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 allow 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.” However, 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 both comprehensive and measurable, and the process needs to be documented with care and skill.
PlanFees Unique Differentiators
When it comes to delivering an annual fee benchmarking report, most are either inaccurate or take too long to produce. Thus, advisors are often left scrambling to provide clients with a meaningful and accurate fee benchmark. PlanFees fills this gap by providing advisors with an accurate, instant, and customized process that combines the functionality of a simple benchmarking tool with 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 benchmark.
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 data from the industry’s leading live-bid proposal system. Using only verified data from live-bid pricing proposals, our Prism™ benchmark universe provides an accurate fee benchmark, while our Prism365™ provides a realistic advisor fee and service benchmark. We give you a streamlined experience and save you time using our massive databases, allowing you to create reports with just a few clicks and spend more time interacting with customers.
The Reports
Prism: Total Plan Fee Benchmarking
Prism provides a fast and accurate report that benchmarks a retirement plan’s total costs in seconds. It compares investment, recordkeeping, administrative, and advisor fees to the market with just a few clicks.
Prism365: Advisor Fee and Service Benchmarking
Prism365 benchmarks 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, you can deliver actionable insights with just a few clicks of the mouse or taps on your mobile device.