The SRA Difference
Published: Nov 6, 2024
The SRA Difference
SRA prides ourselves on being a leader in the 831(b) administrative space. We set ourselves apart through our commitment to transparency, risk management, and unwavering support for our clients. Here’s how we embody “The SRA Difference.”
1. Battle-Tested Through Promoter Audit
SRA has proven its resilience and integrity by successfully navigating an IRS promoter audit that began in August 2022. During this process, we fully cooperated with the IRS, providing digital documentation that corresponded to approximately 2,500 file boxes. In July 2024, the IRS concluded its audit without making any changes to our operations. While we didn't receive an official endorsement, we consider this outcome a significant victory, affirming our commitment to compliance and best practices.
2. Comprehensive Warranty
We stand behind our clients with a warranty that ensures protection when following our guidelines. As long as clients adhere to the rules and procedures outlined in our agreements and the 831(b) Plan Resource Guide, SRA provides legal and accounting support in the event of an IRS audit. This assurance offers peace of mind, knowing that you have a dedicated partner ready to support you.
3. A Strong Risk Management Background
Founded by Van Carlson, who boasts over 30 years of experience in property and casualty insurance, SRA has a solid foundation in risk management. Unlike many competitors who are primarily lawyers and CPAs promoting the 831(b) tax code, SRA focuses on leveraging 831(b) as an effective risk financing option for small businesses. We prioritize risk management and compliance, ensuring we are not increasing business owners' risks but rather managing them more effectively. We proudly consider ourselves the most conservative 831(b) administrator in the market.
4. Transparent Fee Structure
At SRA, we believe in complete transparency regarding our fees. Clients can expect clarity from the outset, knowing their annual fees and what they entail. There are no hidden fees associated with dormancy, tax preparation, or tax disclosure. Our fee structure includes an initial plan onboarding fee, an annual maintenance fee for ongoing support, and a retained liability premium charged by our direct writer, who actively participates in claims alongside clients. Any additional fees, such as closing fees or expedited return fees, are disclosed upfront, ensuring that what you see is truly what you get.
5. Generous Compensation for Partners
We value our partnerships and offer generous compensation structures for those who bring their clients to SRA. Our residual model rewards partners for each new premium dollar contributed to their clients’ plans, fostering a mutually beneficial relationship.
6. Active Lobbying Efforts
SRA's leadership has established an industry non-profit, The 831(b) Institute, to build grassroots support for the 831(b) initiative, achieving notable results. The Institute has been featured in various industry publications and local and national media. Additionally, our leadership actively participates in Minicap, a lobbying group dedicated to educating Congress on the benefits of 831(b). Our goal is to make 831(b) as widely utilized as the 401(k) and to establish it as a standard business practice.
Conclusion
At SRA, we are committed to providing unparalleled service and support to our clients while advocating for the future of the 831(b) landscape.