Recordkeeping$23K22.1%
Investment mgmt$59K57.1%
Other / not subdivided$22K20.9%

% of EOY assets

0.300%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: APRIO LLP
Auditor EIN: 571157523
Audit fees: $21,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$281,683

$91,439+208.1%

$135,974+107.2%

$71,511+293.9%

Participation rate

77.1%

75.7%+1.4pp

81.9%-4.8pp

67.9%+9.2pp

Annual return

18.34%

29.90%-11.6pp

68.30%-50.0pp

28.86%-10.5pp

Employer contribution / active EE

$3,085

$3,705-16.7%

$4,859-36.5%

$2,589+19.1%

Participant deferral / active EE

$12,434

$7,093+75.3%

$7,760+60.2%

$4,291+189.8%

Admin fee / account holder

$844

$1,267-33.4%

$10,767-92.2%

$1,588-46.9%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES6 years

Filed as: RAYMOND JAMES

Service code 27

880 CARILLON PARKWAY · ST PETERSBURG, FL 33716

Advisory (Plan)

$45,056

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$22,718

APRIO LLP1 year

Service code 10

5 CONCOURSE PKWY STE 1000 · ATLANTA, GA 30328

Accounting

$21,500

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$13,703

SAVANTAGE FINANCIAL SERVICES, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAVANTAGE FINANCIAL SERVICES, INC. 401(K) SAVINGS 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