Drastic improvements in the funded status of many defined benefit (DB) plans make this a critical time for plan sponsors to evaluate their plan strategy and objectives. For many, that may trigger a search for a new service provider. Financial professionals who can lead that search process have a significant opportunity to showcase their value.
A new guide from the Principal Financial Group ®, one of the leaders in pension risk management, offers best practices and resources to help financial professionals conduct DB provider searches—no matter what their comfort-level or experience with DB plans.
“Searching for a new DB provider is very different from a defined contribution (DC) provider search,” said Janet Kubik, assistant vice president of retirement and investor services at The Principal ®, the number one provider of defined benefit plans 1. “We developed this guide, based on more than 70 years in the DB market, expressly to help support financial professionals in leading plan provider searches. This allows them to further demonstrate their value and help DB clients accomplish their goals.”
The step-by-step guide identifies tips and considerations that are unique to DB plan provider searches and includes sample, non-branded resources that can be customized such as:
- A fact finder to ensure accurate information about the DB plan.
- Plan assessment to understand the plans strengths, weaknesses and priorities.
- Fee assessment to help evaluate total soft and hard dollar costs.
- Search evaluation criteria and sample request for proposal questions.
- Finalist scorecard to more easily identify which provider is the best fit.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV