A Hospital client with approximately $40 million in assets was utilizing the bundled defined contribution investment and recordkeeping platform of a prominent insurance company, had not received competitive bids for many years and was concerned that fees might not be competitive.   The Hospital retained Cowden Associates, Inc. (“Cowden”) to perform an independent review and if appropriate solicit competitive bids and recommend alternatives for considerations. Read more

Hospital with approximately $40 million of assets and over 150 fund choices wanted an independent opinion of the appropriateness of investments offered and fees associated with their retirement plans. These contracts contained large hidden deferred sales charges. The hospital was relying on an insurance agent to select funds most of which were proprietary.  The contracts or arrangements had not been reviewed for possible opportunities for improved operational effectiveness and / or cost savings.Read More

Manufacturing client with a $30 million dollar Defined Contribution Plan had utilized the service of a bank for approximately ten years.  Assets were invested in a mix of bank managed funds and funds offered by various mutual funds.  Participants were offered 23 funds with average combined fees (recordkeeping, administrative and investment management) equal to 1.17% of assets or $292,500.Read More