Professional Advisors

A private equity firm approached the DeNovo Advisory Group based on concerns about the 401(k) plan of a portfolio company. Due to several systemic issues, the company’s 401(k) plan had incurred penalties in excess of six figures that decreased operating capital.

DeNovo Advisory Group professionals were able to perform a Corporate Retirement Plan (CRP) Audit and discovered a wide range of inefficiencies both in the investment options available to employees and the plan fees.

In addition, the company’s internal resources were spending a significant amount of time managing the plan due to lack of service by the current plan advisor. Ultimately, the DeNovo Advisory Group was able to drastically reduce plan fees to both the company and participants, provide improved investment options, and eliminate internal resource responsibility of plan management.

A financial advisor working with The DeNovo Advisory Group acquired a book of business consisting of investment accounts, life insurance contracts, fixed/variable annuities and long-term care policies. While these are a portion of the advisor’s book, the main driver of growth for his practice is increasing his Assets Under Management (AUM).

He enlisted DeNovo professionals to review and service the insurance portion of his book. The DeNovo Team analyzed each policy and implemented a service model that offered efficiencies for the advisor and his clients.

The trusted advisor realized improved revenue and referrals while remaining focused on his preferred portion of the industry.