New Directions For Professional Practices

New Directions For Professional Practices

Doctors, lawyers, architects and other professional groups have unique business structures. While approaches to these plans have evolved, the structures are changing. Traditional approaches to professional practice plans focused solely on the owners, but new design options preserve owner advantages while dramatically improving the plan for employees. Open option access to the broker or investment provider of individual preference was a common practice in the past, but this structure created significant compliance problems. As a result, partnerships are increasingly recognizing that a retirement trust is not a personal IRA and needs to be managed according to fiduciary standards under a single custodial umbrella. Alternative investments that professionals often find attractive are beginning to receive more of the scrutiny they deserve. As IRS and DOL rules have changed over the last decade, professionals have gained access to tax and savings opportunities that would not have been possible under the old rules. With the healthcare world in turmoil, i.e., higher taxes, declining revenue and more liability, doctor groups have special consideration. Fortunately, new ideas for the design and management of retirement plans for professional practices can meet their needs.


Unified Trust Company, NA

Unified Trust Company, NA is a national trust company specializing in the management of qualified retirement plans. Unified Trust Company provides an open architecture retirement plan platform and fiduciary consulting through elite, independent advisors. Unified Trust Company serves as a discretionary trustee to their plans and they have adopted the Frost Model for fee transparency.

Contact Pete Swisher by phone at (859) 608-9920 or by email at

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Pete Swisher
Sr. Institutional Consultant
Unified Trust Company, NA

Pete Swisher, CPC, QPA, CPC, is Senior Institutional Consultant for Unified Trust Company, NA, in Lexington, Kentucky. An Echols Scholar at the University of Virginia and a former U.S. Marine Captain, Pete is the author of 401(k) Fiduciary Governance: An Advisory's Guide, a fiduciary textbook for the ASPPA QPFC credential. He has spoken nationally on fiduciary management of qualified plans for groups that include ASPPA, the Financial Planning Association (FPA), NIPA, ABA, and others. As the principal author of the "ERISA Boot Camp" workshop series, he delivers 401(k) advisory workshops across the country annually. His articles on revenue sharing, automatic 401(k) and fiduciary issues affecting 401(k) advisors have appeared in Financial Planning Magazine, the Journal of Financial Planning, The ASPPA Journal, Employee Benefits News, ABA Trust & Investments, and other industry publications. His paper, "Post Modern Portfolio Theory," won first prize in the 2005 Annual Call for Papers of the Journal of Financial Planning. Pete is a Certified Financial Planner and Certified Pension Consultant.

For more information, call (859) 608-9920 or email:


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