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Heffernan Retirement Services - Because You're Different - San Francisco, CA


Call us at 800-437-0045

LPL Service Center (800) 558-7567

Expense Analyzer

Understanding Expenses

The one constant in the retirement plan industry is change. The new fee disclosure requirements under DOL section 408(b)(2) legislation, require 401(k) plan providers to disclose all fees so that workers saving for retirement can make more informed decisions about which plan is best for them. Currently, the varying level of fees is so complex that it is difficult for plan sponsors and fiduciaries to understand. In response to this, we provide access to a tool to help.

Expense Analyzer

Heffernan Financial Services has access to a proprietary Expense Analyzer tool. The Expense Analyzer is created with fee transparency in mind. Integrated with the Fiduciary Monitoring System, the Expense Analyzer produces a Fee Analysis Report, which includes the following.

  • Fund Expense and Revenue Sharing Analysis - A list of all fees at the fund level, including expense ratios, wrap fees and revenue sharing. The totals are displayed in both dollar amounts and basis points.
  • Summary Investment Expense/Revenue Sharing – A summary of assets based fees, revenue sharing and wrap fees.
  • Fee Details - A list of all parties getting paid by the Plan and how much they are receiving for their services with an optional section for advisor commentary.
  • Client Fee Summary – A balance calculation of revenue sharing to total plan fees.

The Expense Analyzer also provides a one-page Fee Analysis Summary that is presentation ready. The summary is comprehensive and easy to read, so that you can more easily understand the real costs of the plan.