Broker Check

Bench Marking

BENCHMARKING a fiduciary act that fulfills the need to keep expenses reasonable relative to the services provided.

Plan Benchmarking Analysis

What services are required by the plan | What services are not appropriate for the plan demographic

Plan Benchmarking Analysis Process

  • Assists with fiduciary obligation to ensure that services are required and/or appropriate and that fees are reasonable.
  • Connects to over 100 bundled and unbundled record-keepers and TPAs giving our clients access to the “best-in-class” vendors.
  • Handles start-up to the largest of plans.
  • Hundreds of data points are compiled, scored and analyzed.
  • Side-by-side comparison is provided for thorough and transparent perspective.

Live Bid vs Average Graph

  • Average fee benchmarking is based on a national average plan design and demographics.
  • Live bid benchmarking is based on your exact plan design and demographics.

Planned Benchmarking Analysis Process

Planned Benchmarking Analysis Graph

Which Way Do We Go?

Benching Marking or RFP

Bench Marking Benefits

Stay with your current provider

  • Potential negotiated outcomes
  • Lower fees
  • Enhanced investment lineup
  • Enhanced services

Bench marking graph

RFP Benefits

Considering a new provider

  • Expanded list of providers
  • Additional qualitative analysis
  • Finalist presentations
  • Site visits
  • DCP studies
RFP Graph

Overview of Industry Fees

Industry Fees Overview Graph