Guidant Financial Group Inc

Dear Revdex.com Administrator, Guidant Financial has been working closely with Ms*** and with Paychex since the payroll data integration was reported on June 8, Guidant has over clients using Paychex today, and this is the first time such an issue has been encountered
As a result, we needed to work with the provider to understand the problem I personally escalated the Payroll issue to their West Coast Zone Implementation Manager on June 20th, and she confirmed a problem at their end That manager was able to pull the data feed manually on June 23rd , and Guidant imported it the same day Ms*** reviewed and updated that information on June 29th At this point the data integration for the plan year has been resolved, but the synchronization issue on the Paychex side is still being worked on I've arranged for Paychex to reach out directly to Ms*** about this. With regard to the documentation and compliance concern, we've explained that in no way was the plan out of compliance In a balance-forward plan like this, the documentation and transaction details are reviewed once-a-year This is done at the time the reporting and testing is done for the Form 5500, and it includes our review of the integrated payroll data mentioned above Generally speaking, no other audit of documents is expected or performed during the active plan year Our annual document review for the Form process indicated that the bank account information we had on file needed to be supplemented with the official bank statements (all pages) This request is based on our desire to have the best possible documentation on hand should the plan ever be selected for a random audit It was in this context that the bank information was requested As of this update, we are still asking Ms*** to supply the actual bank statements for the month of February (emailed detailed request July 3rd, with a detailed reminder July 10th) We have moved the file forward in our annual reporting and testing process, but we still need those statements for the file We will run into problems publishing the signature-ready FORM without those statements. I expect the initial Form and Plan Report to be completed this week, after which it will undergo a final Compliance review by our in-house Legal Team At that point, and assuming there are no additional information requests beyond the aforementioned bank statements, the signature-ready Form will be published for Ms***'s signature and filing with the Department of Labor. Once her is e-filed, we'll be happy to answer Ms***'s questions about terminating our plan administration services, and to discuss a goodwill refund OR discount, if she chooses to continue on with our service. I will update the file once the Form has been published for Ms***'s signature. Best Regards, Jim S*Director, Client Services*** I ***@guidantfinancial.com

We received this complaint via the Revdex.com email notification process I discussed the situation with Mr** *** on Monday, May 15th and we have been working together ever since on the two options I've presented I am confident we have a workable solution for Mr** ***, and will
update the Revdex.com case #*** as soon as that solution has been implemented. Best Regards, Jim S*Director, Client Services*** * ***@guidantfinancial.com

Dear Revdex.com WA,
I am writing in response to Revdex.com complaint ID # ***
Having reviewed the complaint and then full account history, I can confirm that we incurred all of the costs outlined in our original refund for Ms***, dated 9/9/ Those costs include state
filing fees, service fees to the entity filing partner, legal fees to the outside attorney, and in-house fees associated with processing the contract, account setup, and subsequent entity creation
Having said this, I acknowledge that the costs relating to the state of California are potentially confusing California's standard entity filing timeline is significantly longer than most other states; 25+ days compared with 5-days in most states For this reason Guidant always expedites the filings in CA, meaning the rate we quote for CA filings is always the same, and always expedited
While I cannot know if Ms*** would have elected to use the 25+ days standard entity creation process, I agree that she did not specifically ask us to expedite the setup In light of this, Guidant will refund the $related to our cost to expedite with California I will communicate this information to Ms*** under separate copy
The Pension Recordkeeping Agreement is only sent after our client has completed the entity creation stage (EINs), as it is not part of the original ROBS transaction Ms*** paid Guidant for While we aren't willing to change the language in that agreement, it is separate from the initial transaction that is in dispute here The Recordkeeping service is a monthly subscription, and is optional Ms*** is free to use another Recordkeeping or TPA service if she does not like our contract language
Please let me know if there are any additional questions about this matter

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]

I'd like to reopen Complaint  [redacted] because the refund promised by [redacted] did not occur.  Further, when I spoke to [redacted] on Nov 2, 2016, he said he'd try to have the refund processed that week, but if it couldn't happen that quickly, it'd be done by the next Thursday, Nov 10.  When he responded via the Revdex.com, he added another week to the processing time, but I accepted the response with good faith.  On Nov 18 I called [redacted] to ask what happened since no refund had been made and left a voice message.  I tried again on Nov 21 and had to leave another voice message.  I've received no response to my messages.

