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Conducting an Effective Advisor RFP Process

Best Practices for the Evaluation and Selection of Retirement Plan Advisors

Greg Middleton
Director | CAPTRUST Advisors Support Group

Retirement plan advisors can help plan sponsors select and review retirement plan investment options, stay up to date with evolving regulations, and assist with fiduciary processes. They can also help provide clarity about provider service fees and expenses and deliver participant education or advice. These are all important roles, but how do you find the right advisor? How can you validate that your current advisor is providing state-of-the-art services at a competitive price?

The advisor request for proposal (RFP) appears to be on a fast track to become the preferred method for conducting an advisor search or documenting that an existing advisor is qualified to meet an individual plan’s specific needs. This position paper—with insights gleaned from CAPTRUST’s experience responding to more than 700 advisor RFPs over the past ten years—provides a step-by-step roadmap for executing an effective advisor RFP process that will help you find an advisor suited to your plan and participants’ needs—whether you already have an advisor or are considering hiring one.

For more, please download the full position paper below.

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