Provider Management

We advocate on our clients’ behalf and lead in evaluating your provider’s service quality, conduct custom benchmark reviews of provider fees and services, and negotiate to secure improvements and procure optimal service and cost structures.

Provider Evaluation and Search Consulting

As prudent fiduciaries, many clients seek our assistance to objectively evaluate provider relationships. We excel at determining if a change in providers is needed or in validating that the current provider’s services, support structure and fees are and remain an optimal solution.

We lead all aspects of the evaluation/RFP process and are a key resource and client advocate through any service and fee negotiations and change implementations.

Plan Fee and Compliance Monitoring

The 408(b)(2) fee disclosures have placed a heightened focus on qualifed plan fees and compelled plan sponsors to seek assurance and validation that they are not being charged excessive fees. We believe a plan expense benchmarking study must go beyond evaluating plan investment revenue sharing and service agreements. We include a comprehensive analysis that fully evaluates whether the current level of plan services and support are sufficient and competitive – and negotiate improvements for all clients.

Provider Service Review and Support Team Assessment

Our expertise in understanding providers’ capabilities and support allows us to effectively negotiate broader resources than clients typically received prior to our engagement. We advocate for our clients to make certain their providers produce consistent and quality results and if they are not, we help identify process changes that drive better results for our client and their provider.

Our provider management support results in a higher functioning and cost effective relationship for our client and a stronger partnership with their provider.

Our services include

Provider evaluation, RFP/RFI and search consulting

Plan fee and compliance monitoring

  1. Custom plan fee benchmarking services
  2. Provider fee negotiation
  3. 408(b)(2) and 404(a)(5) compliance assessment
  4. ERISA expense account monitoring

Provider service review

  1. Support team assessment
  2. Service quality monitoring
  3. New service and enhancement assessment