Fidelity Fidelity Federal Retirement Plans (FFRP) was formed in 1992 as a Third Party Administrator and Recordkeeper for small company 401k plans. At the time, investment companies and insurance companies dominated the 401k market selling their products with their own brand of investments. FFRP provided open architecture where trustees could select from many mutual funds and move among them freely without penalty. FFRP did record keeping on a daily basis which was new to the industry. Participants would get the current price when making transactions such as transfers, distributions and loans.
Today, the company handles all facets of 401k plans and profit sharing plans, including plan design, administration and document preparation.
Fidelity Federal Planning Corporation (FFP) was started in 1995 as a fee-only registered investment advisor. Advisers at FFP assist trustees by designing portfolios of mutual funds to benefit plan participants. A full range of investments are available over all fund categories for 401k plans. Trustees can choose between active and passive funds, like Vanguard funds.
Investment models based on risk tolerance are developed for participants not comfortable selecting their own investments. These models are re-balanced quarterly to maintain the correct asset allocation.
Individual IRAs can invest in mutual funds, ETFs, stocks and bonds. Each IRA holder is questioned to determine their risk tolerance and a portfolio is developed within their risk parameters. These portfolios are periodically reallocated based on market conditions.
TL Insurance was added to the group in 2011 to provide insurance products to individuals including life, disability, annuities, and medicare supplements. The philosophy is to use low cost products that meet the needs of the individual in relation to their full retirement picture.