Best Practices for Selecting and Monitoring Your 401k Plan Advisor. Many 401k and 403b plan sponsors are confused about how to find, select and monitor their advisor. The best practice is to conduct a thorough RFP (request for proposal) using an unbiased experienced third party like InHub.
But smaller plans may not have the time or resources to go through an advisor RFP. So we have devised a simple, common sense method on how to select and monitor a 401k or 403b plan advisor which consists of three basic elements called the ELI rating:
- E = Ethics
- L = Leadership
- I = Impact
Watch my weekly Vlog to learn more about these best practices.
