Customer Success: Dr. Ricardo Suarez, DDS

I love the fact that my staff can log in to their ShareBuilder 401(k) accounts and adjust their plans on their own. They don’t have to come to me anymore... and that’s a big time saver.”

— Dr. Ricardo Suarez, DDS

Challenge

Neded a new 401(k) plan for his practice that took less time to set up and administer than his current plan
Wanted the flexibility to manage and track his 401(k) when it was convenient for him vs. having to call during business hours and wait for quarterly performance reports
The plan had to be low-maintenance — each employee should be able to easily choose and control their own retirement investments without requiring his valuable time
Ensure the cost of offering the new 401(k) plan to his staff of nine medical professionals was ‘more in line with the value they were receiving’

Solution

Selected ShareBuilder’s PLAN4MOST for its powerful online administration tools and 24/7 availability
Used ShareBuilder’s web-based tools to set up the 401(k) in a single evening — without interrupting his practice
Staff were able to roll over their savings from the previous 401(k) with no fee attached and select their new investment options online
The PLAN4MOST required a minimal setup fee and had much lower maintenance fees than the previous plan
ShareBuilder’s online account status tools offered an up-to-date view of plan performance, on demand

Result

Owner can manage his new plan in just minutes per month, whenever it fits his schedule
Staff can make any changes to their accounts on their own, giving Dr. Suarez more time to focus on his practice
Monthly management fees associated with his ShareBuilder 401(k) are significantly lower than his previous plan
Owner has instant online access to his account anytime, and never has to wonder how his plan is performing

In West Covina, CA, Dr. Ricardo Suarez, DDS and his highly trained staff go beyond what’s expected to provide the most comprehensive, gentle and highest quality dental care that technology and personal skill can deliver. Due to the rapid growth of his successful practice, Dr. Suarez was looking for a new 401(k) plan that he could manage in just minutes, not hours a month.

Our previous 401(k) was adequate, but the costs seemed high for what we were getting. The reports only came quarterly, and any change meant picking up the phone and being put on hold.”

“When I went looking for a new 401(k) plan, I chose ShareBuilder’s PLAN4MOST not only because it was more affordable, but more importantly, it was more flexible. Their online administration tools mean I no longer have to work through three to four people just to make a simple change.”

“I never have to wonder how my investments are performing. The answer is always available — all I have to do is log in. It’s that simple.”

— Dr. Ricardo Suarez, DDS

It’s wise to keep investment choices in your plan simple. Too many choices tend to overwhelm employees and lower participation rates. Research has shown that participation rates declined from 70% to 60% as choices were increased from 12 to 60 investment options.¹ Lots of choices can also make it more difficult for employees to select investments that best align with their goals.

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While each “Customer Success” is a true experience of an actual ShareBuilder 401(k) Plan customer, ShareBuilder does not represent or imply that every consumer has had or will have a similar experience. Results can vary because of many factors, including individual financial objectives, business structure, tax considerations, portfolio selections, and changing market conditions.

Sharing a “Customer Success” with you should not in any way be considered investment or tax advice, nor a recommendation by ShareBuilder Advisors LLC.