Filed March 25, 2025
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| Provider | Service type | Compensation |
|---|---|---|
PROVENANCE WEALTH ADVISORS2 years Filed as: PROVENANCE WEALTH ADVISORS, LLC Service code 26 · EIN 65-0978008 | Advisory (Participants) | $30,821 |
Service code 15 · EIN 01-0233346 | Recordkeeping | $4,431 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $54,947 | $73,459-25.2% | $178,528-69.2% | $74,429-26.2% |
| Participation rate | 63.4% | 66.5%-3.1pp | 77.1%-13.7pp | 67.2%-3.8pp |
| Annual return | 11.67% | 17.50%-5.8pp | 27.11%-15.4pp | 1368.38%-1356.7pp |
| Employer contribution / active EE | $492 | $2,219-77.8% | $3,950-87.5% | $2,625-81.3% |
| Participant deferral / active EE | $3,400 | $4,515-24.7% | $6,278-45.9% | $4,348-21.8% |
| Admin fee / account holder | $377 | $1,812-79.2% | $10,419-96.4% | $1,944-80.6% |