See a few of our successful case studies, where Glover Park Wealth showcases the impactful results of our wealth management and insurance services for: 401(k) plans, employee benefits, insurance, and payroll HRIS platform consulting.
Each case study is a testament to how Glover Park Wealth navigates each client specific financial and organizational challenge and turns them into opportunities for:
cost savings, growth, and stability.
401(k) Plans
Challenge
Employer with over 1,000 employees that was looking for a fiduciary 401(k) advisor to benchmark plan fees, provide employee education, and act as a 3(21) co-fiduciary for the investment committee.
Method
Glover Park Wealth shopped the 401(k) marketplace and negotiated pricing with the top recordkeepers.
Results
Following the Glover Park Wealth fee benchmark, the result was the client saving
$42,700 per year on plan fees.
Employee Benefits
Challenge
The company was spending $8,000,000 per year on medical benefits as fully insured. Glover Park Wealth (the insurance agency) partnered with a top 5 employee brokerage firm for plan discovery and fee benchmarking.
Method
We reviewed the fully insured plan and put together proposals for level-funded and self-funded benefit plans which included an exclusive pharmacy contract to reduce spending.
Results
Our proposal was to move into a self-funded arrangement with an exclusive pharmacy contract to save the firm $750,000 - $1,000,000 in medical benefits costs.
Insurance
Challenge
Client engaged Glover Park Wealth (the insurance agency) to review current VUL insurance policies and cash value.
Method
Glover Park Wealth (insurance agency) reviewed the insurance policy premiums, benefits, and cash value with our life insurance general agency partners.
Results
Our firm secured an Indexed Universal Life (IUL) insurance policy with a Long Term Care (LTC) rider to satisfy the wealth preservation goals of the client and their family.
Payroll & HR
Challenge
300+ employee company in Virginia was looking to reduce their payroll costs and engaged Glover Park Wealth for a fee benchmark.
Method
Glover Park Wealth took the payroll plan to market to receive quotes from (5) of the top payroll and HRIS platforms.
Results
The client was able to negotiate their pricing with the current payroll provider and ended up saving $15,000 per year in payroll costs.