SAN DIEGO, Sept. 21, 2005 (PRIMEZONE) -- Retirement Capital Group (RCG) today announced aggressive plans to increase its consulting practice nationwide. RCG's 2006 Strategic Plan focuses on opening consulting offices in the major cities of Los Angeles, San Francisco, Dallas and Chicago.
Three motivating factors contribute to RCG's expansion plans. First, with the adoption of 409A deferred compensation legislation, many organizations have been re-designing their plans to conform with the new laws. RCG's unique business model gives these organizations a competitive advantage in the market place today by zeroing in on specific deferred compensation techniques. "With Sarbanes Oxley and tighter corporate governance, companies need transparency in how they fund their nonqualified executive benefit obligations. RCG, through our diagnostic evaluation process, has saved companies hundreds of millions of dollars by opening the black box. Our new industry business model is a paradigm shift to what others offer," says Bill MacDonald, RCG's Chairman, President and CEO.
Second, RCG and its founders no longer have non-compete restrictions. Mr. MacDonald, the founder of Compensation Resource Group (CRG), was under non-compete restrictions through September 6, 2005 which limited his flexibility within the industry. The non-compete restrictions were part of his agreements on the sale of CRG to Clark Consulting in 2000. "I am personally excited that I can practice in this new environment without restrictions. Our new business model was developed with a clean piece of paper, knowing the pitfalls in our old business model. We believe RCG is positioned to offer considerable value added over the proposition of the previous model," MacDonald says.
Third, RCG has enjoyed increased revenues and profitability over the last twelve months, with revenues for 2005 up 250%. "Our growth in revenues is a clear sign that our business model is working. We have provided real value-added solutions to our clients at a fraction of the cost of old model funding concepts," says MacDonald.
About Retirement Capital Group
RCG offers nonqualified executive benefit consulting services in the area of plan structure, design, benefit security, funding, implementation, and administration. RCG's unbundled approach is a paradigm shift, providing companies access to proprietary and creative solutions, the highest caliber of experts in the executive benefits marketplace, and a network of third-party administrators. RCG's corporate headquarters is located in San Diego, California.