Provider Fee & Qualitative Analysis
To help employers make informed decisions about their retirement plan providers and monitor their performance, SevenHills Benefit Partners uses multiple benchmarking solutions to provide comprehensive reporting. Our proprietary Provider Fee and Qualitative Analysis not only compares financial bids from different providers, but also includes a qualitative score and ranking for each one.
The Department of Labor requires plan fiduciaries to understand and document the fees and services for their retirement plan, and to ensure that the plan is fairly priced for the services received. Our process combines quantitative and qualitative factors to make it easier for plan sponsors to fulfill this fiduciary obligation.
We recognize that no one solution is suitable for all plans, so we take an independent approach to help plan sponsors find the right provider partner and monitor the pricing and services on an ongoing basis.
