Provider Analysis Unique Differentiators
Benchmarking the fees, services, and investments of service providers is a systematic process that takes 4–8 weeks on average, and it begins with the gathering of your plan's demographics. The identification and selection of potential bidding providers is based upon the matching of your goals and objectives with their respective capabilities. Providers then complete detailed questionnaires that allow us to compare more than 400 data points to be published in one succinct report. Provider finalists are selected, and are reevaluated after their presentations based on their potential fit with your organization. Other factors, including the relative strength and balance of their services, investments, and competitive fee structure, are taken into account when making this selection.
This RPAG Provider Analysis represents the three cornerstones of 401(k) plan benchmarking: fees, services, and investment opportunities. We have identified provider solutions that deliver a balance of high-quality services and investments at an exceptionally competitive cost.
Our objective is to allow you, the plan fiduciaries, to make educated and informed choices of recordkeeping and investment providers for your plan.
Remember, the key to a comprehensive analysis and provider comparison is balancing the discussion of fees, services, and investments. There are dozens of factors that impact plan pricing, including the number of eligible employees and plan participants, average account balance, plan design features, investment philosophy, and specific plan (provider) services. Therefore, the only accurate benchmarking method for plan fiduciaries is an interactive, direct “provider-to-provider” benchmarking process. This is exactly what we offer with the RPAG Provider Analysis.
We provide integrated benchmarking and RFP reports that enable your clients to evaluate their plans, fees, services and investments.
- Most widely used RFP/benchmarking system in the U.S.
- Live bid process to let the market determine reasonable fees
- Bundled and unbundled recordkeeping and TPA platforms
- More than 100 provider platforms
- Analyze provider capabilities via a pre-populated 400 data point questionnaire
- Prospect through project-only work