Employee Fiduciary in the Media

Greg Carpenter

Greg Carpenter founded Employee Fiduciary in 2004. With 29 years of experience in accounting and finance, Greg has brought his expertise to a variety of advisory, senior and executive management roles. Greg has worked for a national accounting firm, a Fortune 500 plan sponsor, a major brokerage firm, and he served as the CEO of a major 401k TPA firm. He is a CPA and earned his BA from Yale and his MBA from The University of Chicago Booth School of Business.

Recent Posts

Greg Carpenter interviewed by Nick Thorton

Posted by Greg Carpenter on Feb 25, 2015

BenefitsProGreg Carpenter was interviewed by Nick Thorton, BenefitsPro.com. "Putting clients’ interests first all along."

Greg Carpenter, a co-founder of Employee Fiduciary, a Mobile, Alabama-based RIA that specializes in the small-plan market, thinks the DOL’s proposed rule will, in fact, be disruptive to the 401(k) market, which remains dominated by the broker-dealer world, not RIA fiduciaries who work on fixed fees.

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Greg Carpenter interviewed by the WSJ

Posted by Greg Carpenter on Feb 20, 2015

Wall-Street-JournalGreg Carpenter was interviewed by the WSJ: "How to Lobby for a Better 401(k)."

Consider writing a letter. "You've got to frame the request. Keep it positive. Put it in writing. Be prepared to assist," says Greg Carpenter, chief executive of Employee Fiduciary, which is based in Mobile, Ala., and offers record- keeping services to 401(k) plans.

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Article by Greg Carpenter published on MarketWatch

Posted by Greg Carpenter on Feb 13, 2015

MarketWatch-LogoContrary to popular belief, it can be easy for small businesses to cut through the red tape and evaluate their 401(k) fees — even the ones that don't appear on a Form 5500 or quarterly statements. Read the article by Greg Carpenter "3 Easy Steps for Small Businesses to Evaluate 401k fees," on MarketWatch.com. 

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Greg Carpenter discusses 401k Plans with Donna Fuscaldo

Posted by Greg Carpenter on Jan 30, 2015

Daily Finance Logo
Employee Fiduciary founder, Greg Carpenter discusses, "4 Ways to Tell if Your #401k is a Bad Egg," with Donna Fuscaldo at DailyFinance.com.

Other than listing the fund's expense ratio, the industry isn't required to disclose where the money goes, making it easy to bury fees, says Greg Carpenter, founder of Employee Fiduciary. Which is why one sign you might be paying too much is when your fees aren't broken down on your statement. "If you see fees going to the financial adviser and/or the record keeper, chances are you are getting a good deal," Carpenter says, "because there isn't any place to hide the fees."

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How small business 401(k) plans will look in 10 years

Posted by Greg Carpenter on Dec 15, 2014

MarketWatch-LogoAn article by Greg Carpenter: "How small business 401(k) plans will look in 10 years" published on MarketWatch.com.

By 2025, I believe all small business 401(k) plans will be cheap, simple to administer and free of conflicts of interest.

Hidden fees will be gone. Plan participants will have access to a universe of investment choice and choose among the leading providers of investment planning — regardless of their employer.

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Topics: 401(k)

10 Insider Blogs Every 401k Plan Sponsor & Fiduciary Must Read (Part I)

Posted by Greg Carpenter on Nov 25, 2014

Fiduciary-News-LogoGreg Carpenter, founder of Employee Fiduciary, is mentioned in this article, "10 Insider Blogs Every 401k Plan Sponsor & Fiduciary Must Read (Part I)" from FiduciaryNews.com.
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401k Fee Disclosure One Year Later: What We’ve Learned

Posted by Greg Carpenter on Jul 16, 2013

Greg Carpenter quoted by Fiduciary News. Speaking for many, Greg Carpenter, Founder & CEO of Employee Fiduciary in Mobile, Alabama says, “I do not believe the 401k Fee Disclosure Rule has been successful. The Department of Labor still allows investment providers to obfuscate fees. I have not seen any evidence the 401k Fee Disclosure Rule has been successful. It’s been business as usual with no change before and after the new rules. What strikes me about the impact of the 401k Fee Disclosure Rule is the lack of change in behavior by 401k sponsors and participants. We are still fielding the same questions as before. We encounter people who misinterpret our fees because they are fully disclosed and not hidden in the fund’s expense ratio. Ideally, we could simply point them to a competitor’s fee disclosure to make a comparison. Because competitors do not disclose a disaggregated list of fees, we do not even attempt to do this – it will only confuse potential clients. It should be that simple, but it’s not.”

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Don’t Get Duped by Investment Fees

Posted by Greg Carpenter on Nov 27, 2012

According to Greg Carpenter, chief executive of Employee Fiduciary, retirement investors are better off choosing passive mutual funds like an index fund or an ETF  for their portfolio to avoid fees and have a greater portion of their money grow. “You really need to figure out why you’re paying (for an actively-managed fund) because a lot of the time you have a match from your employer. Why do you want to chase an additional return when you get a match,” says Carpenter. Read the full article where Greg is quoted, "Don't Get Duped by Investment Fees," on FoxBusiness.com.

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Old School: The 401(k) Paper Chase

Posted by Greg Carpenter on Nov 15, 2012

Old School: The 401(k) Paper Chase November 15, 2012 I recently spoke with Greg Carpenter, founder of Employee Fiduciary, a small business 401k administrator, who agreed that lack of clarity on plan expenses and share classes – whether a conscious decision on the part of the industry, or not – are probably a more important topic for advocates to tackle.
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Topics: Investments

10 Things 401(k) Plans Won’t Tell You

Posted by Greg Carpenter on Nov 9, 2012

10 Things 401(k) Plans Won’t Tell You November 9, 2012  Early contributors to 401k plans were mostly high earners, since they had the biggest tax bill and thus the greatest incentive to sock away pretax dollars in the plans, says Greg Carpenter, CEO of Employee Fiduciary, an independent administrator of 401k plans.
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Topics: 401(k)

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