We’ve looked at the best practices in fee benchmarking, and how to use the industries’ most cutting-edge technology to impress prospects and clients. With just a few clicks, advisors will be able to create beautifully crafted reports that shed light on the various components that make up a retirement plans total cost.
The Prism365 Advisor Fee and Services report helps advisors justify their fees and services by creating accurate, on-demand, and revealing fee benchmarking reports in less than two minutes.
The PlanFees Prism365 benchmarking report compares the delivery and frequency of fifteen essential fiduciary services, such as investment menu selection, 3(21) and 3(38) services, live bid provider searches, employee education, and financial wellness.
Maintaining reasonable fees is one the most important fiduciary duties of a retirement plan sponsor, but how do you determine what "reasonable" really means? Retirement plan advisors have spent countless hours trying to solve this riddle. Whether it’s through a live-bid RFP report or an annual benchmarking tool, advisor’s need to consistently monitor what their client is paying to ensure the best outcome for the sponsor and participants of the plan.
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