Hidden 401 (k) fees for group practice owners can quietly drain retirement outcomes, and many practice leaders never see a real invoice. In this episode of Your Group Practice, Dan King sits down with Paul Sippil, a forensic retirement consultant known as the “401k vigilante,” to unpack how plan fees actually work, where they hide, and why healthcare and other professional service firms are often hit the hardest. Paul explains how public Form 5500 filings can reveal the true service charges inside a plan, and why “out of sight, out of mind” is exactly what some providers count on. You will hear how asset-based fee models can punish high balance participants, often the owners, without adding any meaningful increase in service. Paul also clarifies the major players involved, advisory, recordkeeping, administration, and custody, and what each is supposed to do, so you can separate real value from vague jargon. Key takeaways include, how to look up your Form 5500 and spot red flags, why fixed fee pricing is often more aligned with the work being done, how revenue sharing and “credits” can mask conflicts of interest, what fiduciary responsibility actually means in day to day plan decisions, and the simplest next step you can take this week to pressure test your current setup. If you lead a group practice and want a clearer, fairer retirement plan for your team, start here and take action. Transform Your Group Practice Actionable insights for practice owners and clinicians who want to lead, grow, or exit with purpose. This is the podcast shaping a stronger mental health system — one practice at a time. Subscribe and listen to more episodes: https://yourgrouppractice.com/ Want to be a guest? Reach out: info@yourgrouppractice.com About the Host Dan King is a lawyer turned private equity founder with a passion for fixing burnout in mental health. With a background in M&A, Shark Tank deals, and psychology, he now leads Fireside Strategic — investing in group practices that put people first. LinkedIn: linkedin.com/in/danmking Website: firesidestrategic.com
