With PlanFees, tasks that used to take hours can be completed in minutes — and price quotes that used to take weeks can be generated in under 24 hours. That gives you a valuable opportunity to enhance your level of service and build your practice. Here are just a few things you can do with all the time you’ll save.
Build your book. An advisor’s foundational work of building a client base is never ending. Put time saved benchmarking into exploring new market opportunities, cold calling, email outreach, appointment setting, conducting prospect meetings and crafting compelling presentations to win new business. You can also increase your community involvement — either through financial education programs, sponsorships, mentorship opportunities or volunteer work, which can also serve as an indirect method of networking and brand building for your practice.
Improve participant education. Enhance the quality, frequency and delivery of one-on-one meetings and group education sessions. Update and refine your presentation materials, ensuring that employees have the latest, most relevant information at their fingertips. Create additional written or video content on topics of interest to participants.
Support plan sponsors. Offer additional fiduciary guidance and education to employers. Provide more frequent check-ins and enhance client engagement and retention by developing personalized communication strategies tailored to individual employers’ needs.
Integrate new technologies. Focus on integrating technologies that can automate time-intensive tasks and offer advanced analytics for better decision-making. Advanced CRM systems can automate communication with prospects, manage leads and keep track of client information. RPAG offers a number of comprehensive technology solutions for advisors. With a fully integrated Advisor Portal, all your retirement plan systems, reporting and data are integrated into one easy-to-use platform to help scale your customer service model.
Improve plan outcomes. Conduct market research and analysis, review fund and investment menus and perform portfolio modeling to enhance plan performance. Analyze economic trends and their potential impact on investment returns. Further customize investment strategies to align with clients’ changing needs and goals.
Manage TPA relationships. Address participant concerns, from enrollment queries to distribution requests. Collaborate on plan design, participant education and engagement initiatives to help ensure employees are well-informed and able to make sound investment decisions.
Advance your professional development. Stay abreast of industry and regulatory changes, attend conferences and networking events and obtain important fiduciary continuing education. Or put time saved toward earning a new professional credential or certificate.
Benchmark Better With PlanFees
Fee benchmarking is a necessary fiduciary obligation for retirement plan advisors, but with the right tools it doesn’t have to take up more of your valuable time than necessary. With Prism Total Fees Benchmarking, you can quickly perform an annual fee checkup in between three-to-five-year live bids. And use RFP Express to generate instant quotes from top providers with matching parameters and custom quotes within 24 to 48 hours. Our goal is to provide you with fast, accurate and revealing benchmarking data so you can achieve better plan outcomes and build your book of business.
What will you do with the time you save?
