A Minnesota dental clinic providing preventive, cosmetic, restorative, and pediatric dental services, found added value through Bronfman E. L. Rothschild retirement plan consulting services.
The Business Challenge
While working with the client on their tax and practice advisory needs, the client’s tax advisor discovered that the method used to allocate employer contributions in their retirement plan was not as favorable to the dentists as it could be.
The Bronfman E. L Rothschild Process
The tax advisor introduced the client to a Bronfman E. L. Rothschild retirement plan consultant. The retirement plan consultant analyzed the plan and provided the client with an alternative allocation method. The client was thrilled with the solution since it was still fair to all sixteen participants, yet provided a significant benefit to the two dentists. The new allocation allowed both dentists to reach the IRS maximum contribution limit without increasing the overall contribution to the plan.
The tax advisor then introduced the client to members of Bronfman E. L. Rothschild investment committee to improve the service they were receiving in managing their 401(k) plan investment funds.
Based on the value and expertise the retirement plan consultant had demonstrated, the independent investment advice Bronfman E. L. Rothschild could provide, and the rigorous investment approach we follow, the client was eager to replace their current advisor with Bronfman E. L. Rothschild.