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Sample Advisor RFP Questions
The Department of Labor is very critical of how plan sponsors select and monitor service providers and how those decisions are documented. An RFP (request for proposal) is one of the most prudent methods for plan sponsors to monitor fees, compare services, and document the section process.
Fiduciary best practices says to conduct an retirement advisor RFP at least every four to five years or any time you are uncertain/unhappy about the competitiveness of your services.
Here are some sample advisor RFP questions to help you get started:
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