Welcome to the PlanFees Universe

Posted by PlanFees on Dec 9, 2021 9:08:00 AM

Many people wonder — how big is the universe? According to calculations, the furthest visible regions from Earth are about 46 billion light-years away, making the entire universe nearly 92 billion light-years in diameter. That’s big! And what’s more, it could take a lifetime of study just to begin to understand its workings. But luckily, when you’re talking about the PlanFees benchmark universe, you don’t need a degree in astrophysics to grasp all that it can do for you. Because when it comes down to it, the biggest question for your plan sponsors isn’t how big the universe is, but rather where their retirement plan exists within it. Our powerful tool enables you to give them a quick and easy answer.

PlanFees is a revolutionary, two-minute retirement plan benchmarking platform that allows advisors like you to quickly and easily gauge the reasonableness of 401(k) fees based on just a handful of data points. You can instantly see whether a plan’s fees are low, average or high relative to similar plans — all with just a few clicks. But how can we do this?

Our innovative platform harnesses the power of a proprietary database of more than 70,000 retirement plans with more than half a trillion dollars in total assets. Powered by RPAG, the industry's leading retirement plan practice management platform, the PlanFees data universe is derived from actual live bids generated within the past three years and vetted by our retirement plan experts. This is critical, as the validity of any benchmark is only as good as the accuracy and relevance of the data underlying it.

When you generate a PlanFees report, you can trust that you’re getting a reliable, accurate benchmark to share with clients or prospects. Plus, reports are fully customizable to plan size and number of participants, ensuring a true, apples to apples comparison.

Use the highly accurate PlanFees Prism benchmark to start a conversation with prospects who may not realize how much their organization and employees are actually paying in fees. Without this knowledge, plan performance for participants may suffer, and plan sponsors may even find themselves vulnerable to a 401(k) lawsuit.

The companion to PlanFees Prism, Prism365, takes a deeper dive into breaking down advisor fees and services. Prism365 data comes from a survey of approximately 1,500 RPAG and other retirement plan professionals across the country, representing a wide cross section of industry practitioners. Our intuitive app allows you to specify the different types and frequency of services, including investment analysis, fiduciary services and employee engagement offerings. This allows you to have better, more productive conversations with clients and prospects about their needs and how you can best service them.

PlanFees subscribers have powerful tools at their disposal to help clients make more informed business decisions, produce better plan outcomes and grow their book of business. With unlimited access to the platform, you can provide clients a clear and convenient annual benchmark, easily conducted in the interim between 3- to 5-year live-bid proposals. The data can help you better communicate the full scope of your advisory services and substantiate the value you provide.

The universe is a pretty big place, and much of it is inaccessible to us in a conventional sense. But if you’re a PlanFees subscriber, a vast universe of data is available at your fingertips — without needing a ticket to board the next SpaceX flight.

Benchmark better, with PlanFees.

Topics: PlanFees, Benchmarking