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Fake Fees & Phantom Advisors: What 5500s Reveal - Paul Sippil [CPA & Forensic 401(k) Consultant
Manage episode 494798560 series 3584470
In this episode of the Smarter Planner podcast, host Belle Osvath sits down with Paul Sippil, CPA, and founder of Paul Sippel & Associates, to explore the often-overlooked world of 401(k) plan fees, transparency, and fiduciary responsibility. As a self-described “forensic retirement consultant,” Paul has reviewed thousands of Form 5500 filings, uncovering hidden fees, conflicts of interest, and even outright fraud.
Paul shares how his journey began by cold-calling business owners after analyzing their publicly available 5500 forms—only to be met with surprise, disbelief, or outright denial. Through years of experience, he discovered that most business owners and advisors lack awareness of how much participants are truly paying, and that many advisors are receiving fees for “fake management” without providing real participant education or fiduciary-level service.
Paul encourages financial planners to dive into 5500 forms—even if they don’t manage retirement plans—because doing so can uncover powerful opportunities to add value for business-owning clients.
You can connect with Paul here;
https://www.youtube.com/@paulsippil
https://www.linkedin.com/in/paul-sippil-5141a47/
__________
The Smarter Planner podcast is presented by the Financial Planning Association National Capital Area Chapter (FPA NCA). This episode is for educational purposes only, and neither Belle Osvath nor FPA NCA endorses specific individuals or services mentioned.
62 episodes
Manage episode 494798560 series 3584470
In this episode of the Smarter Planner podcast, host Belle Osvath sits down with Paul Sippil, CPA, and founder of Paul Sippel & Associates, to explore the often-overlooked world of 401(k) plan fees, transparency, and fiduciary responsibility. As a self-described “forensic retirement consultant,” Paul has reviewed thousands of Form 5500 filings, uncovering hidden fees, conflicts of interest, and even outright fraud.
Paul shares how his journey began by cold-calling business owners after analyzing their publicly available 5500 forms—only to be met with surprise, disbelief, or outright denial. Through years of experience, he discovered that most business owners and advisors lack awareness of how much participants are truly paying, and that many advisors are receiving fees for “fake management” without providing real participant education or fiduciary-level service.
Paul encourages financial planners to dive into 5500 forms—even if they don’t manage retirement plans—because doing so can uncover powerful opportunities to add value for business-owning clients.
You can connect with Paul here;
https://www.youtube.com/@paulsippil
https://www.linkedin.com/in/paul-sippil-5141a47/
__________
The Smarter Planner podcast is presented by the Financial Planning Association National Capital Area Chapter (FPA NCA). This episode is for educational purposes only, and neither Belle Osvath nor FPA NCA endorses specific individuals or services mentioned.
62 episodes
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