New Law Firm Offers Flat-Fee Service for Advisors in Retirement Space

News May 17, 2023 at 02:17 PM
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Bonnie Treichel, the well-known retirement legislation and regulation attorney who founded Endeavour Retirement, has partnered with Endeavour colleague Sean Cooper to launch a new enterprise called Endeavor Law.

According to the duo, Endeavor Law was formed to meet their needs of emerging and growing financial services firms — especially those firms focused on serving the evolving retirement needs of individuals and employers.

In a statement detailing the launch, Treichel says the Endeavour team is "thrilled to offer a model where we make it our business to know your business." She says the firm's focus on flat-fee solutions is a major differentiator.

"For emerging and growing financial services firms, compliance, regulatory and legal burdens are substantial and can result in unexpected and burdensome costs," Treichel says. "While working with many of these firms at Endeavor Retirement, we saw an opportunity to bridge the gap and provide a necessary service in the market."

Cooper and Treichel suggest the access to a flat-fee "fractional general counsel service" will be particularly beneficial for advisors seeking to do more in the retirement space, especially when the clients served are covered by the Employee Retirement Income Security Act.

"We have found our clients appreciate the predictability offered by this structure over the more traditional hourly model," Treichel adds.

Beyond the general counsel service, Endeavor Law also provides flat-fee support with agreements and disclosures, regulatory compliance matters, litigation, development of custom programs and resources, retirement plan fiduciary compliance and general business matters.

Launch of the new firm comes at a time when the traditional barriers between the private wealth management industry and the employer-sponsored retirement plan market are blurring. As these longstanding silos begin to break down, many firms are exploring ways to expand their services and bridge the gap between wealth and retirement.

As Treichel and Cooper point out, firms can reap tremendous benefits by expanding their businesses into new areas, but such expansion also comes with added legal risk and the potential for serious compliance issues. As such, having the right legal support and expertise is seen as an essential element of many firms' growth strategies.

(Pictured: Bonnie Treichel) 

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