According to a press release, the signing of M Financial means that more than 800 advisors are, or will be, using the Fiduciary Benchmarks service to provide fee benchmarking services to their clients.
“We are very proud to be offering our benchmarking services to M Financial’s Member Firms,” said Tom Kmak, CEO of Fiduciary Benchmarks. “The signing of this partnership is consistent with M Financial’s objective to make sure their Firms have access to the best possible tools thereby allowing those advisors to provide the best possible service to their retirement plan clients.”
Through this relationship, M Financial’s 800 producers will have access to a benchmarking report for their clients by simply having their clients sign a one-page form authorizing the benchmarking study, according to the announcement. The form is then sent to Fiduciary Benchmarks who works with the plan’s recordkeeper to make sure the data used for the benchmarking service is completely up-to-date, accurate, and consistent, according to the firm.
In addition, M Financial is partnering with BlackRock to provide training, marketing, and “value added resources” to M Financial’s 800 producers. “BlackRock is uniquely positioned to help defined contribution advisors better understand the benchmarking reports and turn the data into meaningful and impactful insight that plan sponsors value,” says Joe Lee, Head of Advisor-Sold Distribution at BlackRock. “We consider ourselves an extension of their team.”
More information on the Fiduciary Benchmarks service is available at http://www.fiduciarybenchmarks.com.