Retirement plan

PHOENIX WEALTH ADVISORS, INC. 401(K) PROFIT SHARING PLAN

Name: PHOENIX WEALTH ADVISORS, INC. - PHOENIX WEALTH ADVISORS, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: PHOENIX WEALTH ADVISORS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHOENIX WEALTH ADVISORS, INC. 401(K) PROFIT SHARING PLAN, PHOENIX WEALTH ADVISORS, INC.

PHOENIX WEALTH ADVISORS, INC.EIN 56-1598168Plan #002PY 2019

100 EUROPA DRIVE, SUITE 390 - CHAPEL HILL, NC 27517919-929-4448pfinx.comLinkedIn1-10 employeesfinancial services

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$3.1M

+24.4% from 2018

Total participants

+28.6% from 2018

Average account balance

$342,142

-3.2% from 2018

Annual return

19.85%

+24.33 pp from 2018

Benchmarks

See 31,991 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort31,991 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.84M

Not enough data

1 years with asset history on file

Average account balance

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

$427K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$263K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$33K

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

+9.78%

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 codes2E2G2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$63K

$8966 / participant

Other / not subdivided$63K100.0%

% of EOY assets

2.038%

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

$342,142

$183,988+86.0%

$162,177+111.0%

$152,897+123.8%

Participation rate

100.0%

88.5%+11.5pp

87.6%+12.4pp

82.5%+17.5pp

Annual return

19.85%

150.79%-130.9pp

115.60%-95.8pp

345.43%-325.6pp

Employer contribution / active EE

$14,615

$6,370+129.4%

$5,613+160.4%

$4,764+206.8%

Participant deferral / active EE

$9,906

$8,032+23.3%

$7,297+35.8%

$5,851+69.3%

Admin fee / account holder

$6,974

$13,123-46.9%

$10,843-35.7%

$11,599-39.9%

PHOENIX WEALTH ADVISORS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHOENIX WEALTH ADVISORS, INC. 401(K) PROFIT SHARING 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