I've reviewed the complaint from Mr. [redacted] of [redacted].
Background:
Guidant Financial Group has provided 401(k) plan administration and recordkeeping services since March of 2012, when [redacted], Inc. was established by way of our Rollover For Business Startup service.
In...

2015 there was a change of ownership after Mr. [redacted] bought the business.  During the calendar year of 2015, Guidant Financial provided the following Recordkeeping services per the Pension Recordkeeping Agreement:
1. performed the requisite 2014 Plan Year End reporting and testing
2. published the signature-ready IRS Form 5500 for the plan on 9/24/2015, filed by client at the deadline on 10/15/2015
3. executed a no-charge Safe Harbor amendment to the plan at the request of [redacted] 10/27/2015
4. completed the PPA Restatement service.  While other firms charge $500-$1,000 extra for this, Guidant includes Restatement at no charge
5. enabled Audit Protection Guarantee for the entire year
6. sponsored the plan on our prototype 401(k) plan document
In addition to these services, Guidant also processed [redacted]' written request to terminate our recordkeeping services effective 12/31/2015.  They said were moving to a different service provider.  We did so and advised [redacted] in writing that terminating the service meant we would not be doing their upcoming 2015 plan year testing and reporting work.  Their new service provider would do that, and would also move their plan onto the new provider's approved 401(k) document.  We further explained that terminating our recordkeeping service does not terminate the [redacted] Inc. plan, or the obligations held by the plan sponsor and trustees. 
In February 2016 we responded to an inquiry from [redacted] about doing their 2015 plan year reporting and testing.  We replied that we could do the work if the client reinstated their Recordkeeping services, ensuring there were no gaps in coverage.  At that time the cost to reinstate was $119/month for 2 months (Jan & Feb), or $238 total.  We also gave [redacted] a list of the documents that would be needed, and explained that we would bill the reinstatement fee as soon as we received all of the required documents.
We did not receive the documents until June 1, 2016.  At that point the reinstatement amount was up to 6 months @ $119 each, or $714 total.  This is where the current standstill seems to have happened.  With no reinstatement or signed Pension Recordkeeping Agreement, the client did not get his IRS Form 5500 filed in time for the July 31 filing deadline.  It is apparent that there is no new service provider, as they would have ensured this key deadline was known to [redacted].  They are now responsible for a late filing penalty and still have to submit a completed Form 5500.
I spoke with Mr. [redacted] on August 22 and explored the complaint in more detail.  In the end, this was my conclusion:  
While Guidant communicated very clearly, and in a manner consistent with our contract and our policies and procedures, I explained that we are here to support small businesses, and this situation could become quite serious for [redacted] if not remedied quickly.  For those reasons I offered to waive the reinstatement fee and to do the reporting and testing work necessary to publish a 5500 for [redacted].  As of this writing I am awaiting a response from Mr.  [redacted] to my offer.
 
Best Regards,
 
Jim S[redacted]
Director, Client Services
888.472.4455 [redacted]guidantfinancial.com

I've reviewed the complaint and the customer's account, and I reached out to [redacted] to schedule a phone call on Tuesday afternoon. Will update this file once we've been able to meet and discuss options for resolving her concern. Best Regards,  Jim S[redacted]Director, Client...

