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Whitepaper – Evaluating and Selecting a Plan Advisor

Whitepaper –  “Selecting Service Providers, Competitive Bidding and RFP’s Importance in a Fiduciary Investment by Roger Levy

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In the white paper “Selecting Service Providers, Competitive Bidding and RFP’s Importance in a Fiduciary Investmentattorney Roger Levy explores a plan sponsor’s responsibility in selecting and bench-marking service providers including a plan advisor.

Just as with their record keeper and investment, by law, a company sponsoring a 401(k) or other type of defined contribution plan must follow a prudent process in the selection and monitoring of the plan’s advisor to determine if fees are reasonable in light of the services provided. Also as important, the plan’s advisor should have the capabilities to meet the unique needs of the sponsoring company and their employees.

The advisor usually helps to conduct competitive bidding and benchmark the plan’s record and investments but there is an inherent conflict when it comes to the selection and monitoring the advisor. As a result, plan sponsors delay this process or become frustrated when they try to find the right candidates or try conduct a formal RFP on their own.

Read Levy’s white paper and learn more about third party advisor RFP services at 401kTV’s “Advisor RFP” section and review a list of over 500 experienced plan advisors trained at TRAU (The Retirement Advisor University), a collaboration with UCLA Anderson School of Management, at “Advisor Directory”.

Fred Barstein

Fred Barstein

Founder & Editor-in-Chief at 401kTV | TRAU | TPSU
Fred Barstein is the Founder & Editor-in-Chief of 401kTV. Fred is also the Founder and CEO of The Retirement Advisor University (TRAU), a collaboration with UCLA Anderson School of Management Executive Education and The Plan Sponsor University (TPSU).Mr. Barstein was also Founder and Editor-in-Chief of NAPA Net.
Fred Barstein

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