Black Box Pension Advocates provides investment advice and consulting services to retirement plan sponsors. Global Retirement Partners, LLC is our registered investment advisor and LPL Financial is our broker/dealer.
Organizations like yours create retirement plans to help the organization succeed. You need motivated employees to achieve your goals. A competitive retirement plan will help you attract, retain, and retire the workforce that you want. At Black Box Pension Advocates, we help you leverage your retirement plan so that you can better pursue the goals of your organization.
Yes, committees must spend time tending to administrative tasks and satisfying fiduciary obligations. It’s our job to help you make that part of your process fast and easy, so you spend less time on administration, and more time on plan strategy.
Together, we can build a plan to help your employees live well financially, now and into retirement.
Settlor Functions
Plan sponsors establish retirement plans to benefit their organizations. The benefits of having a plan are the assets:
Attract workers
Employee financial security
Retire when you want to
Reduce income taxes
Working for a company that cares about me
Fiduciary & Administrative Duties
But having a retirement plan comes with obligations and risk. The risk, cost, and administration are the liabilities:
Compliance testing
Government reporting
Document maintenance
Fee benchmarking
Investment monitoring
With regard to the retirement plan, you wear three hats:
As a “settlor,” you create a retirement plan to serve the organization. The goal can be to increase profits or to serve a mission, and the retirement plan is part of achieving that goal.
As a “fiduciary,” you make decisions about the assets of plan participants, which are held in trust. And, that comes with risk.
As a “plan participant,” you want to have the confidence that you will be financially secure in retirement.
Our service plan is customized to your unique situation and will serve the needs of the settlor, the fiduciary, and the plan participant.
Let us help you run your retirement plan – so you can run your business.
With the many competing obligations that come with managing a business, wouldn’t it be nice to delegate more responsibilities to your retirement plan advisor?
Retirement plans take time and resources to manage. You can rely on Black Box Pension Advocates, LLC to help you simplify your plan compliance and administration.
Our Mission and Core Values
Mission
At Black Box Pension Advocates, LLC, we seek to create retirement plans that people love. Happy people can be more effective at work, retire earlier and live longer. And, a happy workforce helps your organization pursue its own mission.
Core Values
Focus
Our focus is to help you make your retirement plan more successful. Our systems, resources and service models are built with the goal of meeting the needs of retirement plan sponsors and plan participants.
Stewardship
We are investment fiduciaries. We provide advice that is timely, pertinent, easy to understand, and that simplifies your decision-making process. And, we document the process.
Value
Cost matters. We are committed to providing superior service at competitive rates and to helping our clients understand retirement plan fees and how those fees affect their organization.
The meaning of the word “black box”:
Retirement plans are complex. So are people. In science and technology, the term “black box” is used to describe a complex system where one can see the inputs and outputs but cannot easily observe the process inside. The human brain is one example of a “black box.” So is a wrist-watch and an iPhone. At Black Box Pension Advocates we focus on results. And for us, good results mean that your retirement plan is helping your organization achieve its goals. As retirement plan specialists we understand the inner workings of the retirement plan “black box.” While we focus on results and on simplifying the process for our clients, we are fully committed to transparency at all times.
Overview of our business structure
Privately owned, local business
Focus: employer-sponsored retirement plans
Investment fiduciary consulting
Plan strategy consulting
Plan participant education
Broker/dealer & custodian
The nation’s largest independent broker/dealer(1) with over 4,000+ employees and 16,000+ advisors(3)
The nation’s largest retirement plan consultant(2) with over 38,475 qualified retirement plans(3)
Publicly traded under ticker symbol LPLA
Registered Investment Advisor
Focus: 401(k) plan specialists
$65,831,500,707 qualified plan assets(3)
4,790 qualified plans(3)
280 plan advisors(4)
1 As reported by Financial Planning magazine, June 1996-2018, based on total revenue. 2 Plan Sponsor Magazine 2015. 3 As of 05/18/2020. 4 May 18, 2020 Form ADV.
