"With financial resources and human resource department staffs at small and mid-sized organizations stretched thin, we believe these companies are most in need of our collective expertise and world-class advice."
Lisle, Illinois (PRWEB) July 12, 2012
Recognizing two of the most pressing human resource and financial challenges faced by small and mid-sized businesses, Oak Brook-based Veritas Risk Services and Voyage Financial Group of Lisle have partnered to form Veritas Retirement Services.
As part of the venture, both Veritas and Voyage have committed to providing comprehensive, no cost/no obligation reviews of employer-provided health care and 401(k) plans.
"With financial resources and human resource department staffs at small and mid-sized organizations stretched thin, we believe these companies are most in need of our collective expertise and world-class advice," said Veritas co-founder and President, Doug Truax. He continued, "We're also firm believers that our prospective clients shouldn't have to pay just to sit down with us and receive a thorough analysis of their health care and 401(k) plans."
Veritas brings its wealth of expertise and top-to-bottom commitment in helping middle market organizations reduce health care costs by implementing wellness programs, creating employee benefit and self-service HR web sites, and reducing vendor management costs. Additionally, Veritas has also been leading the way in placing its clients in group health care captives, an emerging trend wherein employers ranging in size from 50 to 1000 employees band together to reduce the cost of their medical insurance.
Voyage Financial Group of Lisle was originally founded with the sole purpose of providing comprehensive retirement planning and advice to individual retirees. With more than 700 retirees and approximately $320 million under management, Voyage has responded to the growing demand by small and mid-size companies to ensure their company 401(k) plans are compliant with recently enacted ERISA regulations.
"Small and middle market companies should be just as focused as Fortune 1000 companies on the recently enacted fee disclosure rules under ERISA 408(b)(2)," said Voyage co-founder and leader of Voyage's 401(k) advisory practice, Mike Chong. "Beyond that, we believe 401(k) plan sponsors and should be concerned with the issues of fiduciary selection and obligations, investment fund selection and monitoring, employee education, and crafting and implementing an investment policy statement."
About Veritas Risk Services
Latin for "truth", Veritas' business model and internal service delivery is designed to give its clients complete control of their entire employee benefit program while allowing Veritas to become an extension of their organization. Specifically, Veritas’ mission is to guide clients through four critical areas of employee benefit design and administration; Strategy and Planning, Compliance Support, Vendor Management, Employee Education/Advocacy. Within each of these four areas, Veritas offers clients numerous services that are part of a fully transparent, defined, and capped fee approach.
Founded in 2007, Veritas is headquartered in Oak Brook, Illinois. Additional information is available on the company's website at http://www.veritasrs.com.
About Voyage Financial Group
Founded in 2006, Voyage is a full-service financial service consulting firm with over 700 clients and $320 million in assets under management. With a team possessing more than 65 years of combined experience guiding people through the retirement journey, Voyage’s core business involves delivering comprehensive financial wellness and retirement education to employees, developing tailored individual retirement plans, and dispensing financial advice.
Beyond individual retirement planning, the Voyage team also provides 401(k) advisory services to small to mid market organizations with employees ranging from 20 to the many thousands. In this role, the Voyage team takes the lead to ensure employer-sponsored 401(k) plans are compliant with the most up-to-date, detail-oriented ERISA regulations as well as meeting the standards of the Center For Fiduciary Excellence.
Voyage is headquartered in Lisle, Illinois. Additional information is available on the company’s website at http://www.voyagefg.com.
Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor, member FINRA SIPC. LPL Financial and Veritas Retirement Services are unaffiliated firms.