Ladenburg Launches Turnkey 401(k) Solution for Smaller Businesses
It is a fully bundled 401(k) plan offering that incorporates a broad selection of investment products, as well as 3(38) fiduciary oversight.
Ladenburg Thalmann Financial Services Inc. has launched Qui(k), a turnkey 401(k) solution designed to help small- and medium-size businesses more easily implement qualified retirement plans.
Qui(k) is a fully bundled 401(k) plan offering that incorporates a broad selection of investment products selected and monitored by Ladenburg Thalmann Assest Management, which serves as the 3(38) fiduciary for the plans associated with the platform.
Qui(k) is available to advisers across all of Ladenburg’s independent and brokerage subsidiaries. The turnkey administrative and recordkeeping functions that the platform offers include day-to-day administrative tasks, such as reviewing and approving employee loans and overseeing hardship distributions, qualified domestic relations orders, terminated employee distribution requests and terminated employee automatic threshold distributions.
“We are pleased to draw on our scale, experience and resources to further enhance our advisers’ ability to support the needs of their business owner clients with the Qui(k) platform,” says Paul Lofties, senior vice president of wealth management at Ladenburg. “For small- and medium-sized businesses, having a competitive qualified employee retirement plan is essential in hiring and retaining the personnel they need to grow.”