Our Registered Investment Advisor
Global Retirement Partners, LLC
dba Black Box Pension Advocates, LLC
SEC Registered Investment Advisor (RIA)
Specializes in Serving
Retirement Plan Sponsors and Advisors
Global Retirement Partners
# Branch Offices: 54(4)
# Qualified Plan Advisors: 280(4)
Qualified Plan Assets: $65,831,500,707(3)
# Qualified Retirement Plans 4,790(3)
Total Assets: $67,728,457,653(3)
Retirement Plan % of Total: 97%(5)
Services:
Investment Due Diligence
Plan Reporting
Financial Wellness
3(21) & 3(38) Fiduciary Services
Discounted Pricing from Providers
About Global Retirement Partners
GRP is one of the largest groups of retirement plan specialists in the country. We are a people company in that we provide services and technology to retirement plan advisors that provide the services directly to the American public and beyond. The effort we endure to provide these dynamic services and technology directly affect and enhance the lives of retirement plan participants. GRP Advisors leverage our expertise, scale and proprietary technology to serve the needs of their retirement plan clients. We believe that our offering is the foundation for the overall success of our advisors and their clients.
Visit GRP Financial here
(5) Calculated based on information reported on Form ADV.
Our Broker/Dealer
LPL Financial
LPL Financial is a leader in the retail financial advice market, the nation’s largest independent broker/dealer and one of the largest independent broker/dealers to retirement plan advisors. LPL delivers an integrated technology platform, the expertise of retirement industry professionals, and the tools and investment management resources that helps enable retirement plan advisors to build and grow thriving practices. Supported by the strength and commitment of LPL, advisors can position themselves with confidence as a discretionary or non-discretionary investment fiduciary to clients, offering objective guidance on investment options and the opportunity to increase their marketing reach and strategically grow their practices.
LPL Financial is one of the nation's leading financial services companies and a publicly traded company under ticker symbol LPLA. The firm's mission is rooted in the belief that objective financial guidance is a fundamental need for everyone. LPL does not offer proprietary investment products or engage in investment banking activities; this means advisors affiliated with LPL are not pressured or influenced by LPL to sell its products. Thousands of financial advisors nationwide are able to rely on the firm's tools and resources to help them provide financial guidance and recommendations to help meet their clients' needs. For more information about LPL Financial, visit www.lpl.com.
ABOUT LPL RETIREMENT PARTNERS
LPL Retirement Partners is the retirement plan-focused division of LPL Financial. Through its integrated business platform and their team of retirement industry experts, LPL Retirement Partners supports the operational and practice management needs of retirement plan advisors who offer retirement plan services to plan sponsors and their employees.
By working with an LPL Retirement Partners, you can help put your employees on the path toward achieving a secure retirement. Advisors who work with LPL are leading the way to retirement readiness for a generation of employees. Their success comes from your plan’s success. With dedication, cutting edge tools and high-impact education, combined with a commitment to impeccable service, LPL retirement advisors will help you set a clear direction toward retirement readiness.
LPL Retirement Partners facts & figures #05014281
Additional information about LPL Financial
LPL at-a-glance #1-05040973
The Power of an Affiliation with LPL #745596
Selecting a Financial Advisor #561681
Black Box Pension Advocates, GRP Retirement Partners, and LPL Financial are separate entities.
Your Service Team
Thomas B Herbruck, CFP®
Retirement Plan Consultant
tom@blackboxpension.com
Andrea M Badza, ChFC®
Client Service Manager
andrea@blackboxpension.com
About Thomas
Thomas B. Herbruck, CFP® Retirement Plan Consultant
Check the background investment professionals associated with this site on FINRA's BrokerCheck
Phone: (216) 503-0383
Email: tom@blackboxpension.com
Overview
Thomas advises individuals and organizations in strategies that seek to establish, maintain and improve their retirement plans. Thomas has over 25 years of financial services industry experience, with a specialty in employer-sponsored retirement plans.
Current Position
Thomas founded Black Box Pension Advocates with the conviction that his team could build a better model to serve the retirement planning needs of employers, employees, individuals, and their families.
Past Experience
Arthur J. Gallagher (12/2010-03/2017), Pension Consultant and Regional Vice President, Cleveland, OH
Established Gallagher's retirement plan practice in Cleveland and became Head of Retirement Plan Sales and Service for all of Ohio. Our team specifically focused on investment consulting, fiduciary liability consulting, and plan design consulting for mid to large market defined contribution and defined benefit plans.
