On Friday, May 5, David Ranney, VP of Sales at Rebalance, was featured on Charleston’s FOX 24, where he was interviewed about the hidden fees that small business owners and 401(k) plan sponsors should be aware of.
David Ranney Recently Featured on Charleston’s FOX 24
CHARLESTON, S.C. May 5, 2023—David Ranney was featured on Charleston’s FOX 24, where he was interviewed about the hidden fees that small business owners and 401(k) plan sponsors should be aware of.
Ranney discussed how small and mid-sized business owners typically have less of a voice with the provider of their 401(k) service offering, and that can lead to these business owners paying higher fees. It is important for business owners to take a look at their 401(k) service offering every 2-3 years. Total fees should be around 1% all-in. If business owners are over-paying on their 401(k) fees, the compounding factor of higher fees can lead to a loss of hundreds of thousands of dollars over time for their retirement nest egg.
As Vice President of Sales at Rebalance, Ranney partners with small businesses throughout the Carolinas. He educates small businesses about how to avoid high 401(k) fees, how to optimize asset allocation, how to increase plan participation, and how to utilize retirement planning. The net result is higher employee satisfaction and greater employee retention.
Ranney graduated from the College of the Holy Cross with a Bachelor of Arts in Economics, and he earned his Master of Business Administration with concentrations in Finance and Marketing from the Carroll School of Management at Boston College. Ranney also holds a Series 65 securities license. He currently resides in Charleston, South Carolina.
For more information, please visit: https://www.rebalance360.com/team-member/david-ranney/
Rebalance is an award-winning investment firm that provides its clients with access to a fundamentally different and better set of investment options. For individual consumers, Rebalance360 combines world-class investing, financial planning, and personalized advice into a powerful and transformative approach to wealth management. Small business clients trust the firm’s BetterK offering to help them reduce their 401(k) fees by up to 50%, improve employee participation, and “bring alive” employer-based retirement savings plans.
The firm’s innovative solutions and team leadership have been profiled in such top-tier media outlets as The Wall Street Journal, CNBC, FOX Business, NPR, The New York Times, MSNBC, PBS and CBS among others. In 2015, the U.S Senate invited Managing Director Scott Puritz to testify regarding new fiduciary rules designed to make the investments of Americans safer, and he is the only financial advisor in the U.S. ever to testify on such an important issue. In 2018, Rebalance was honored by Schwab’s Pacesetter IMPACT Award™ for Innovation and Growth.
The Rebalance Investment Committee is anchored by four of the most respected experts in the finance world: Professor Emeritus Burton Malkiel, the world-renowned Senior Economist at Princeton University and author of A Random Walk Down Wall Street; Dr. Charley Ellis, the former longtime chairman of the Yale University Endowment; Jay Vivian, the former Managing Director of IBM’s $100+ billion in retirement investment funds for more than 300,000 employees worldwide; and Kristi Craig, CFA, the first-ever Chief Investment Officer of the National Geographic Society, where she oversees a $1.4 billion endowment.
Rebalance is headquartered in Bethesda, Md. and Palo Alto, Calif., currently serves more than 600 clients and manages more than $1 billion of their financial assets.
