763-442-2196 | OAKDALE, MN

Small Business Owners

ARE YOU CONFIDENT MANAGING YOUR
401(K) PLAN OFFERING?

We specialize in guiding plan sponsors and administrators through all the complexities of operating and managing a 401(k) plan. We make it easy.

Your 401(k) plan should be a benefit you provide, not a drain on your time and resources. Purkat Financial provides the expertise to help you gain the clarity you need to confidently run your retirement plan.


SAVE TIME, LESSEN RISK

Navigating the sea of 401(k) plan options available and continually monitoring the plan and vendors can weigh on business owners. We make it easier for the business to offer their employees a robust 401(k) plan, perform their fiduciary duty, and make it more likely participant investment options are appropriate. Using a 401(k) plan advisor can free up business owners’ and HR employees’ time to spend on their business rather than the many tasks involved in plan design and management.


OUR PROCESS

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Discovery

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Organize

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Simplify

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Engage

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Monitor


BUSINESS OWNER PLAN SUPPORT



Streamlined Plan Design

  • Purkat specializes in developing 401(k) plans to fit the specific needs of the business, reduce business owners’ stress, and increase plan participation. 

Vendor Management

  • We help save plan sponsors time by coordinating and managing vendor relationships. 
  • Purkat monitors plan relationships to confirm a high level of service and reasonable fees are in place.

Your Fiduciary Partner

  • Using an independent, third-party fiduciary for your company’s investment-related obligations can give you an additional layer of liability protection.
  • Our service can mitigate employer’s risk associated with plan management and investment selection.

Monitoring/Evaluating Investments 

  • Purkat’s monitoring and reporting helps business owners and participants receive the on-going attention their retirement plan deserves.
  • Purkat provides the due diligence required to make informed fund selections for your plan by evaluating funds for their ability to perform and selecting ones with appropriate fees.

Acting in Participants Best Interest

  • Working with Purkat, a third-party investment professional, means your plan is being independently assessed for suitability. 
  • We focus on enhancing employees’ retirement options so they can best prepare for the retirement they envision.

Retirement Plan Services

  • Full-Service Advisory
  • Vendor Search & Support
  • Plan Fee-Benchmarking
  • 3(21) or 3(38) Investment Advisory
  • Financial Wellness Coordinator
  • Fiduciary Training
  • 401(k) + Solo(k) + SIMPLE IRAs + SEP IRAs + Cash Balance Plans

Health Savings Accounts

  • Groups
  • Individuals
  • Fiduciary Advice
  • Low Cost Investments
  • Non-Proprietary Options

Business Packages

The Map & Compass

This program is for one-time projects - flat fee or hourly based - at the employer level and is typically for businesses that have one or more of the following criteria:

  • Re-evaluating their overall benefit plan offerings and don't know where to start
  • Current 401(k) provider either:
    • includes their own proprietary investment options
    • directly connected to an insurance-based company
    • is primarily a payroll provider
  • New to the idea of working with a fiduciary advisor
  • 501(c)3 non-profit
  • Recent or impending corporate transitions:
    • Merger/Acquisition
    • Turnover within C-Suite or HR leadership

The GPS

This program is for on-going, continuous advice at both the participant & employer level and typically for businesses that have one or more of the following criteria:

  • Less than 150 employees
  • Currently have an existing retirement plan in place
  • Desire to have or maintain a strong benefits package that reflects company values
  • Offer or plans to offer, an HSA health care option for employees

“Employees who suffer from overwhelming financial stress or struggle to maintain financial stability tend to incur both immediate and future financial costs for their employer in the form of absenteeism, garnishments, payroll taxes, and delayed retirement. As employee financial health improves these costs diminish.”

— CYNTHIA MEYER & GREGORY A. WARD, FINANCIAL FINESSE, "ROI - SPECIAL REPORT"