When it comes to retirement planning, Financial Advisors and TPA firms have spent years working against each other. This was the result of Third Part Companies venturing into the world of investments leaving Advisors to feel like they had a new army of competition. While it’s true that some TPA’s have joined the ranks of selling investments to employer-sponsored retirement plans, other TPA’s, such as ADMIN Partners, have decided to take a different approach.
ADMIN Partners was built on the relationships we have with both our Plan Sponsors and the Financial Advisors that support their Plans. This is why we continue to take a team approach to working with Financial Advisors. We believe that by working alongside Advisors as they assist plans, we can become the ultimate retirement planning duo!
It is certainly enticing to have a TPA be the company providing investment options for a retirement Plan. However, after years of experience working in the tax-exempt & government markets, ADMIN has seen how these blurred lines can impact Plans. Instead ADMIN lets the investment education come from the experts: Financial Advisors. This allows ADMIN’s team to use their expertise to handle the Plan’s administration and overall compliance. This method provides the “best of both worlds” to the Plan Sponsor and their participants.
Working with tax-exempt and government plans, ADMIN has seen how multi-vendor setups can intimidate both Advisors and Plan Sponsors. Majority of the concern lies within the required data aggregation and maintenance that comes with legacy assets. ADMIN Partners eases this burden off the Advisors and Sponsors by using our technology to manage the participant activity across all platforms. Our efforts keep the Plan compliant regardless of what vendors are approved/deselected within the Plan. This allows the Sponsors to provide their Plan participants with choice and gives Advisors the peace of mind when working with multi-vendor arrangements.
Retirement plans are so much more than a savings account for the future. With the increase in IRS regulations over the years, Plans have become a complex operation that requires a dedicated team to manage the overall Plan administration. From document design, to participant-level requests, to support during an IRS audit, ADMIN Partners works side-by-side with Financial Advisors to ensure each Plan receives the hand-holding they need to be successful. TPA’s are designed to support Plan Sponsors, but ADMIN believes this support lends to the Advisors working alongside each Sponsor. By ADMIN absorbing the daily administrative responsibilities, Advisors and Plan Sponsors can rest assure that their retirement plans are in good hands.
To learn more about ADMIN Partners and how we partner with Financial Advisors, contact us directly at 877-484-4400 or [email protected]