Beacon Wealth Consultants has introduced the LightPoint Kingdom(k) retirement plan, a retirement platform that provides outsourced administration, fiduciary protection from liabilities, custom plan design and actively managed Biblically responsible investment (BRI) options.
“We are thrilled to be able to offer wealth advisers a turnkey solution for their Christian business-owner clients,” says Cassandra Laymon, president of Beacon Wealth Consultants. “A solution like this is a great opportunity for advisers to create value and gain assets. Nearly 80% of Christian investors have expressed interest in investing in faith-based funds, but until now there have been essentially no options for advisers to be able to offer BRI within 401(k) plans.”The company notes that the offering comes at a time when business owners are looking for new advisers, citing a 2017 study by Fidelity that indicated nearly 40% of plan sponsors want to make a change to their retirement plan, up from 9% in 2013. Thirty-seven percent said the reason was fiduciary responsibilities and potential liabilities, and 27% said that their company has grown and the plan has become more complicated. Another 26% said they were dissatisfied with the investment offerings. Beacon Wealth Consultants says its offering can help advisers differentiate themselves and potentially win new business.