Since we value and set client confidentiality as a priority, the best way to show how SCM works with its clients is through case studies. Please note: Case studies are used to highlight how SCM serves clients; past performance is no guarantee of future results. Also, all names have been changed to protect the confidentiality of SCM clients. Please read the disclosure page for more information.
A Retirement Community had two different pooled accounts that were to be managed in the same fashion. The Retirement Community Board wanted the portfolio examined. Because the Board and staff focused so heavily on the mission of the organization, they did not have the answers to provide solutions. We received a copy of their Investment Policy Statement (IPS) and other pertinent details from the administration.
We read through the IPS and examined the structure, the objectives and investment vehicles that were being used. We used our financial planning tools to calculate the spending rate and the probability of the desired outcomes.
We scheduled the next meeting during the next quarterly Board meeting. The week before the Board meeting, we discussed the findings with the Administration and made the appropriate changes. The Board meeting covered many topics and answered many questions. The next step was to transfer the assets and to begin to implement the strategy.
We meet with the Administration monthly and the Board on a quarterly basis. The various accountants that do the monthly reconciliation have taken advantage of Servus360 in their communication and receipt of documents in a quicker fashion.
Analyzing the 403(b)
As many Non-profits have many 403(b) providers, this Non-profit was not any different. They had six providers and wanted to accomplish several things. They wanted consistent service thorough all providers, fewer providers, and to streamline the process for the human resources department.
We analyzed all the providers, including investment offerings, fees, services and penalties to move their money. We then looked in the market place to see if anything could be changed for the better.
After several weeks, we rescheduled with the non-profit to discuss their options. Since so many moving parts were involved, it was a time-consuming process. Each provider was analyzed and the administration made the final decision as how to achieve their objectives. We were there every step of the way.
After several months of meetings and additional information gathering, the number of providers was streamlined and we implemented a consistent education plan for the employees in regard to their 403(b). We then helped the administration monitor the plan and the investment vehicles.