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.

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

Less than 10 BPS

15-20 BPS

Not a primary factor

More than 25 BPS

10-15 BPS

20 – 25 BPS

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?

Not a factor recently

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

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

Depends on the situation/client

Something else (please specify)

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* 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.

Not really.

Lots

Some, not much.

Among most, not all.

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

Conducting RFIs as a way of benchmarking

Completely unaware of the need to document the fee/process

Formally documenting their fees in committee minutes,

Something else (please specify)

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* 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

Formally documenting their fees in committee minutes,

Relying on a third party benchmark

Conducting RFIs as a way of benchmarking

Memorializing fees in a separate fee policy

Something else (please specify)

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

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

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Other (please specify)

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* 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)

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* 9. Suggestions for future survey questions?

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* 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...