Does Your Provider Measure Up? Part Three: Additional Services
It is imperative to measure the quality of service you are receiving from your plan provider. By asking questions about their additional services, you can find out if they are willing to go above and beyond expectations. Are the investment options meeting everyone’s needs? Are they low cost? Is every participant aware of the benefits related to their plan and available investment choices?
The following questions must also be considered when measuring the quality of a plan:
1) Does your plan provider ease the burden of your HR Director?
2) Aside from enrollment meetings, does your plan provider offer live investment education meetings to participants?
3) Do participants have the ability to schedule one-on-one meetings, either in person or over the phone, with an investment advisor at any time?
4) Does your plan provider offer additional services outside of administration?
When reflecting on the services offered, consider whether those services make your life easier and help your employees reach their financial goals. There are many questions to consider when choosing, or reviewing, a retirement plan provider. One must consider the plan structure, fees, and additional services received when evaluating the quality of your provider. This quality will ultimately define the overall value the plan provider can offer your organization.
If you have questions regarding your current plan, contact Rogers Wealth Group. We are happy to review your plan document, investment policy statements, annual statements, or, we can just give you a second opinion overall.