/ by Craig Rosenthal

Are Your Plans Overdue for a Check-up?

If your plan sponsor clients are not reviewing their plan reasonableness on a regular basis, then you are missing out on major opportunity to help them mitigate fiduciary risk, improve plan results and protect your business.

According to the Center for Disease Control, 88% of Americans between the ages of 45-64 have seen a health care professional within the last 12 months.[1] So, what does that have to do with retirement plans you ask? Well nothing, but employers often ask, “How often should we do a “check-up” on our 401(k) plan?”

The Department of Labor (DOL) recommends benchmarking about every three years. Of course, there are also best practices which indicate plans greater than $100mm should be benchmarked annually. For plans with assets between $10 – $100mm, they should benchmark every other year and plans less than $10mm every three years. However, benchmarking can also occur as often as needed to ensure … Read More

/ by Matt Golda

Love It or Hate It, Time Tracking is Important for Retirement Plan Advisors

Love It or Hate It, Time Tracking is Important for Retirement Plan Advisors

Have you ever looked up from your work, glanced at the clock to astonishingly find that it is already 5:00 pm? In that moment, you can’t help but wonder, “Where has the day gone?” It feels like you were just debriefing from your 10:00 am meeting and now another day is coming to a close.

Whether you are preparing for an annual committee meeting, meeting with wholesalers or responding to RFPs, monitoring how you spend your time is important. Which is why, actively practicing your time management skills during the working day is crucial to the productivity and health of your retirement plan practice.

Believe it or not, effectively tracking your time leads to generating more revenue for your firm. Think about it like this: You have contracted 12 hours per quarter dedicated to ABC Company from back-end plan administration to committee meetings. However, if a client is requesting more of your … Read More