Brian D. Allen, founder and president of Pension Consultants Inc., believes when a retirement plan consulting firm says it is independent, it should be completely independent.
“A lot of people say they’re independent within our industry, but what they really mean is that they can sell six products instead of one,” Allen said. “We’re completely independent in that we don’t take anything from anyone in trips or even meals or golf balls. I don’t want it to influence our decisions for our clients or even have the appearance of that.”
The company provides investment advice and federal regulations guidance to human resources professionals and other decision-makers who weigh in on retirement plan decisions.
Pension Consultants now has more than $2 billion under advisement, helping more than 65,000 employees at companies in Missouri, Oklahoma, Arkansas, Kansas and Nebraska. Among its clients are Springfield-based companies CoxHealth and Positronic Industries and Omaha-based transportation and logistics company Werner Enterprises Inc., said Allen, who founded Pension Consultants in 1994.
In 1995, he hired Chris Thixton, whom he credits with developing the firm’s vendor services program. Thixton was invited to become a shareholder of the company in 1997 and is the second-longest-serving member of the 16-member staff.
Allen declined to provide revenues, but he said that when revenues dropped 5 percent in 2008, it was the only year in the company’s history that it didn’t post growth. The company rebounded in 2009 and 2010, with 15 percent growth each year, he said.Read more about Small Business Week here.