Sallus Retirement to Launch Pooled Retirement Plan as Independent Fiduciary

Sallus Retirement
Sallus Uses Behavioral Science and Technology to Create a Fully Digital, Low-Cost 401(k) Solution Designed Specifically for Small Business Owners and the Financial Advisors Who Serve Them

BERWYN, PA — Venture capital firm Magis Capital Partners announced recently the launch of Sallus Retirement LLC, an independent professional fiduciary and retirement Pooled Plan Provider (PPP).

Magis Capital states that Sallus Retirement was built in response to the 60 million American workers who today are without a workplace retirement plan. The Sallus solution was designed specifically for the 5 million small businesses that either cannot afford a retirement plan or whose owners do not want the risk of becoming a retirement plan fiduciary subject to oversight by the U.S Department of Labor and the Internal Revenue Service. Sallus Retirement changes all that.

Sallus offers a fully digital, easy-to-understand, bundled Pooled Employer Plan (PEP) designed as a single solution for advisors and their small business clients who are looking for a low-cost, worry-free, outcome-oriented plan that encourages plan adoption and ongoing participation, and includes a professionally designed and managed investment menu.

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“401(k) plans are the only employee benefit plan still not outsourced to a professional third-party to manage. It’s not practical to require company officers to take on personal liability as plan fiduciaries when the risk can now be outsourced to a third-party professional,” said James Sopha, CEO of Sallus Retirement and a 30-year financial services industry veteran. “Furthermore, the 401(k) industry has sold 575,000 plans in 43 years. At the current rate of increasing retirement plan coverage, it will take another 373 years for the industry to cover the 5 million businesses in need of a plan. The 60 million uncovered American workers simply can’t wait that long.”

Sallus Retirement is one of the first fully independent and bespoke PPP solutions. Working in collaboration with wealth advisory organizations, Sallus provides independent oversight and fiduciary protection—effectively allowing business owners, financial institutions, and wealth advisors to remain conflict-free and focused on their core business services.

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Lisa Kottler will serve as Chief Growth Officer and will lead the Sallus Retirement sales and distribution effort. Ms. Kottler and her equally talented team will be working with advisory firms to change the way 401(k) plans are delivered to small businesses, in a non-intimidating way and without the confusing jargon. Ms. Kottler was formerly head of NFP Retirement.

“Advisors and their clients are going to love what we’ve built,” said Ms. Kottler. “They can design a plan with signature-ready documents in just a few clicks, rather than six to eight weeks, and at a fraction of the cost.”

Sallus Retirement will be available in July 2021. Learn more at Sallus.com.

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