If we had to sum up the principles that guide our business methods, they would probably fall into the following categories:
While there are a multitude of firms designing, implementing, and administering retirement plans, we are proud of the fact that most of our 1000 clients have been satisfied with our staff and our services from the onset, and remain so to this day.
A business relationship is in many ways like a personal relationship. It is essential that there be trust between the two parties. Communication should be two-way; direct and honest; both delivered and received with respect. Because we can never know your business as well as you do, we understand that you are the decision-maker. However, because you rely on our expertise, we know it’s incumbent upon us to make a clear case for your best interest.
At PSI, we have believed since the firm’s inception that communication is the basis for a good relationship. There are times when this means delivering some straight talk. (E.g.: Are the client’s goals realistic? Have they thought carefully about whether their strategy will mesh with their goals?)
We understand factors such as savings shortfalls, inflation, healthcare costs, actuarial projections– all of which can play havoc with a retirement plan that looks quite pretty on paper. According to the American Society of Actuaries, too few Americans understand what’s needed to fully fund their retirement. It’s part of our mission to make sure the dreams line up with reality.
A second important principle is trust. While a legally binding contract can attempt to cover all of the bases, there is no substitute for the trust between people.
While clients understand that retirement planning is at heart a financial endeavor, they need to trust their advisors at every level. Questions may arise which have had no precedent in a company’s history. (E.g.: Should the company offer loans as part of its retirement package? Will this attract more talented employees, or merely open a can or worms? How about issuing debit cards for employee loans on 401[k] plans?)
In wrestling with thorny issues, you need to know that your advisors have your back, so to speak. We earn no commissions on our recommendations. We apply our knowledge of the markets and financial trends to help clients better plan for retirement. No surprises. No hidden tricks.
We operate according to certain methods that have stood the test of time, not to mention market volatility, changing labor markets, evolving technology, etc.
When you understand how we operate– if we’ve communicated effectively– you will trust us to do the job. We work to earn your respect, and, likewise, we respect that you know your business as we know ours.