Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Products October 7, 2013
Fee Benchmarking Goes Digital
Financial reporting and benchmarking firm FRA PlanTools
released an iPad app aimed at providing a fast and cost-effective way for plan
advisers and sponsors to access and compare retirement plan costs and fee data.
Reported by John Manganaro
The app provides subscribers with a single page, multi-category benchmarking report that captures a list of documents and reports needed to assess fee reasonableness. Users can also employ the app to support Employee Retirement Income Security Act (ERISA) 408(b)(2) compliance efforts and establish a procedurally prudent fee assessment process, designers said.
App users must complete a brief input survey to generate the customized reporting.
Current FRA PlanTools subscribers are eligible for a free report through October 18. The reporting tool can also be purchased through Apple’s App Store.
A model report is available here.