DC Benchmarking Services
Fiduciary Benchmarks provides the industry’s most comprehensive Defined Contribution Plan Benchmarking Suite of Services.
IRA Rollover Suite of Services
The IRA Rollover Best Interest Determination Service presents 16 different factors to consider, besides fees—things such as retirement planning issues, investment flexibility issues, how you want to take your money in retirement, annuities versus loans versus bankruptcy issues. While the tool was initially developed to help comply with the DOL Fiduciary Rule, it can also be used to follow FINRA Regulatory Notice 13-45 when recommending rollovers to an IRA. For the vast majority of advisors already working in their clients’ best interest, the tool can help document that their recommendations are in the best interest of their clients. The tool also offers full compliance reporting and workflow oversight.
Also in development is our benchmarking practice for IRAs. We’ll take what we did for Defined Contribution (DC) plans and move it over to the IRA side.
The final service to be rolled out is related to IRA services is an analysis of level fees versus commissions. It will be important for advisors to have a way to show a client a commission versus level fee analysis to help objectively determine which is better.
Fiduciary Benchmark’s Suite of IRA services can significantly reduce the risk of missing and complying with the implementation deadlines for a very affordable cost. The service also provides the opportunity to maintain revenue while acting in the best interest of the client.
“Change is Opportunity”. In this video interview, Craig Rosenthal, SVP of Fiduciary Benchmarks discusses with PLANADVISER® talks about how the Fiduciary Rule may create new opportunities for both Advisors, Sponsors and ultimately better retirement outcomes for investors.