For medical practices, a competitive 401(k) plan is essential for attracting and keeping top talent. However, many practices discover their Principal plans have high fees and outdated fund choices. These costs affect staff retirement results and put physicians and owners at fiduciary risk. A benchmarking review offers the clarity and protection you need.
Holland Capital Management in Palm Bay, FL
The first thing to consider when looking to find a financial advisor in Palm Bay, FL: who are the team members? That’s critical since your financial well-being requires a lot more than just portfolio management. Along with attention to investments, you will likely need other services.
M. Chad Holland CFA, CFP®
About Palm Bay, Florida
Palm Bay
Palm Bay is a city in Brevard County, Florida, United States. The city's population was 119,760 at the 2020 United States census, up from 103,190 at the 2010 census, making it the most populous city in the county and the largest by land mass.
The Problem
Many practices employ Principal through payroll or advisor relationships without fully understanding the actual costs.- Fees may be concealed within revenue-sharing arrangements, high-cost fund share classes, or administrative charges.
- These hidden costs reduce participant balances and increase fiduciary risk for the plan sponsor.
Why Benchmarking Matters
- Physicians and practice owners acting as fiduciaries must ensure that plan fees are reasonable.
- Benchmarking compares your Principal plan against peer practices, establishing a defensible fiduciary process.
- Litigation has clarified: even small and mid-sized practices can be held liable for excessive fees.
How Holland Capital Helps
- Independent, fiduciary-first benchmarking of your Principal plan.
- Analysis covers fees, fund lineup, and provider arrangements.
- Clear, actionable recommendations that enhance your plan without causing unnecessary disruption.
Our Fiduciary Advantage
Holland Capital Management, led by M. Chad Holland, CFA®, CFP®, is an independent fiduciary advisory firm. We provide objective oversight designed to protect plan sponsors and improve retirement outcomes.
Schedule a free Principal 401(k) benchmarking review for your medical practice.
-
Location
Palm Bay, FL - Hours
Monday - 9am-5pm
Tuesday - 9am-5pm
Wednesday - 9am-5pm
Thursday - 9am-5pm
Friday - 9am-5pm - Phone/Fax
P | 877-733-9435
F | (980) 500-1531 - Email Us
chad@hollandcapitalgroup.com
Frequently Asked Questions
+Do I need to change recordkeepers?
No, there are many improvements that can be made within your current plan.
+How long does a benchmarking review take?
Typically 2–3 weeks, depending on the availability of plan documents.
+Am I personally liable for excessive fees?
Yes, as plan fiduciaries, practice owners can be held responsible. Benchmarking helps establish a defensible process.