Benchmarking solutions like PlanFees Prism Total Fees Benchmarking, Prism365 and RFP Express help advisors offer fast, accurate and actionable fee insights to clients. These revolutionary tools deliver impressive results because they’re powered by RPAG, the premiere retirement plan practice management platform, with advisor members serving more than 120,000 plans and $1.5 trillion in assets under influence.
But when is it time for an advisor to take the next step in their professional development by considering investing in these game-changing resources? Several indicators may point to your readiness to leverage the unique client deliverables, custom investments, target date funds, turnkey solutions, world-class training and fiduciary support RPAG offers its members.
Inefficient processes and lack of scalability. As advisors build their book, some struggle with manual or outdated processes for managing retirement plans and find it difficult to scale efficiently due to technology and time constraints. When that happens, they look for tools and support to drive practice management efficiency and solutions that will allow them to focus on providing a superior level of client service and break through growth plateaus.
Need for a more customized offering. As fee compression continues to exert influence across the industry, advisors are seeking more tailored investment solutions to differentiate their offering, meet diverse client needs and support a higher tier of service. They may want to offer more detailed client reporting and analysis than they’re currently capable of delivering.
Desire to gain a competitive edge. Some advisors are looking for specialized training, networking and educational opportunities to enhance their expertise and want access to the kind of professional development and peer-to-peer collaboration RPAG provides. Advisors struggling to effectively promote their services in a highly saturated industry appreciate the advanced sales and professional marketing support available. WellCents, RPAG’s financial wellness solution, gets advisors in front of more employees and allows them to provide a service that’s in high demand across the industry.
Assistance servicing more complex plans. Advisors turn to RPAG for support to navigate complex ERISA and other regulatory compliance requirements. They may need more advanced tools for investment analysis, data-driven decision-making and innovative, cutting-edge investment options. With plan complexity also comes the need for a more integrated technology platform to streamline advisory operations.
Next-gen Solutions for Forward-thinking Advisors
While the PlanFees toolkit provides an instant advantage for advisors looking to enhance their service, those aiming to provide a holistic and flexible offering that sets them apart see tremendous value in RPAG’s comprehensive technology platform and advisor support. If you’re experiencing growing pains in your advisory practice or want the tools to rapidly accelerate growth, please reach out to us.
