401(k) Case Studies

Law Firms

A mid-sized law firm needed their 401(k) Plan to reflect their firm’s values.

Their old 401(k) was a relic of the past – complicated, expensive, and generally unattractive to their highly educated team. EVOadvisers worked with the law firm to implement a simple, low-cost, and appealing benefit – while making the process of changing to a new plan provider quick and easy for the busy attorneys and staff. Here’s a snapshot of what changed.

EVOadvisers answered my questions before I even knew to ask them. They anticipate our needs and are proactive with information before we need it.

Disclosure: This testimonial was given by a current client. No cash or non-cash compensation was provided for the testimonial. We are not aware of any material conflicts of interest on the part of clients giving a testimonial resulting from their relationship with EVOadvisers.

Simplified the plan.


An insurance company acted as record keeper and fund provider.

Investments —

  • 86 fund choices — only 27 were used by any participants.
  • 70% of funds were proprietary funds only available through the insurance company.

EVOadvisers provides a main point of contact, coordinating an experienced record keeping and third party administration team at Employee Fiduciary.

Investments —

  • Diversified, low cost investment options with pre-built EVOadvisers allocation models.
  • All mutual funds with tickers — so employees can do all the research they want. No opaque insurance “separate accounts.”

Maintenance — Simple process to let employer know key dates and timelines to be in compliance with regulations.

Amplified the experience.


Service — Insurance company provided few services used by participants.


Service —

  • Experienced support team to help answer plan sponsor questions.
  • Provide proactive support and at-a-glance reference tools to meet plan deadlines and ERISA reporting requirements.
  • Participant advice days, giving employees the opportunity to meet with a CFP® professional to discuss their 401(k).
  • Customized videos and resources pertaining to their 401(k) to help onboard new employees.
  • Ongoing advice on optimal plan design to meet employer’s evolving needs.

Investments —

  • Monitor investment positions and update models annually.
  • Offer transparency to participants through use of low-cost, publicly-traded mutual funds.

Quantified (and lowered) the costs.


Total annual cost: $75,239

  • Administration costs: $45,764
  • Investment expense: $29,475

Reduced plan costs by more than 66%

Total annual cost: $25,545*

  • Administration costs: $20,891 (tax deductible business expense)
  • Investment expense: $4,654 (average fund expense ratio: 0.08%)

*Costs are from the time the plan moved to EVOadvisers management.