FRA PlanTools

Benchmarking Reports

Benchmarking is a cost effective approach to determine fee reasonableness for services rendered as well as providing the necessary documentation to support a prudent process. PlanTools™ benchmarking solution provides 16 different reports that address expense analysis, benchmarking fee categories and service lines. In addition, PlanTools™ provides a unique interface to analyze revenue sharing by platform and the flexibility to incorporate the necessary descriptive text to meet 408(b)(2) disclosure requirements.

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Investment Policy Statement (IPS)

PlanTools hosts an IPS template that is fully customizable. Clients may create an unlimited number of IPS scenarios to address all investment strategies. The IPS is also integrated with the Quarterly Monitoring Report to provide an easy method of documenting investment selection and monitoring on a quarterly basis.

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Client Resource Center (CRC)

Fiduciary Governance is a catch phrase most talk about but few implement. The CRC is a micro-site that is accessed through your website login via a URL link. The CRC provides clients with a centralized document lockbox (vault) to hold all plan level documents in a centralized secure location. In addition to the vault, a series of dashboard that provide pertinent plan level information is available to C-Suite decision makers, their legal counsel or auditors. In addition, a library of resources is available for research purposes.

Plan Dashboard View

TIAA-CREF Advisor Network

The Network is populated with advisors pre-vetted according to court room standards for determining domain specific expertise. Only TIAA-CREF clients are able to permit their participants access to a network of advisors that have been subject to financial, criminal and sex offender background checks. Advisors, their RIA and staff are that interface with clients are subject to review. In addition, all participants are reviewed under the ERISA fiduciary standards, the highest known to law.

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Allianz Global Investors Target-Date Tool Set

Under the thought leadership of Glenn Dial, Managing Director and Head of US Retirement Distribution for Allianz Global Investors, a new objective target date analytics tool was designed. After completing the design specs, Allianz Global Investors contracted with PlanTools™ to custom build and maintain this unique web-based tool for advisor use. The Allianz Global Investors Target-Date Tool Set (TDTS) includes two reports…a Questionnaire to address “To” versus “Through” and a Competitive Analysis that compares Target-Date fund features.

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ERISA Advisor Evaluator (EAE)

EAE is a unique web-based Request for Proposal system that is designed to help a plan sponsor, ERISA attorney, CPA or consultant compare, contrast, score and select a qualified advisor. If you have not documented the selection of your advisor you are vulnerable. Selecting an advisor is a critical component of a successful retirement plan. Retaining advisors based on relationship alone or entertainment value is not prudent or in the best interests of participants. To document the process and establish a basis for meeting 408(b)(2) disclosure obligations and fee reasonableness contact PlanTools.

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Recommendations

PlanTools™ Risk Management System is an integrated suite of web-based plan metrics. Licensed users have access to over 35 different reports to address a multitude of different risk management and compliance issues. Specific plan data is entered ONCE creating time and cost efficiencies to produce reports that address key issues such as:

Investment selection and monitoring
Expense analysis
Fee benchmarking
408(b)(2) compliance
404(a)(5) compliance
Revenue sharing analysis
Preparation of Investment Policy Statements
Preparation of Board Meeting Minutes
Establishment of an automated fiduciary governance system
Maintenance of all documents in a document lockbox
Target-Date analytics
Request for Proposal process for Advisor Searches

In addition, for covered service providers with scale, PlanTools™ can develop customized reporting solutions at a fraction of the cost for in-house development.

If you are looking for a comprehensive compliance and risk management solution, PlanTools™ is your single source solution.

Recent Articles

Fiduciary Risk Assessment Employs Former 401(k) Fee Litigation Attorney

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With 408(b)(2) Disclosures in Hand, What’s Next? This article authored by David Witz for Whitfield Elliott, a boutique CPA Auditing firm's On Track Newsletter.

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Are FPA Members Experts is a key note presentation David Witz delivered to the FPA of Iowa 2012 Annual Symposium. The presentation compared the FPA member standards to those the court uses to determine expertise as well as ERISA standards.

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Testimonials

Excellent system built specifically to comply with the disclosure regulations and a great tool to analyze funds and track fund utilization across all plans.
Jeff A. Trust
Most companies over promise and under deliver, PlanTools has a great way of under promising and over delivering!
Tim C. TPA
Their output and content are tailored to today’s regulatory demands. I find my firm and myself in a heightened air when presenting their customizable quarterly monitoring report, agenda/minutes, expense performance analysis and IPS. If you wish to win bids and act at the highest level of a “prudent” fiduciary advisor, FRA/Plantools offers what you will need to elevate to your “A” game.
Mike D. Advisor