Friday, March 15, 2013

Retirement Plan Advisor - Reason #3

3. Managing a Request-for-Proposals for Service Providers

The Plan Advisor’s knowledge of the investment industry makes it the logical choice to manage a request for proposals (RFP) for other service providers, such as custodian or directed trustee. The Plan Advisor’s role in the RFP includes:
  • develop the questions contained in the RFP;
  • identify qualified firms to receive the RFP;
  • act as the institution’s main contact with all responding firms, which is essential when the institution wishes to remain anonymous in a “blind” RFP;
  • analyze responses to the RFP;
  • prepare and present a summary analysis of the responses;
  • recommend a course of action to the institution; and
  • facilitate the transition to the new service provider.

View our next blog entry to continue the series. To learn all Seven Reasons for Hiring a Dedicated Retirement Plan Advisor, download our full whitepaper.

If you have any questions about retirement plan services, or would like to begin talking to a dedicated retirement plan advisor, please get in touch by calling (855) 882-9177 or e-mail us at

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