TRI-AD has provided full fee disclosure since the early 1990s, but will now formalize that arrangement in the form of a contract certifying that all revenue collected is fully disclosed to the plan sponsor and financial adviser, according to a press release.
The Escondido, California-based firm says that all revenue sharing TRI-AD collects is fully disclosed and rebated to offset administration and recordkeeping expenses, and that TRI-AD does not receive any additional compensation either for having multiple plans with a single custodian or for using specific investment options within a given plan.
The firm says that as a result, plan fiduciaries know that all fees have been disclosed and that participants’ interests are always being served – and because understanding and managing plan fees and expenses is a key fiduciary responsibility, TRI-AD’s full fee disclosure guarantee helps their clients mitigate the personal liability associated with having a fiduciary obligation to the plan.
TRI-AD was founded in 1974 as a defined benefit plan administration firm, and over the years has grown service offerings to cover a complete range of benefit administration services. According to the firm, TRI-AD is currently the largest privately-owned benefits administration firm in Southern California, with over 1,000 clients nationwide.
For more information, visit www.tri-ad.com.