Well and Good LLC was established in 2009 by Dick Shafer to furnish investment
advice by consultation and programs delivered to retirement plans and their
sponsors or fiduciaries (herein "Clients"). Dick Shafer is Well and Good LLC's
managing member and Chief Compliance Officer for SEC purposes. Well and Good
LLC is a Wisconsin member-owned limited liability corporation. Membership in
Well and Good LLC vests in Dick Shafer and Nancy Webb in their capacity as
trustee(s) of The Shafer and Webb Family Trust dated June 27, 2003.
Services to Clients, who may be officers or board members of plan sponsors, are
intended to help them understand and fulfill their defined contribution retirement
plan responsibilities under applicable rules and regulations. For many
organizations the Employee Retirement Security Act of 1974 (ERISA), enforced by
the United States Department of Labor, establishes expectations for these plan
fiduciaries. For organizations not subject to ERISA, state or commonwealth law
may apply. Prior to any advisory service, Well and Good LLC and the Client must
complete a written Investment Advisory Agreement. This Brochure (also known as
Form ADV 2), as amended from time to time, is incorporated into any such
Agreement. The Investment Advisory Agreement conveys whether Well and Good
LLC will serve as a nondiscretionary investment fiduciary to the plan consistent
with Section (3)(21)(A) of ERISA, for plans subject to ERISA, or likewise as a
fiduciary under applicable state laws for plans not subject to ERISA. Upon client
request, we may also elect to make available services consistent with Section (3)(38)
of ERISA.
The fiduciary advisory service may commence with a "Transition Program." As part
of the Transition Program, we will look for a written plan document that identifies a
“plan administrator.” In addition, we may recommend delegation of a fiduciary
responsibility to a “Named” plan investment decision-making entity (“committee”),
and; adoption of a plan investment policy to guide committee decisions and
demonstrate the plan fiduciary’s prudent process.
The Client may elect ongoing/annual investment due diligence (Selection and
Monitoring) services, in keeping with its plan's fiduciary needs. An Annual
Program of Monitoring and Selection includes a quarterly application of plan
investment policy among other best practices for plan fiduciary due diligence. Well
and Good LLC may also take on Projects. Projects include, but are not limited to:
board or participant communication; investment searches, or; vendor searches.
Client Transition Program, Monitoring and Selection and Projects may consist
partly of, but are not strictly limited to, education and/or ministerial acts. Well and
Good LLC will individualize the Transition Program, Monitoring and Selection and
Project services to the needs of each Plan and its fiduciaries. The services involve
securities and our receipt of compensation. The services, or work product from
services, can be considered by a Client making plan investment or management
decisions. We provide the Monitoring and Selection services on a regular basis.
Therefore, Well and Good LLC believes that a portion of our services probably fall
within the definition of "advice" subject to Department of Labor enforcement (if the
plan is subject to ERISA). Note: at or before the time of this filing, there was
pending a Department of Labor revision to definition of fiduciary. Should that
definition be enforced, Well and Good LLC would consider itself an independent
“sophisticated”
or “expert” fiduciary. Based upon a review of Client plan assets as of
December 31, 2022, Well and Good LLC advises more than an SEC threshold $200
million aggregate retirement plan assets on a non-discretionary basis, thereby
permitting a registration with the SEC as “pension consultant,” rule 203A-2.
Legal counsel advises us to remain registered with the SEC. Taking these factors
into account, we duly register with the SEC as an investment advisor.
We intend Well and Good LLC’s education and/or ministerial services to convey
benefit to clients but they do not constitute investment advice. We do not provide
every form of advice allowed by registration with the SEC. For example, Well and
Good LLC will not: invest in or trade securities; participate in a "wrap fee" program
providing portfolio management services, nor; manage client assets on a
discretionary basis. We are advised that registration is appropriate because some
portion (even if not all) of our work product or consultation may reasonably be
considered investment advice.
Before advice or recommendations may be provided by any person on its behalf,
Well and Good LLC requires that person to fulfill minimum education and
background requirements. The requirements are: (i) graduation with a bachelor’s
degree from a four-year college or university accredited by a regional agency; (ii)
completion of a specialized certificate program in employer-benefits; (iii) five- or
more years' experience working in institutional services and/or product
management for an insurance or mutual fund company; (iv) attendance at an
accredited graduate school of business management, or; other relevant experience
may be substituted for one of these four requirements.
Dick Shafer meets Well and Good LLC's requirements to furnish its investment
advice. Dick was graduated from Duke University with a bachelor’s degree; he
completed the Certified Employee Benefits Specialist (CEBS) program and is a
fellow of the International Society of CEBS; for a total of about twenty years he was
an officer of TIAA and then of CUNA Mutual Group, responsible for managing plan
sponsor and participant services or product management, and; he attended Boston
University's Graduate School of Management and completed courses at the Aspen
Institute, Babson College and Center for Creative Leadership. He served on boards
of non-profit organizations, as Committee member and Head, Executive Committee
member, Vice Chairman and President.
Robert Brian (Brian) Cressey also meets requirements. Brian was graduated from
Bowdoin College with a bachelor’s degree; he completed the Certified Employee
Benefits Specialist (CEBS) program; for over twenty years he was an officer of TIAA
responsible for managing plan sponsor and participant services. He completed and
maintains the Accredited Investment Fiduciary (AIF) designation, and he has
completed all of the coursework for the Certified Financial Planner (CFP).
Scott Hemerda meets these requirements. Scott was graduated from Colorado State
University with a bachelor’s degree. He is completing the Certified Employee
Benefits Specialist (CEBS) program. For more than 17 years he was a manager of
TIAA individual and institutional services, responsible for institutional plan
relationships, plan design and dealing with plan sponsors’ fiduciary risk.
At Well and Good LLC’s discretion, other persons who meet the minimum education
and background requirements may provide its advice without our immediately
modifying this Brochure (Form ADV 2).