Success Story

Large law firm with multiple locations

The law firm had a partner Defined Benefit Plan as well as a 401(k) Defined Contribution Plan.

The committee was faced with the following challenges:

  • Structure their partner pension plan
    • Reduce volatility and eliminate surprise contributions for partners
  • Offer a customized series of risk based portfolios
    • Ensure the 401(k) plan sponsors were meeting their fiduciary obligations regarding fee disclosure and investment monitoring

FIA was hired to provide a retainer suite of services which included:

  • Overseeing the partner pension plan and the 401(k) plan
  • Guiding the law firm through the aforementioned challenges

Ongoing Success:
The law firm implemented a custom low volatility asset allocation for their pension plan that:

  • Controlled volatility
  • Made partner contributions more predictable

The investment fund lineup in the 401(k) plan was streamlined. Four custom portfolios were designed specifically for the law firm’s participant demographics with:

  • Best in class institutional funds
  • Low expenses

The vast majority of participants utilize these funds.