How Can a Third Party Admin Help with 401k Retirement Plan Management?

Posted by Timothy Harvard on November, 2018

Within any financial advisory firm, there is the need to hire a third party administrator to help it to grow and thrive. It goes without saying that today’s businesses need this type of extra help to allow the advisor enough time to handle the tasks no one else can do. And, providing these services can enhance the quality of care your customers receive from you. This includes aiding in the management of your 401k retirement plan.

What Can This Provider Do for You?

If you offer a 401k retirement plan to your clients, what type of work do you need to do? Do you spend a lot of your time answering questions and enrolling your clients? Perhaps you spend a lot of your time managing the day-to-day needs of your employers, trying to help them to manage the process, costs, and timelines. There are compliance requirements to be met. You also have to be there to ensure you are offering your clients value, which often means providing ongoing support to them. And, of course, there are the management tasks for the plans themselves.

What If You Had Help?

If you hire the right team, you can provide a high level of customer service your clients need without impacting your day and schedule. You also get to deliver a higher value to your clients. This helps them to encourage other people to sign up to obtain your services as well.

When you need a 401k retirement plan management team to help you, hire a third party administrator. The help you get will pay for itself in a matter of months. More so, you can build the quality of service you provide to your clients many times over making it well worth the investment.

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