A client owned a business and had several desired changes they wanted to implement to their corporate retirement plan design, specifically aimed at recruiting and retaining top talent.

DeNovo Advisory Group professionals performed a Corporate Retirement Plan (CRP) Audit of the client’s existing 401(k) plan. With their findings, a new request for proposal (RFP) was submitted and resulted in a significant cost reduction. This, along with increased efficiencies in plan design, solved several fiduciary liabilities.

The client was also able to access the DeNovo Advisory Group’s employee education service model that provided a dramatic improvement from the incumbent advisor.

A client had maintained a portfolio of 17 separate life insurance policies. The client purchased these policies at various points in his business and personal life, but never performed a comprehensive review of his insurance portfolio.

The DeNovo team audited the client’s policies and delivered a Product, Performance, and Health (PPH) report.

Due to the thorough review of the client’s insurance portfolio, he was able to inject capital into his business by liquidating several polices totaling in over $100,000 in cash value, reduce remaining premiums by over $60,000 per year by simplifying to just seven total policies and increase the total amount of coverage his business owned on his life for key man purposes.