BIG, Inc. is an independent fee-based administrative consulting firm supporting the financial advisor community. We do not provide investment services or accept commissions.
Consulting, Fiduciary & RFP Services
-
ERISA holds retirement plan fiduciaries to the highest legal
standards. To help meet these legal requirements, we can
provide plan sponsors with the independent, objective
consulting and guidance necessary to effectively meet and
manage ERISA standards. Proper selection and ongoing
monitoring of investment alternatives within the plan is a
critical aspect of the fiduciary process. Our independent and
objective analysis provides plan sponsors with the specific
detailed information necessary to make informed decisions on
behalf of the plan and help fulfill its fiduciary obligation.
Consulting and Fiduciary services:
Conduct a plan feasibility study based on specific goals set
by the client
Review and Preparation of the plan documents and summary plan
description
Fiduciary Risk Management
Fiduciary Audit File Risk Management through prudent processes, procedures &
documentation
Annual review of plan design and modifications as necessary
Investment Policy Statement, documentation and adherence. Properly establish a
Plan Management Committee including bylaws
Develop and implement formal education plan
Semi-annual fiduciary review and analysis
Evaluate the quality of
your current investment platform
Calculate plan level
expenses and vendor revenue
Calculate investment
performance and associated risk
Ongoing investment in technology
Fiduciary tools and support
State-of-the-art reporting
RFP Services:
Help the client define
the RFP process (initial needs analysis and questionnaire)
Educate the Client
about all available options Drafting the RFP
document for client review and then changes as needed Conducting the Initial
Provider Evaluations Solicits information
from 401(k) providers on behalf of the client Assembles and analyzes
the data and presents/explains the results to the Client
(Executive Summary) Prepare a Total Cost
Analysis Compares costs and
checks references where appropriate Compares proposed
services provided by each vendor Recommend three
providers who are the best fit for the client Onsite interview of the
three finalists with the client Final recommendation of
the best fit provider Reviews contracts and
other documents in conjunction with client