Finding the Right Provider

The retirement plan provider review process can be time-consuming, confusing, and frustrating. All too often, standard vendor-provided proposals do not include enough information to determine administrative, recordkeeping, compliance, and employee communication services and standards. Furthermore, total plan costs are usually impossible to determine from the face of the proposals.

Romero & Levin is the Plan Sponsor’s outsource partner in the plan provider review process. Romero & Levin employs the SearchPro Plan Provider Review Process, which enables Plan Sponsors to eliminate the confusion and frustration of selecting a 401(k) provider, and dramatically reduces the amount of time plan sponsors must allocate to the evaluation of new plan providers.

The Importance of a Healthy Retirement Plan

Given the nature of the regulatory environment and the emphasis plan sponsors are now placing on the capabilities of advisors and the services they are providing, it is essential that an accurate measurement of a plan’s value exists. While recordkeepers have provided their own branded versions of this type of information to plan sponsors in the past, Romero & Levin understands that now more than ever, advisors want to control this analysis and deliverable. To meet this demand, Romero & Levin utilizes the Retirement Plan Health Check, developed by LPL Financial in parternship with Fiduciary Benchmarks. This comprehensive and sophisticated program will allow you to access and provide qualitative plan statistics in a simple straightforward format.

Our Plan Health Check Solution

No matter the size of your practice or book, the new Retirement Plan Health Check tool will provide a competitive offering to you in the form of a true and unbiased plan health breakdown. The Retirement Plan Health Check tool allows you to report on the “health” of a plan by presenting key plan attributes compared to a valid peer group, such as:

  • Historic and age group-based plan participation, deferral rates and average account balances
  • Highly and non-highly compensated employee statistics
  • Age group segmentation and total participant contribution levels
  • Current and historic portfolio diversification data shown in total and divided by age groups
  • Aggregate plan performance
  • Plan fees
  • Ability to save historical results regardless of plan provider

How the Plan Health Check Works

After entering the appropriate plan data, you will decide what information to include in the report. The output is completely modular and you will have the ability to choose from a large number of unique report combinations based on your preferences. The output is plan sponsor-focused in an easy to understand format that includes colorful tables, charts and graphs. All data entered is automatically stored for use in future reports, to eliminate the effort of duplicate entry and show the changes in these key plan attributes.

No information provided on this site is intended to constitute an offer to sell or a solicitation of an offer to buy shares of any security, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under securities laws of such jurisdiction. Registered Representatives of LPL Financial disclosed on this site may only discuss securities or transact business with persons who are residents of the following states: AZ, CA, CO, HI, IL, IN, MN, MS, NC, NY, OH, SC, TX, & WA

Daniel Romero, Melissa Levin and Greg Levin are Registered Representatives with and offer Securities, financial planning & fee based asset management through LPL Financial LLC a Registered Investment Advisor and Member FINRA/SIPC. Daniel’s CA Insurance Lic #:OC54180 - Melissa’s CA Insurance Lic #:0C56086 - Greg’s CA Insurance Lic #:0F08519

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ Practitioner, which it awards to individuals who successfully complete initial and ongoing certification requirements.