Akros and FiPar to work on bringing more and better fiduciary solutions to the financial services and retirement planning market.
Online PR News – 18-October-2017 – Austin, TX – Akros Fiduciary Management, www.akrosfm.com, an independent financial and business advisory firm, announces its alliance with FiPar Financial, Inc., www.fiparfinancial.com, institutional trust consultants. The two firms will work together to bring an integrated fiduciary solution to financial institutions.
Akros is the co-creator of a 401(k) fiduciary compliance system to help plan sponsors stay in compliance with ERISA, The FIRE System. FiPar Financial offers comprehensive consulting services to trust organizations and created a private label trust company solution to help financial service companies get into the trust business quickly and with minimal costs. The joint efforts will help fiduciaries at financial institutions better serve their clients and retirement plans.
“This relationship with Akros allows our clients a simple and cost-effective 401(k) solution to help plan fiduciaries and their clients document the plan sponsor’s fiduciary compliance with ERISA regulations” says Bob Fletcher, CEO of FiPar Financial. “In today’s litigious and regulated environment, having documentation in their files can possibly save them tens or hundreds of thousands of dollars in legal fees or downtime. All plans should be making sure they have oversight and compliance files on their plans.”
“The financial world is getting more regulated and litigious. FiPar gives our clients access to the broad trust expertise which is becoming more and more important.” states Deb Castellani, CFA and Principal of Akros. “We agree with FiPar’s no-beating around the bush results oriented approach is what is needed to ensure things are being done correctly for the benefit of the fiduciaries, participants and clients. People see compliance as costly, FiPar and Akros see compliance as inexpensive compared to legal bills and reputation risk.”
Akros’ alliance with FiPar will help bring its clients expertise in trust business that has been used by many independent trust companies around the country. Mr. Fletcher has been an expert witness and has started, closed and turned-around numerous trust companies/departments around the country. This experience complements Akros vast knowledge in the investment, financial and retirement plan industry.
“We are proud to complement and enhance our service with FiPar’s expertise.” proclaims Bill Conrad, Principal with Akros. “Together we can bring a more well-rounded solution to the financial services and fiduciary markets.”