Family Business Succession Planning

The General Questions


  1. How long have they been in business?
  2. How many 401k plans do they administer?
  3. How many clients left them last year and why?
  4. Are there any pending litigations against the firm?

It is also important for you to ask about the trust/custody or recordkeeping system. This is a huge part of a 401k plan that sometimes gets looked past.

It may be helpful to ask the vendor what kind of options they offer for 401k (some options include: Traditional, Roth, Safe Harbor, New Comparability).