7 Smart Shopping Steps to Avoid Buyer’s Remorse
Shopping for a new provider is not something one would normally equate with a Black Friday foray or a Cyber Week scramble. But if you have a plan sponsor — or plan sponsor prospect — who’s thinking about shopping for a new provider, here are some ideas to share. Make a list — and yes, check it twice. In an area fraught with as much potential complexity as searching for a retirement plan provider, it’s easy to think you can learn what you need to look for by simply going through the process. And while it’s certainly a learning process, doing so without a sense of core needs is a bit like going grocery shopping on an empty stomach; everything will sound good, and you’ll likely overload on the “sugar” (and perhaps overpay as well). Even Santa Claus makes a list — so should you: of plan design features (real and anticipated) that you want supported. Don’t neglect the problems. Odds are if a plan sponsor is serious about a change in providers, there’s a reason – ...