Services888.472.4455 [redacted] I [redacted]@guidantfinancial.com

I reviewed Ms. [redacted]'s complaint and agreed that she waited too long for a response to her inquiry of 11/2, and subsequent follow-ups.  Root cause:  An internal routing process was not followed while a client services representative was away on vacation. 
Per Ms. [redacted]'s request, I...

approved a full refund of the November service charge and confirmed that the ongoing billing is discontinued as of November.  Ms. [redacted] was not charged for December, even though we are still working on the file and are still providing the Audit Protection Guarantee for the Plan.  We are making every effort to complete the required reporting, testing and compliance review before the end of 2016, but that timing will ultimately be dictated by the 401(k) plan financial reconciliation and Reporting-Testing results.
Ms. [redacted] and I have already discussed the particulars as summarized here, and I believe we have resolved her complaint at this time.  
 
Best Regards,
 
Jim S[redacted]
Director, Client Services
888.472.4455 [redacted] I [redacted]@guidantfinancial.com

I have reviewed the complaint and all of the associated notes in our file.  I've contacted the client to request a phone meeting, in order that we can identify the blocking issues and come up with a solution.  I will update this record as soon as we've held the call and agreed on the best...

course of action.
 
Best Regards,
 
Jim S[redacted]Director, Client Services
888.472.4455 [redacted].[redacted]@guidantfinancial.com

This response is to update the file on the conversation I had with [redacted] last night, and to document the action that was taken concerning her outstanding refund.
The delay in processing was due to an internal communication error that I made the night I was leaving on vacation.  I didn't realize the refund wasn't processed until I came back and saw her update to the file.  
Upon seeing that news, I escalated the request to our accounting manager immediately.  He processed the refund on the spot.  I also called [redacted] to apologize for the delay, and to take responsibility for the fact that I dropped the ball and that I wasn't unavailable when she called in to ask about it.  
The attached refund confirmation email was sent to [redacted] last night, but she should allow a few more business days to pass before expecting to see the refund posted back to her account.

Mr. [redacted] and I had the chance to speak about his complaint in some detail today.  I explained that our primary interest is in helping Mr. [redacted] close out the 401(k) plan for which he is Plan Sponsor and Trustee, and to do so in a way that ensures compliance with [redacted] and [redacted] requirements....

 While there is still work to be done before his 401(k) plan can be properly terminated, Guidant has agreed to stop billing for Recordkeeping services through 12/31/2016, and to refund the November Recordkeeping charge.
 
The plan termination process is essentially stopped while we await some very important information from Mr. [redacted] and/or his CPA.  As this work is essentially forensic accounting, there is always a chance that these new documents could lead to additional questions or supporting documentation requests.  
 
Alex W[redacted] is the Guidant specialist assigned this account until the work is completed.  If the plan termination hasn't been completed by 12/31/2016, we would then have a conversation with Mr. [redacted] about what still needs to get done, what kind of risks might exist, and how we should proceed for 2017.
Next Steps:  Mr. [redacted] is going to look into his documentation of a few transactions (QES buyback by Corp from Plan, disposition of plan assets after Corp bought back the stock, the Board Resolution approving the buyback, etc), and is going to get back in touch with Guidant about those items.  
 
Best Regards,
 
Jim S[redacted]
Director, Client Services
888.472.4455 x3263 I [redacted]guidantfinancial.com

Thank you for your call today, [redacted], and for helping me get the following to you:
I'd like the complaint to be reopened for three reasons:1) [redacted] did not address that the wording "such as filing fees, expedite fees, and postage costs " in no way implies man hour cost.  Relabeling it "in-house fees associated with processing the contract" still remains in a very different category than the examples given in the contract.2) [redacted] states, "The Pension Recordkeeping Agreement is only sent after our client has completed the entity creation stage (EINs), as it is not part of the original ROBS transaction [redacted] paid Guidant for."  However, this agreement was sent to me by Guidant and I did ask to be able to review all contracts I'd be requested to sign at the beginning of the process, before I signed any.  This particular technicality should have been explained to me at that time.  Also, although he refers to their Recordkeeping service as "optional" in his correspondence, the idea of being without it is presented to clients as extremely scary.  3) (Technically this is a new complaint) I haven't received the partial refund of $350 he offered.