Retirement Playbook Inc. has provided its retirement plan adviser search service regionally for the past two years and is expanding it nationally, according to Trisha Brambley, chief executive of Retirement Playbook.
The service offers development of a customized short list of retirement plan investment consultant/adviser candidates for plan sponsors that want to do a review of retirement plan investment consultants/plan advisers on their own but need help developing a list of candidates. Plan sponsors that request the service can receive contact information for up to three advisory firms in their region that specialize in plans of their size.
This service is free to the plan sponsor and free to the advisory firm.
“For the plan sponsors who have the time and expertise to do an investment consultant/plan adviser due diligence review themselves, the first step is developing a list of candidates,” Brambley tells PLANSPONSOR. “Very often, the plan sponsor will get the names from the recordkeeper, who will in turn provide them with candidates with whom they have a good business relationship. We round out that list of candidates by providing contacts of advisory firms in [a] region.”
From there, plan sponsors can complete the vetting and analysis or engage Retirement Playbook for additional services for a fee. The company’s Getting Started package includes a tailored request for proposal (RFP), as well as hosting a committee meeting (possibly with an Employee Retirement Income Security Act (ERISA) attorney) to agree on objectives, explore best practices, learn more about what is available from the investment consulting/advisory firms and help develop and refine a candidate list of up to 20 potential firms. (This is a one-time, fee-based project.)
Retirement Playbook can conduct a thorough investment consultant/adviser due diligence, which would, if desired, include the incumbent. “We have done the complete Advisor Search Project from start to finish for many plan sponsors, ranging in size from $25 million to $3 billion of plan assets,” Brambley says, adding that there is also a one-time fee for the project.
For more information, contact Retirement Playbook through its website or call Brambley at (215) 297-5494.
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