Retirement plan

ACORN WEALTH ADVISORS 401(K) PROFIT SHARING PLAN & TRUST

Name: ACORN WEALTH ADVISORS - ACORN WEALTH ADVISORS 401(K) PROFIT SHARING PLAN & TRUST (2022) Form 5500
Creator: ACORN WEALTH ADVISORS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACORN WEALTH ADVISORS 401(K) PROFIT SHARING PLAN & TRUST, ACORN WEALTH ADVISORS

ACORN WEALTH ADVISORSEIN 46-5640804Plan #001PY 2022

8305 S SAGINAW ST STE 2 - GRAND BLANC, MI 484391894810-953-5555acornwa.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$272K

No prior year

Total participants

No prior year

Average account balance

$68,074

No prior year

Annual return

-12.10%

No prior year

Benchmarks

See 35,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,209 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$73K

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

250.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+0.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$67170

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 codes2E2F2G2J2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$21K

$6895 / participant

Other / not subdivided$21K100.0%

% of EOY assets

7.597%

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

$68,074

$167,522-59.4%

$151,639-55.1%

$134,532-49.4%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-12.10%

7.81%-19.9pp

3.34%-15.4pp

418.27%-430.4pp

Employer contribution / active EE

$2,964

$6,828-56.6%

$6,165-51.9%

$4,741-37.5%

Participant deferral / active EE

$8,194

$8,986-8.8%

$8,363-2.0%

$6,401+28.0%

Admin fee / account holder

$5,171

$13,780-62.5%

$11,613-55.5%

$11,429-54.8%

ACORN WEALTH ADVISORS 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACORN WEALTH ADVISORS 401(K) PROFIT SHARING PLAN & TRUST

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