Jennifer San Fillippo
La Bri Group, First Allied Securities (Brookfield, Wisconsin)
Reported by PLANADVISER Staff
San Fillippo says one of the differentiators about her advisory services is that she is able to get involved in real plan design, administration, and cross-testing issues. Much of that stems from her background working for Copeland Co. with 403(b) and 457 plans and performing compliance department work, followed by similar work with Provident Mutual, and later serving as a pension consultant with EMJAY. Even though she has been an adviser since 1997, she retains much of her interest in the plan design and compliance-related issues.
Although San Fillippo partners with a network of TPAs, she says she is able to help with the plan design of cash balance plans, cross-tested designs, and DC/DB combos. “I see legislation in Congress that eliminates cross-testing and that makes me nervous,” she says, noting that it is the kind of provision that helps encourage employers to implement and maintain plans that otherwise they might not. Her confidence shines through when she says she “loves it” when people get audited because it allows her to show the strengths on the administrative side, speak the lingo, and help them through what can be an intimidating process.
San Fillippo performs vendor reviews every two years. She works with ERISA attorneys and tries to obtain letters of understanding for each client that specify the deliverables the plan sponsor can expect. San Fillippo also helps the plan committees stay on the right path with prudent practices, encouraging the committee to keep files with memos and meeting minutes, as well as summary plan description sign-off sheets from participants. “I try to insulate them from any kind of litigation.”