PRI works with clients to engineer compliant and competitive retirement plans and related products and services. The broad experience of the PRI team allows us to collaborate with our clients and third-party experts to identify opportunities, manage risk and align goals with available resources.
Broker-Dealers and Registered Investment Advisers
Integrating securities and ERISA compliance, PRI is able to deliver “best practice” approaches for achieving the specific goals of each client with an emphasis on effective implementation and efficient oversight. PRI works with all affected business units, including due diligence, operations, compliance, supervision, sales and distribution in order to provide clients with workable and sustainable strategies for servicing ERISA and IRA clients.
For broker-dealers, investment advisers and investment managers, PRI offers both custom and subscription-based services that include “turnkey” documents (e.g., contracts, disclosures, procedures, etc.), program-specific training, ongoing legal and regulatory updates and sales support.
Custom projects include:
- Global review and fiduciary risk analysis of retirement-related programs, agreements, disclosures, products and services for broker-dealers and investment advisers;
- Development and deployment of disclosures required under ERISA 408(b)(2), including account identification, data transfer protocols, service descriptions, etc.
- Product development, due diligence and marketing materials for retirement plan providers and third-party programs;
- Development and marketing of participant investment advice and/or management programs;
- Firm-specific compliance and sales training for retirement plan advisers and supervisory personnel; and
- Development, testing and implementation of policies and procedures (i.e., due diligence, operational, compliance and supervisory) for ERISA and IRA products and services.
Retirement Plan Advisers
PRI’s Adviser Resource Series (ARS) is designed to assist retirement plan advisers in developing a framework to facilitate their clients with the operation and management of their retirement plans. From actionable fiduciary education to proprietary policies and procedures, the ARS helps maximize the value of the adviser to plan fiduciaries and participants. Additionally, the ARS materials promote opportunities to scale the adviser’s services across all clients through consistent and predictable processes. Advisers who utilize the ARS approach will be well-positioned to retain existing clients and more effectively prospect new plans as the regulatory landscape continues to evolve.
The ARS is available to advisers licensed with ERISA Compliance Subscription Clients through PRI’s proprietary, web-based Adviser Resource Center (ARC). If you are an adviser with a firm that is not a PRI subscriber, please contact PRI for information on obtaining individual access.
Plan Sponsor ERISA Concierge Program
ERISA requires employers to prudently manage and administer the plan, and it requires plan fiduciaries to engage outside expertise when required. Indeed, it is very common for plans to hire financial advisers to assist with the development and maintenance of investment policies and the monitoring of the plan’s investments. It is equally imperative, however, that plan sponsors have processes in place to allocate roles and responsibilities among plan fiduciaries and service providers and to address fiduciary duties beyond those which are investment-related (e.g., selection and monitoring of service providers, administration and reporting, etc).
Working in concert with experienced financial advisers and retirement plan consultants, PRI’s ERISA Concierge Program provides employers with fiduciary training and resources to assist with the implementation of a procedural framework designed to optimize operational efficiencies, streamline decision-making and promote compliance. Depending upon the needs of the employer, PRI may provide ongoing fiduciary education, periodic legislative and regulatory updates, onsite reviews and mock audits, etc. A sample proposal can be accessed below. Please contact PRI to discuss the specific needs of your plan.