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Vendor Management

We have relationships with a variety of reputable vendors and will engage with vendors to help implement and achieve your plan goals. Vendor management involves a meticulous selection process that considers factors like cost, services offered, investment options, technology capabilities, resources for the plan and employees, and the provider's reputation.

Client Centered

Here's what we can help you with:

Vendor Due Diligence Process

Rigorous due diligence is critical to ensure providers meet regulatory compliance, have a strong financial standing, and possess the necessary knowledge to effectively manage retirement plans. This involves a Request for Proposal (RFP) comparison where we assess their track record and review their organizational structure.

  • Ongoing Monitoring: After selecting and contracting with vendors, continuous monitoring is essential to ensure they adhere to the agreed-upon terms and provide quality services. This involves reviewing regular reports, conducting periodic audits, and assessing performance against established benchmarks.
  • Vendor Replacement Strategy: In the dynamic 401(k) landscape, having a vendor replacement strategy is important. This includes identifying triggers that might necessitate a change in vendors, such as changes in regulations, poor performance, or shifts in the provider's business model. A well-defined strategy streamlines the process of transitioning to a new vendor while minimizing disruptions to plan participants.
We're here to help you every step of the way.

We're here to help you every step of the way.

Reach out to us now to learn more!

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