NAPA Net - Polling Places 09157

How Much Fee Differential Justifies a Provider Move?

While we know it shouldn’t be all about fees, it’s clear that fees can – and should – have an impact on provider selection. This week, we’d like to know about the role they play in your provider recommendations.

Question Title

1. What basis point difference do you feel justifies changing providers?

Less than 10 BPS

10-15 BPS

20 – 25 BPS

More than 25 BPS

15-20 BPS

Not a primary factor

Something else (please specify)

Question Title

2. How do you GENERALLY respond to the pricing variables promoted by recordkeepers, e.g. use of proprietary TDFs, or Guaranteed Accounts, QDIA to managed accounts?

Depends on the situation/client

Present the offers to your clients after explaining how the pricing levers work.

Not a factor recently

Reject the offers because of the possibly unfair impact on head-to-head pricing comparisons

Something else (please specify)

Question Title

3. Have you seen any shifts in how providers position/reposition their offerings/incentives/pricing since the advent of the fiduciary regulation?

Among some, not all.

Among most, not all.

Lots

Not really.

Some, not much.

Other (please specify)

Question Title

4. Do you find that plan sponsors are (check all that apply):

Relying on a third party benchmark

Memorializing fees in a separate fee policy

Completely unaware of the need to document the fee/process

Formally documenting their fees in committee minutes,

Conducting RFIs as a way of benchmarking

Something else (please specify)

Question Title

5. Which ONE of the following do you find to be most common among the plan sponsors/prospects you work with:

Completely unaware of the need to document the fee/process

Memorializing fees in a separate fee policy

Relying on a third party benchmark

Formally documenting their fees in committee minutes,

Conducting RFIs as a way of benchmarking

Something else (please specify)

Question Title

6. Any other comments about fees, pricing, pricing incentives, formal processes to review fees, the trends in documenting that prprocess, or life in general?

Question Title

7. What is your role working with retirement plans?

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

Question Title

8. What size plans do you PRIMARILY work with?

Under $10 million in assets

$10-$20 million

$20-$50 million

$50-100 million

$100 million - $250 million

$250 million - $500 million

Above $500 million

Other (please specify)

Question Title

9. Suggestions for future survey questions?

Question Title

10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...

Question Title

* 1. What basis point difference do you feel justifies changing providers?

Question Title

* 2. How do you GENERALLY respond to the pricing variables promoted by recordkeepers, e.g. use of proprietary TDFs, or Guaranteed Accounts, QDIA to managed accounts?

Question Title

* 3. Have you seen any shifts in how providers position/reposition their offerings/incentives/pricing since the advent of the fiduciary regulation?

Question Title

* 4. Do you find that plan sponsors are (check all that apply):

Question Title

* 5. Which ONE of the following do you find to be most common among the plan sponsors/prospects you work with:

Question Title

* 6. Any other comments about fees, pricing, pricing incentives, formal processes to review fees, the trends in documenting that prprocess, or life in general?

Question Title

* 7. What is your role working with retirement plans?

Question Title

* 8. What size plans do you PRIMARILY work with?

Question Title

* 9. Suggestions for future survey questions?

Question Title

* 10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...

1. What basis point difference do you feel justifies changing providers?

2. How do you GENERALLY respond to the pricing variables promoted by recordkeepers, e.g. use of proprietary TDFs, or Guaranteed Accounts, QDIA to managed accounts?

3. Have you seen any shifts in how providers position/reposition their offerings/incentives/pricing since the advent of the fiduciary regulation?

4. Do you find that plan sponsors are (check all that apply):

5. Which ONE of the following do you find to be most common among the plan sponsors/prospects you work with:

6. Any other comments about fees, pricing, pricing incentives, formal processes to review fees, the trends in documenting that prprocess, or life in general?

7. What is your role working with retirement plans?

8. What size plans do you PRIMARILY work with?

9. Suggestions for future survey questions?

10. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...