About Us
Delegate Your Qualified Plan Administration with Confidence
For employer-sponsored retirement plans—including 401(k), 457, 403(b), ESOPs, and defined benefit plans—Admin316 serves as an independent fiduciary partner. We offer plan sponsors the option to appoint an experienced, external expert to assume full ERISA 3(16) fiduciary responsibilities.
By formally accepting this fiduciary role, Admin316 relieves internal executives and staff from the associated duties and liabilities, allowing them to focus on their core responsibilities. Our comprehensive service model makes us one of the most robust and capable retirement plan administration firms in the industry.
Our Commitment
Reduce Your Fiduciary Liability by Up to 98%
By naming us as your plan’s trustee and co-administrator, we take on nearly all fiduciary responsibilities—dramatically reducing your personal liability. Aside from ensuring timely contributions and providing accurate data, your obligations are minimal. We handle the rest with precision and care.
We Oversee 99% of Your Plan’s Day-to-Day Operations
From processing participant loans and hardship withdrawals to implementing investment changes and signing Form 5500, we manage nearly every aspect of daily plan administration. You can count on us to serve as your listed fiduciary and keep your plan compliant and running smoothly.
Cut Plan Costs by 32% to 65% Since 2005
Our clients consistently experience substantial cost savings. Through routine annual benchmarking, we help you maintain a lean, competitive, and efficient retirement plan strategy year after year.
Distinctive Approach. Proven Results.
Our objective is to support you in doing what you do best, which is expanding your company.
Our exclusive offerings are 402(a) listed trustee and full scope 3(16) administration. We will ensure that your retirement plan is effective and compliant, and that your employees view it as a benefit.We are gonna visit companies that administer pension plans.
Doug McCarthy, CRPS, CPFA
Managing Partner
As Managing Partner, Doug sets the vision for the company and plays a lead role in advising companies on offering best in class corporate retirement plans for their employees. Doug also works with individuals to create goals, set a course of action, and monitor the ongoing retirement planning.
In addition to his 25 years of experience Doug has extensive experience in retirement planning, business succession planning, and estate tax planning. Doug also follows the technological advances closely to ensure that Madison Financial’s clients have the technology that provides the most comprehensive solutions.
Doug has a passion for youth sports and works with the team at Upstate Sports in Simpsonville where he assists with everything from registration, evaluations, team setting, schedule creating and day to day operations for both basketball and soccer leagues that annually have approximately 100 teams participating in all leagues. Doug also enjoys playing golf with his son Palmer, watching his daughter Campbell swim at Gardner-Webb University, and spending time with his wife Katie.
Palmer McCarthy
Financial Planning Associate
Palmer McCarthy is a graduate of Clemson University where he earned a degree in Finance in the Spring of 2025, emphasizing in Financial Planning. Since 2022, Palmer has worked alongside the partners at the firm, gaining valuable experience through internships and professional roles that have shaped his understanding of the financial services industry.
Palmer is passionate about helping clients build strong financial foundations and achieve long-term goals through thoughtful planning and collaboration. His attention to detail and commitment to client success are evident in every interaction. He is excited to continue growing with the team and making a meaningful impact in the lives of those he serves.
Legal / Disclaimers
Madison Financial acts only as your ERISA 3(38) investment fiduciary. Admin316 acts only as your ERISA 3(16) administrator. Each party is responsible for the functions delegated to them. This arrangement does not transfer all fiduciary responsibility from you as the plan sponsor, unless explicitly delegated in writing.
