When working with financial advisors and Plan Sponsors, we often get asked to share some of our demographic in regards to the clients that we support and the work that we do. With this in mind, we thought it might be fun to share a blog post that showcases the current trends for ADMIN Partners. From our current retention rate to the number of investment providers we currently work with, this post will cover it all. Let’s dig in.
The ADMIN Partners business model was created based on the value of long lasting relationships between ADMIN (the TPA), the client, and their financial advisor(s). This intention has allowed ADMIN to create a book of business that is primarily referred to us by financial advisors working in the tax exempt & government industries. Rather than putting our primary focus on incoming business, we prioritize our existing clients and work each day to strengthen the relationship with them. We are not a TPA that hands you a plan document and wishes you the best of luck. We are a TPA that will hold your hand through the entire life of your retirement plan. As your organization grows, we will expand with you and ensure that your plan continues to meet your needs.
These three numbers answer some of the more common questions that ADMIN Partners receives. While we consider ourselves a small business, we are proud to say that we currently support over 800 clients across the nation. We understand the appeal of a local presence when it comes to a TPA; however, with our advances in technology, we have been able to provide a consistent level of support to all of our clients (both large and small) in each of the 50 states across the country. We have also built relationships with over 65 investment providers which allows us to be completely vendor neutral for our clients. This allows employers to create options for their retirement plan without any interruption in administration service from us.
The final statistic that we are sharing is catered to the financial advisors who currently work in the tax-exempt marketplace. When we first meet advisors, we often learn that the impression they have is we are out to take their business. This is because there are a large number of producing TPA’s who push to include their investments with their administration services. Unlike these TPAs, ADMIN Partners takes the independent route and works alongside advisors to provide a full-service package of retirement planning for each client. We know that advisors are experts when it comes to investment planning, and we leave that task up to them. Our job is to provide our expert level of administration which keeps retirement plans compliant at all times. In working with advisors, rather than against them, ADMIN Partners sees an award rate of 35%! This number proves that working with advisors in a team setting is a win for everyone involved.
Want to learn more about ADMIN Partners? Contact our Sales Manager, Greg Verna, at 877-484-4400.