Herbruck Alder (06/1996-12/2010), Director of Operations & Practice Leader, Qualified Plans, Cleveland, OH
As the Director of Operations, my responsibilities included setting direction for and management of the technology and database for client service and sales.
As Practice Leader for the Qualified Plans Division, my responsibilities included investment and fiduciary consulting to our mid-market corporate retirement plan clients. While at Herbruck Alder, Thomas served as an adjunct professor at Myers University, teaching their graduate-level retirement plan class.
Principal Financial Group (04/1993-06/1996), Senior Group and Pension Representative, Cleveland, OH
As a Senior Group and Pension Representative, my primary responsibilities were sales and servicing of 401(k), 403(b), and defined benefit plan clients on northern Ohio.
Connecticut Mutual (09/1991-04/1993), Group Representative, Philadelphia, PA
As a Group Representative, my primary responsibility was the sales and service of Group Life and Disability Insurance products through employee benefit consultants in the downtown Philadelphia area.
Education
Accredited Investment Fiduciary® (AIF®) from The Center for Fiduciary Studies, 2000. Certified Financial PlannerTM Professional through the College of Financial Planning, 1996. REBC (Registered Employee Benefits Consultant) and CLU from The American College in Bryn Mawr, Pennsylvania in 1994. Bachelor’s Degree from Hamilton College in Clinton, New York, with a major in Sociology, in 1991.
Licenses & Registrations
Series 7 & 63 registrations held through LPL Financial, Investment Advisor Representative, Life & Health Insurance Licenses, Certified Financial Planning Professional®, Chartered Life Underwriter®, Registered Employee Benefits Consultant®, Accredited Investment Fiduciary®.
About Andrea
Andrea M. Badza, ChFC® Client Service Manager
Phone: (216) 503-0384
Email: andrea@blackboxpension.com
Overview
Andrea provides administrative support to assist individuals and organizations with strategies that seek to improve their retirement plans. Andrea has over 25 years of experience in the financial services industry with a specialty in employer-sponsored retirement plans. The last 15 years have been specifically focused on investment consulting, fiduciary liability consulting, and plan design consulting for midmarket retirement plans.
Current Position
Andrea joined Black Box Pension Advocates to better serve the retirement planning needs of employers and individuals. In her capacity as a client service manager, Andrea provides administrative support to assist her clients with the design, implementation, and investment monitoring of retirement plans.
Past Experience
Arthur J. Gallagher (12/2010-3/2017), Senior Account Manager, Cleveland, OH
I supported retirement plan clients with the Ohio retirement plan team of Arthur J. Gallagher & Co, working in the downtown Cleveland office for 6 years. Oversaw client service responsibilities for northern Ohio.
Herbruck Alder (11/1997-12/2010), Account Manager, Cleveland, OH
At Herbruck Alder, my primary responsibilities were to conduct plan reviews for qualified plan sponsors. I also ran employee education meeting.
John L. Iacobelli, Ph.D (08/1994-11/1997), Securities Assistant, Cleveland, OH
I worked directly with Dr. Iacobelli supporting the financial planning process for individuals and families.
Qualified Plan Consultants, Inc. (10/1987-08/1994), Pension Administrator, Cleveland, OH
As a qualified plan administrator, my primary responsibilities were to manage compliance testing, government reporting, and plan administration for qualified plan sponsors.
Education
Chartered Financial Consultant (tm) through the College of Financial Planning in Bryn Mawr, Pennsylvania in 2015. Accredited Investment Fiduciary® from The Center for Fiduciary Studies in 2009. Bachelor’s Degree from Cleveland State University, Finance major, in 1995.
Licenses & Registrations
Series 7 registration held through LPL Financial, Life & Health Insurance Licenses, Chartered Financial Consultant®, Accredited Investment Fiduciary®.
Why choose Black Box Pension Advocates, LLC as your retirement plan advisor?
Our focus and commitment to the employer-sponsored retirement plan space.
The combination of our fiduciary guidance and strategic plan investment consulting.
Our robust participant services, employee education, and investment advice.