Advisers will be able to compare a current plan’s funds performance and fees with funds offered on Mutual of Omaha’s product investment platform. FiRM, a third-party application from the Center for Fiduciary Management, includes in its report details for the plan sponsor about how the adviser performed necessary due diligence to provide customized investment solutions. It will also help evaluate whether the plan sponsor is selecting a competitive product with well-performing, low-cost funds.
“At no additional cost, retirement plan advisers affiliated with Mutual of Omaha will have access to FiRM’s comprehensive investment analysis that provides helpful details around the total cost and performance of a product’s investment lineup,” said Chuck Lombardo, president and CEO of Retirement Marketing Solutions, Inc. (RMS), a Mutual of Omaha subsidiary. “This provides credibility and value to the adviser and also relieves the adviser from the expense of purchasing comprehensive market analysis tools or manually generating reports and researching investment performance.”Mutual of Omaha said advisers can demonstrate a commitment to fair and competitive fees by using FiRM to outline the fee structure and how the fees compare with peers. The reports generated will also provide advisers with fund profiles, set benchmarks for funds, translate fund fees into dollar amounts to see bottom line costs, and offer analysis of plan investment choices.