FeeShield™ Analysis | Mills Wealth Advisors

FeeShield™ Analysis

A diagnostic approach to benchmarking, governance, and risk reduction for your 401(k) plan

$20,000+ Potential annual fee reduction per plan

Most closely held businesses are unknowingly exposed to excessive fees, design inefficiencies, and fiduciary risk. Our FeeShield™ diagnostic identifies these gaps and creates a clear path to optimization.

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Plan Sponsor Exposures

Three critical areas where most 401(k) plans have hidden vulnerabilities

Pricing Exposure

  • Asset-based fees not benchmarked
  • Revenue sharing not evaluated
  • Service model misalignment
  • No documented fee comparison

Design Exposure

  • No recent safe harbor analysis
  • No profit-sharing optimization
  • No after-tax flexibility
  • No integration with cash balance

Fiduciary Exposure

  • No monitoring process
  • No documented review minutes
  • No RFP in years
  • 3(21) vs 3(38) delegation unclear

The FeeShield™ Diagnostic Framework

A structured three-phase approach to reducing exposure and optimizing performance

01

Risk Identification

  • Fee benchmarking
  • Service model review
  • Share class analysis
02

Governance Review

  • Monitoring calendar
  • IPS alignment
  • Fiduciary file structure
03

Risk Mitigation

  • Documented review process
  • Defined delegation structure
  • Transparent cost structure

Real Results

How one manufacturing company transformed their 401(k) plan

Mid-Size Manufacturing Company

26 participants • $3.5M in plan assets

Before FeeShield™

All-in Cost
1.97%
Benchmarking File
5+ years old
Last RFP
7+ years ago
Fiduciary Process
None documented

After FeeShield™

All-in Cost
0.95%
Share Classes
Institutional
Profit Sharing
Implemented
Governance
Fully documented
$20,000 Annual Fee Reduction • Better Service • Reduced Risk

This Is Not Isolated

Abernathy Daley 401k Consultants (“Abernathy Daley”) believes well over 80% of all corporate retirement plans have not been benchmarked by independent 3rd parties over the last 3+ years. Consequently, more than 80% of corporate plan sponsors are overpaying on plan administration, and their employees are overpaying for the investment alternatives available within the corporate retirement plan. This assumption includes both 401(k) plans and 403(b) plans.

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