The firm says that this “next generation” of its proprietary benchmarking solution, e401k Proposal, will also “widen the lens on fiduciary optics as sponsors strive to meet heightened fiduciary requirements”.
According to the firm, a “dynamic filtering system” culls criteria on 60+ service providers, which it says enables the advisor to “rapidly and thoroughly select which vendors to include in the RFP, based on his client’s plan demographics”. RPAG says that vendors can complete the bid requests online within the e401k Proposal system with data integrated directly into the report. “Advisors then click one button, and the system calculates total plan costs including investment management fees, revenue sharing, 12b-1 fees, asset charges, administrative and participant fees, and any miscellaneous charges,” according to the firm.
The final sponsor output, a 60-page, presentation-ready report called B3 Analysis (for triple benchmarking of fees, services and investments opportunities), showcases pertinent charts and graphs, and, according to RPAG, “delivers a welcomed user-friendly experience for advisors”.
According to the announcement, e401k Proposal also features more than 400+ data points on services, updated semi-annually in-house, as well as a new Service Provider Narrative section for vendors to promote competitive advantage.
“Because it shaves off multiple days of research and analysis, our new e401k Proposal system saves the advisor priceless time he or she needs to spend with clients,” explains Nick Della Vedova, President. “Unlike other RFP search and benchmarking tools available today, our solution zeros in on fees, services and investments, giving plan sponsors a triple play in better decision-making.”
Retirement Plan Advisory Group has 256 member firms, totalling 600 advisors in 46 states, serving 15,000 sponsors with $50 billion in collective assets under advisement.
More information is available at http://www.retirementplanadvisorygroup.com.