By only integrating with the highest quality partners and utilizing cutting edge technology, we provide unparalleled accuracy in our data. The seamless web portal and mobile experience allows retirement plan advisors and their clients to make better business decisions and reveal areas of fiduciary concern.
Fiduciaries are required to receive fee disclosures from service providers and then determine if said fees are reasonable. The DOL does not explicitly define “reasonable,” but best-practices dictate that plans should benchmark their fees annually and gather live bids from alternative providers every three to five years. When fee benchmarking with fee averages you need to be comprehensive, measurable and the process needs to be documented with the care and skill.
PlanFees Unique Differentiators
When it comes to delivering an annual fee benchmarking report or a quick conversation starter, most simple benchmarking reports are either inaccurate or take too long to produce. Advisors are often left scrambling to provide clients with a meaningful and accurate fee benchmarking. PlanFees fills that gap by giving advisors an accurate, instant, and customized process that combines the functionality of an easy benchmarking tool with the data from the industry’s leading live-bid proposal system.
The Problem
When it comes to delivering an annual fee benchmarking report or a quick conversation starter, most simple benchmarking reports are either inaccurate or take too long to produce. Advisors are often left scrambling to provide clients with a meaningful and accurate fee benchmarking.
The Solution
PlanFees fills that gap by giving advisors an accurate, instant and customized process that combines the functionality of an easy benchmarking tool with the data from the industry’s leading live-bid proposal system. Using only verified data from live-bid pricing proposals from the industry’s leading service providers, our Prism™ benchmark universe provides an accurate and realistic fee benchmark and our Prism365™ advisor fee and service benchmarking. We take our massive databases and give you a streamlined experience so you can create reports with just a few clicks and spend more time with your customers.
The Reports
Prism: Total Plan Fee Benchmarking
Fast and accurate report that benchmarks a retirement plan’s total costs in seconds. Compare investment, recordkeeping, administrative and advisors fees to the marketing with just a few clicks.
Prism365: Advisor Fee and Service Benchmarking
Benchmark your advisory fees and services to the most accurate, detailed, and comprehensive database in the market. Whether it’s through our easy-to-use web portal, mobile app, or SSO integrations with top advisory platforms, you can deliver actionable insights with a just a few click of the mouse or taps on the screen of your mobile device.