NAPA Net - Polling Places 022621

Are You Due For a Fee Review (or Two)?

A recent survey of large plan sponsors suggests a surge in interest in conducting a fee study this year – how about the ones you work with?

Now we all know that actions speak louder than words – and the survey was dominated by the perspectives of rather large (>$100 million in assets) – but fees, or at least concerns about fees, seem to be a continued focus – of litigators, if not plan sponsors – and, while the year is young, as we near those Q1 reviews, it seems like a good time to look ahead.

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* 1. So far as you know, how many of your plan sponsor clients are considering a fee review this year?

None.

Maybe 10%

Somewhere between 10% and 25%.

At least half.

Could be as many as 75%.

More than 75%.

Every single one.

Any comments?

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* 2. Generally speaking, will those reviews be at their instigation or yours?

Mine, all mine.

Theirs almost exclusively.

About 50/50.

Not sure yet.

Any comments?

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* 3. Regardless of the instigation point, how often do you conduct/recommend fee reviews (generally speaking)?

Every year.

Every other year.

Every third year.

It's actually kind of random.

It varies widely.

Now that you mention it, never.

Only as part of a comprehensive service review.

Any comments?

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* 4. OK, last question; how're you doing (check all that apply today)?

I'm good.

I'm great.

I'm hanging in there.

There are good days & not-so-good days.

What day IS it, anyway?

I'm as good as can be expected.

want to expand on that?

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* 5. Other comments about reviews, fee reviews, the timing of fee reviews, the need for fee reviews, the lack of need for (separate) fee reviews, the interest (or lack thereof) in conducting fee reviews, or life in general?

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

Advisor

Provider

TPA

Plan sponsor

Recordkeeper

Wholesaler

Consultant

Other (please specify)

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* 7. 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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* 8. Suggestions for future survey questions? Seriously - what would you like to know about/from your fellow NAPA-Net readers? Or what would you like to be asked?

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* 9. All responses are confidential, of course - but just in case you would like a response - or want me to know you responded - or just want to say hi - here's your chance to do so (don't forget your email)!