One of the most challenging aspects of doing an ERISA Plan Advisor RFP is finding the right cultural fit. Yes, you want an advisor that is experienced, respected, and qualified. You need to ask some basic qualifying questions that are quantitative in nature. For example, total number of clients, number of plans, assets under management, average client load and similar questions. But asking questions that help identify the differences between specific ERISA advisors … now that’s a challenge.
In addition to being challenging, it is a big responsibility. Choosing a plan service provider is generally considered a fiduciary act. Adequate documentation is also a key part of the process. Simply retaining the RFP responses does not tell the whole story. You need to document the entire process.
Whether your plan has just a few participants and several million dollars or thousands of participants and a billion dollars, we offer a scalable, affordable framework to help you find the right advisor for your company.
For plans over $10 Million in assets
Leveraging a comprehensive and customized approach, we implement a robust framework for a thorough fiduciary process in selecting a third-party service provider. The process will identify top advisors with the precise expertise to manage plans similar to yours, with an eye towards a thorough documented due diligence process and matching you to an advisor team that is best suited to your specific needs.
Custom Advisor RFP Solution Includes:
Identify desired advisory services
Regarding ERISA 3(21) vs ERISA 3(38) advisors
with ERISA Advisor Teams
Turn 401(k) industry speak into terms you understand
Focus on your specific needs
Capture your prudent process and due diligence
For plans under $10 Million in assets
Our easy, budget-friendly RFP solution offers a streamlined process to find and vet advisors who specialize in ERISA Plan fiduciary services and provide an excellent solution for plans under $10 million. This RFP service is designed to help you fulfill your ERISA fiduciary responsibilities and find an advisor that is a good fit for your specific needs with an eye towards time and cost efficiency.
Streamlined Advisor RFP Solution Includes:
Teams meet the following criteria:
Advisor RFP responses provided for retention and documentation of your fiduciary process
We customize our range of services to suit your unique needs. Have a question? Contact us to learn more.
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