Press Release

Council Makes Simplified Advisor Search RFP Template Available Free of Charge and Free of Copyrights

Issued by Retirement Advisor Council

Dec. 15, 2022

East Windsor, CT – December15, 2022 - The Retirement Advisor Council just released a simplified version of its Advisor Search RFP Template.

Advisor Search RFP Templates can be downloaded HERE free of charge and free of copyrights.

The simplified RFP Template is ideal for plan sponsors who do not wish to conduct a full-scale RFP but still want to demonstrate their exercise of due diligence in the selection of their plan advisor.

“Building on the Council's previous Advisor RFP tool, this version should be well suited for smaller plan sponsors or those with more basic plans. It was designed with the busy HR professional in mind who wears multiple hats to help them with a streamlined RFP that is robust enough in content yet still manageable in length for processing the answers.” Says Advisor Tools and Resources committee co-chair and Council President-elect Courtenay V. Shipley CRPS, AIF, CPFA, CEPA of Retirement Planology, Inc.

The simplified RFP is applicable to 401(k) and 403(b) plans and consists of 34 questions instead of the 58 questions included in the long form Advisor Search RFP template. The questionnaire covers the exact same categories as other RFP templates from the Council (Firm Information, Service Team, Investment Services, Participant Services, Provider/Vendor Services, Fiduciary Status and Compliance, Fees, and Security / Business Continuity. The questionnaire has also been modernized to cover topics such as cybersecurity and E&O coverage that have become increasingly critical post-pandemic. The simplified RFP template also includes a glossary of terms and definitions that a novice plan sponsors would find helpful.

About The Retirement Advisor Council

Formed in 2009, the Retirement Advisor Council is a national organization that advocates for successful qualified plan and participant retirement outcomes through the collaborative efforts of experienced, qualified retirement plan advisors, investment managers, and defined contribution plan service providers.  To advance its mission, the Council undertakes initiatives in the areas of research, public relations and promotion, general public education, regulatory positions, and practice management.  The Council accomplishes this mission by:

• Identifying duties, responsibilities, and attributes of the Professional Retirement Plan Advisor.
• Sharing professional standards with plan sponsors who are responsible for the success of their plans.
• Providing collective thought capital to decision makers, product providers, legislators, and the public.
• Giving voice to the retirement plan advisor community
• Offering tools to evaluate advisors to ensure the quality of services provided.

Learn more about the Retirement Advisor Council at www.retirementadavisor.us

The Retirement Advisor Council is a d.b.a. of EACH Enterprise, LLC.

EACH Enterprise, LLC is a single-member LLC owned by Eric A. C. Henon.   Learn more at www.retirementadvisor.us

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