Thursday, February 4, 2010

What Drives ERISA Plan Service Provider Changes Now

The article recently published in PlanSponsor Magazine, entitled, "After the Storm: A year after the market meltdown, a new provider landscape emerges" elaborates on those factors now contributing to plan service provider changes within the ERISA clientbase. Some of the factors are highlighted below:

-“Flight to Quality” -- dependable partner
-Institutional credibility
-Committed to the business and demonstrating organizational strength and stability
-Most employers focusing intensely on their core business = less RFPs
-Fee benchmarking currently motivates many sponsors to begin a review
-Reluctance to jump ship just because of bad investment performance
-Personalize service delivery to participants
-Ease of doing business for sponsors and participants
-Fiduciary support and risk management
-Ensuring adequate investment monitoring

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