In this issue... As Americans live longer, investors should seek portfolio consistency, not just growth Switch to Best fund 401(k) from national brokerage termed "an excellent change" Job growth, productivity gains, solid economy provide optimistic market outlook for 2006

Switch to Best Funds 401(k) from national brokerage termed “an excellent change”

When the owners of Vocon Design, a Cleveland-based interior design, architecture, and technology firm, needed a company to manage the 401(k) plan for its fast-growing practice, they hired a large, nationally recognized brokerage firm on the presumption that a large national company would provide all the necessary service and support.

But it wasn’t long until problems arose.

“I had various complaints and my staff had lots of questions,” said Debbie McCann, a Vocon principal. “The man who signed us up left the firm and there was no follow-up. I didn’t know the name of his replacement or who was managing our plan.”

“Nobody to call”

McCann became frustrated. “I had nobody to call,” she recalls.

She also lacked the time to investigate the problems. Her company was growing quickly, with assignments from companies that included WKYC-TV, The Cleveland Indians, First Energy, and others.

It wasn’t long before McCann decided the time had come to transfer the assets in Vocon’s 401(k) plan from the large national brokerage firm to Midwest Investment Management’s Best Funds™ 401(k) Investment Advisory Service in Cleveland.

“A much better way”

McCann distinctly remembers her initial dis-cussion with Midwest Investment Management’s Managing Partner, J. Mark Wipper. “Mark explained that his firm didn’t make money by churning my account, or the accounts of my people. He said Midwest Investment Management is compensated based on the value of client accounts, which I felt was very fair. It seemed like a much better way to go.”

“Overall the change has been excellent,” said McCann. “I’ve had zero complaints going into our fourth year.”

She especially likes the service provided to her staff. “Mark meets periodically with my employees,” said McCann. “It may not seem like a big deal, but it’s a huge deal to them. They know him by name. He always presents a list of recommendations and if we have questions we can ask. Mark has been great.”

With a staff of 43 people, McCann concedes her company may have been too small to warrant ongoing attention from the national brokerage. “I was a little fish in a larger pond, and now I don’t feel that way. The way Midwest handles their business is a lot different.”

Employee education

A primary component of the Best Funds 401(k) Investment Advisory Service is employee education,” noted Wipper. “We help educate employees at our client companies about investing, and we help them select investments suitable for their age, goals, and tolerance for risk.”

“Our fees are competitive, understandable, and disclosed fully in advance,” Wipper said. “This is a benefit over brokerage firms or other companies whose fees may be difficult to decipher.”

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If your company’s 401(k) plan is burdened by high fees, or if your current provider isn’t providing the service you and your employees deserve, consider a better alternative: Midwest Investment Management. For more information, contact J. Mark Wipper at (216) 830-1125 or jmw@mimllc.com