Experts in Personalized Retirement Plan Design & Administration

9 Things Sponsors Value Most from Advisors

The relationship between advisors and plan sponsors will be forever changed with the DOL conflict-of-interest rule. But there are some basics that will not change and that many advisors overlook. Based on more than 150 TPSU programs with thousands of plan sponsors — mostly HR professionals at companies with 50 to 1,000 employees, take a look at 9 things they value the most from their financial advisors.  Source:

9 Activities Sponsors Value Most:9

Compliance: As the DOL increases audit activity, it will become increasingly important for the Advisor to ensure that there’s an efficient process in place to ensure the plan is in compliance. If the plan sponsor is confident that their plan is compliant, this frees them up to focus on other aspects of the plan.

Fiduciary Liability: In light of the new DOL Fiduciary Rule, plan sponsors are exceedingly nervous with their fiduciary role. An advisor that guides the plan sponsor through the new rule will add substantial value in the form of confidence and comfort.

Engage Senior Management: Being strategic about working with HR to engage senior management regarding their retirement plan and the readiness of their employees.

Limit Workload: Continuously looking for ways to reduce HR’s workload.

Be Proactive: Don’t wait to be asked questions. Seek to anticipate HR questions and needs.

Bring New Ideas: Being innovative with your service will ensure you rarely lose a client.

Engage Employees: Discovering creative ways to personalize employee retirement readiness.

Utilize Plan Design: Working with a highly credentialed, CEFEX certified Third Party Administrator (TPA) to create a custom plan design (ideally with auto-enroll features).

Investment Review: Providing regular investment reviews is valuable but is becoming increasingly rare among advisors.

Click here to learn what roles an advisor should assume

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