Fiduciary Benchmarks Launches New Service for NRP Clients

Fiduciary Benchmarks, Inc. (FBi) partnered with National Retirement Partners (NRP) to offer NRP clients annual plan fee, service, and success measure benchmarking.

FBi said in a release it is establishing non-proprietary plan data to be aggregated and analyzed to provide financial advisers, consultants, and plan sponsors with benchmarking information, via FBi’s Benchmarks Plus and Benchmarks Basics reports.

According to the release, features of the reports include fee transparency and comparison against a benchmark universe of plans; service comparison against a benchmark universe of plans; success measure comparison against a benchmark universe of plans; plan complexity and outsourcing benchmarking; best practices and fiduciary oversight benchmarking; and satisfaction survey benchmarking.

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The reports are expected to be delivered to clients beginning early 2009, the release said.

“NRP wanted to take a leadership position relating to fee disclosure and benchmarking,’ said Bob Francis, COO of NRP, in the release. “The level of detail and analysis available via the FBi reports will greatly assist NRP advisers and their plan sponsor clients in addressing the increasing level of scrutiny for industry fees and services.’

FBi will be supporting NRP’s data warehousing initiative by providing data for use in product development, management reporting, and sales reporting, according to the release. FBi said it intends to make the service available to other clients in the future.


More information is available at www.fiduciarybenchmarks.com.

OppenheimerFunds Drops Fees for Retirement Services Platforms

OppenheimerFunds, Inc.'s Retirement Services announced enhancements to its Pinnacle and Record(k)eeper Pro retirement programs.

OppenheimerFunds said the enhancements eliminate installation fees and reduce proprietary fund requirements for certain plans. Pinnacle and Record(k)eeper Pro installation fees have been eliminated for all plans with at least $3 million in total assets.

According to a release, for Pinnacle plans, the reduced proprietary fund requirements allow more flexible fund selection and greater diversification among fund managers. The Pinnacle updates include:

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  • Plans with $500,000 or less in total assets: 10 of 20 funds may be from outside managers.
  • Plans with $500,000 to $3 million in total assets: 14 of 20 funds may be from outside managers.
  • Plans over $3 million in total assets: no requirements.


More information is availabe at www.oppenheimerfunds.com.

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