Use the Right Data
All of Fiduciary Benchmarks’ data is obtained directly from the source – the Recordkeepers, TPAs and Advisor/Consultants that know the plan best. The data is 90 days or less old when obtained, is reviewed for accuracy, and is comprehensive in that it includes fees, services, support and participant success measures.
Apply an Expert Method
Fiduciary Benchmarks’ proven method focuses on building apples-to-apples benchmark groups of similar plans by service provider, using high-quality data and providing a balanced assessment of the relationship between value and fees.
Consider the Best Information
Fiduciary Benchmarks reports are designed to be simple, transparent and practical. The reports provide concise information and actionable intelligence that support sensible decision making. The reports and the process used to review them can be part of a prudent ERISA required review of fee reasonableness.
With that said, we realize that Plan Fiduciaries also have different approaches as it relates to satisfying their obligations so we have developed a number of different services that adhere to our core principles while allowing for differences in scope and time.
Our Benchmarking Services
Value and Fee Benchmark Report with FEEPOINT® Calculation
Our most detailed report includes plan-specific value and fee benchmarking by service provider. This report is available for the plan or for the individual service provider (Recordkeeper, TPA, Investment Manager and Advisor/Consultant).
Presentation Style - Value and Fee Benchmark Report with FEEPOINT® Calculation
This report is delivered in two PDF’s – a committee ready presentation and a second document with all of the calculations and details. It includes plan-specific value and fee benchmarking by service provider. This report is available for the plan or for the individual service provider (Recordkeeper, TPA, Investment Manager and Advisor/Consultant).
Each chapter follows a simple 5-step method for assessing fee reasonableness as follows:
Customize Benchmark Group
Consider the Quality of your Service Providers
Analyze the Scope of Services and their impact on Plan Costs
Assess Value Delivered to the Plan Sponsor and their Participants
Examine Fees including “extra credit” items
FeeChecker
This service is intended for service providers for fee and service research as well as a “book of business” analysis. It can provide specific plan size data or analyze all of the plans in your firm from a value and fee standpoint to determine where you need to focus your efforts.
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Fee Summary
This service is intended for service providers and can communicate to both clients and prospects on a single page a snapshot of fee reasonableness. It includes benchmark group comparisons as wells FEEPOINT® adjustments and can be created on-demand in just minutes.
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