Siena Retirement Plan Services seeks to change the way employer-sponsored retirement plans are ran today. The industry in plagued by many flaws:

  • Limited Education
  • Excessive Hidden Fees
  • Suitability Advisor Standards Instead of Fiduciary Standards
  • Failure of Active Management
  • Lack of Education and Independent Advice

Siena Retirement Services does business differently. We place your success above all. Whether you’re considering a new retirement plan or re-thinking what you already have, we are here to help.


The Siena Advantage

Our five key benefits make our retirement plans distinctly better.


The 401(k) industry is fraught with hidden fees and commission based products that obscure trust plan costs.

  • Sales Charges
  • 12-B1 Fees
  • Insurance-related Fees
  • Surrender Charges
  • Investment Expenses

Many employers and participants alike have never even heard of these underlying costs, yet they pay for them.

Paying just 0.50% more annually over 12 years results in $12,030 less in retirement savings.1

Siena does not accept fund fees or fund commissions often seen. Siena provides full fee transparency. In addition, all of the investment options are whole-sale, no-load, no-12-B1 fee funds.

Did you know, as an owner or plan sponsor, you’re a fiduciary to your employees?

Investment providers — including insurance companies, fund companies, banks and brokerage firms — frequently muddy the water when it comes to defining the role of a “fiduciary.” See the difference.

In fact, there are a variety of functional fiduciaries in the operation of a qualified retirement plan, In the area of investments, however, there are two distinct types of fiduciary advisors:

  • ERISA 3(21) Advisor: Serves as a consultant, making recommendations and suggestions, but does not assume the liability for managing the plan’s assets.
  • ERISA 3(38) Advisor: Assumes discretion, and therefore the liability, for managing the plan’s assets.

Very rarely is an advisor willing to assume the liability for both monitoring the plan and managing the plan’s assets.

With Siena’s team, we act as both the 3(21) and 3(38) advisors to your plan. We accept these roles in writing, assuring your plan’s trustees a critical measure of liability protection.

More than 71% of all Americans rely on their employer-sponsored retirement plan accounts in retirement. Yet, only 44% of workers participate.2

Many providers resort to software, websites and other one-off tools in an effort to avoid the hard work and increased liability that come from providing direct advice to participants.

With Siena, we pride ourselves in providing direct advice about plan investment options to participants who want this level of assistance. Our highly educated and experienced advisors will meet individually with each participant to help them determine the portfolio that is best for them.

Unlike most other 401(k) advice offerings, there is no additional cost for the one-on-one advice within Siena.

Active management has failed 401(k) participants.

failure-of-us-mutual-funds

Over a 15 year period, professional money managers struggled to keep up. Only 43% were still in existence and only 17% outperformed their benchmarks.3 Trying to beat the market is a losing game.

Experience shows that participants don’t need more choice—they need more help. Therefore, we’ve built Siena to provide them the professional help they need.

We begin by introducing participants to our five Managed Portfolio Strategies.

These risk-based portfolios are constructed using the same institutional investment vehicles we use with our high-net worth individual clients. All based on peer-reviewed academic research, not the latest hype.

Selecting one the these portfolios simplifies the investment decision for participants, while offering them broad diversification, quarterly re-balancing, and the oversight of an objective, conflict-free advisor. Studies show that more than 80% of participants will select a “do-it-for-me” option when one is available to them.

And for the participant who wants a little more of a “do-it-yourself” option, the individual mutual funds used to build the portfolios can also be used to create their own custom allocation.

Siena Wealth Advisors brings together the team of experts to provide a comprehensive solution with independent parties with one point of contact:

  • Discretionary 3(38) Fiduciary Advisor
  • Recordkeeping and Administration
  • Custody of Assets
  • Investment Fund Options

We are the quarterback for your plan, guiding you through every step.


1 – Assumes a $100,000 starting 1/1/2004 – 11/30/2016. Based on the monthly returns of the DFA Global Allocation 60/40 R2 fund less stated fees. Low-fee fund assumes 0.50% annual expense ratio. High-fee fund assumes 1.0% annual expense ratio. For illustrative purposes only.
2 – As of March 2016 – https://www.bls.gov/opub/btn/volume-5/pdf/defined-contribution-retirement-plans-who-has-them-and-what-do-they-cost.pdf
3 – For the period ending 12/31/2015. Non-survivors include funds that were either liquidated or merged. Outperformers are funds that survived and beat their respective benchmarks over the period.