Nicklas Financial | Every Move Matters

Benchmarking

"Life is like a game of chess. To win you have to make a move. Knowing which move to make comes with insight and knowledge and by learning the lessons that are accumulated along the way."

-Allan Rufus

Are you evaluating the effectiveness of your 401K plan? The benchmarking process can be time consuming, cumbersome and overwhelming, particularly if you are going through the process for the first time. You don’t have to go it alone. Nicklas Financial can help whether this is your first time benchmarking your plan, or you do it regularly and want expert support.

It’s Better Together

To help eliminate frustration and save you time, we shoulder much of the responsibility of the benchmarking process, freeing you to make a final well-informed decision. After you initiate a Request for Proposal (RFP) we collect quote information, compile it and present all our findings in a comprehensive report to you and your committee. This helps you make the best possible decision for your employees and also helps meet your fiduciary responsibilities (i.e. monitor plan fees, provide a competitive plan, etc.).

What do we do?

At Nicklas, our RFP benchmarking process and report includes quantitative and qualitative data to describe fee services and investments holistically.

In the benchmarking process, you can expect us to always include:

How do we do it?

Like you, we want the best resources to help us do our best work. Sometimes that means using a team. This led us to become members of the Retirement Plan Advisory Group (RPAG), a national alliance of advisors. The RPAG has in-house full-time research analysts who develop and maintain propriatary research for the group and its members. Click here to learn more about RPAG. Since we are members, we use Provider Search/Benchmarking resources for investment management, recordkeeping services and fee comparisons. We use this as source data to benchmark plan fees, services and investments. It forms the basis of the reports we present to you.We gather the information then generate the best plan options for you based on your goals and objectives.

Intersted in getting expert support? Let us help you move forward. Click here to start your 401k Initial Needs Analysis.