Sponsors

Rising complexity in plan design, multiple layers of fees and proliferation of investment options—not to mention increasing compliance costs and regulatory oversight—can create confusion for plan sponsors. GRP Advisor Alliance’s member firms focus is to position plan sponsors to deliver high caliber products and services to their participants.

In addition, GRP Advisor Alliance’s member firms offer a comprehensive suite of services for employers. These services are delivered by knowledgeable advisors nationwide to aid employers in making the best choices for their employees. To learn more, choose from one of the options below.

Click the links below to explore GRP Advisor Alliance.

Provider Analysis

With growing scrutiny on plan sponsors over potential or perceived ERISA violations, GRP Advisor Alliance's member firms provide plan sponsors with a variety of benchmarking options to help streamline the process of selecting and monitoring plan providers.

Taking into account the plan sponsors’ staff demographics and retirement plan goals and objectives, GRP Advisor Alliance's member firms evaluate an employer’s current investment portfolio and plan provider and offers recommendations for improvements in cost, compliance, technology offerings, service and support.

GRP Advisor Alliance's member firms then assists in the analysis and selection process of a provider that best fits the identified needs of the organization and its employees.

Finally, GRP Advisor Alliance's member firms take a proactive approach to maintaining and enhancing provider services through an ongoing benchmarking process that measures participation levels and overall performance.

Financial Wellness

GRP Advisor Alliance in partnership with Financial Finesse, the leading provider of unbiased financial wellness programs in the US, provides an innovative, cost-effective way for advisors to differentiate themselves as they meet the needs of plan sponsors today. With turn-key and holistic financial wellness programs at your disposal, you can drive deeper conversations with plan sponsors by delivering a true financial wellness benefit that ultimately achieves better participant outcomes without draining your valuable time and resources. Download the full brochure online.

HOW FINANCIAL WELLNESS WORKS

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FOR SPONSORS

GRP Advisor Alliance chose Financial Finesse because it is the leader in the financial wellness industry, with a behavioral change model that addresses all participants' financial issues in order to increase their financial health and provide them with the tools and resources they need to become financially secure.  Financial Finesse has historically worked with large companies to roll out robust financial wellness programs for their entire workforces.  Now the same employee working for a mid-sized tool & die shop for example, can get the same benefit that a Fortune 500 employee has through their employer.

Online Financial Learning Center
Through Financial Finesse’s award-winning, patent pending platform, employees receive a personalized Financial Wellness Assessment that identifies their most significant financial vulnerabilities and provides a personalized plan with steps they can implement immediately.

Online Employee Financial Wellness Assessment
Employees will have access to a personalized Financial Wellness Assessment to gauge their overall financial wellness and identify their key financial vulnerabilities. They will also be able to design and implement a customized, step-by-step action plan aimed at improving their personal financial situation.

Workforce Financial Assessment
A comprehensive report that empowers organizations with valuable data around their employees’ financial vulnerabilities and strengths, so they can design a highly effective program that addresses their most pressing financial issues.

Financial Helpline
As an option, plan sponsors can engage Financial Finesse’s 15 CERTIFIED FINANCIAL PLANNER™ professionals to provide employees with ongoing financial coaching and guidance, allowing them to work with their own financial advisor at their own convenience, whenever they need expert guidance and support.

Workshop Content
Advisors have access to a library of content and materials to deliver on-site events should a plan sponsor request this approach.

WORKSITE FINANCIAL SOLUTIONS

Worksite Financial Solutions is a comprehensive, beginning-to-end solution that helps employees pursue their lifelong financial goals. Unlike many programs, Worksite Financial Solutions is based on delivering tailored workplace education, supported by qualified Global Retirement Partners’ member firms who are fully committed to providing holistic advice to each employee. Along with the customized guidance, employees can access a comprehensive suite of online tools delivering knowledge they can implement right away.

Learn More

PLAN DESIGN CONSULTATION

No two plans are alike. Global Retirement Partners’ member firms take the time to understand a plan sponsor’s requirements before designing an unbiased retirement plan program that provides both great value to employees as well as alignment with the plan sponsor’s corporate goals and objectives.

Plan Design Functions Offered:
  • Strategies to optimize employer contributions
  • Assistance with 404(c) investment guidelines and other legislative and regulatory changes
  • Electronic management and transmittal of payroll, loan and other transactions
  • Automation - paperless enrollment and online employee access
  • Analysis of auto enrollment, safe harbor, and auto increase provisions
  • Evaluation of qualification and eligibility processes and issues
  • Support services and educational resources to streamline administration

3(21) OR 3(38) CO-FIDUCIARY

A retirement plan advisor can serve in either a 3(21) or 3(38) fiduciary capacity, and in some cases, both capacities. The needs and desires of the plan sponsor typically dictate the specific arrangements, which are typically based on risk mitigation versus risk avoidance. Some plan sponsors want assistance with their fiduciary responsibilities but want to maintain discretion and control of their plan’s investment menus. Others want to shift the fiduciary responsibilities to a third party due to their lack of expertise, and ultimately, fear of exposure to liability. Global Retirement Partners’ member firms can help a plan sponsor make the appropriate choices for their plan.

INVESTMENT DUE DILIGENCE

GRP Advisor Alliance's member firms work with retirement plan sponsors to assist in the development and maintenance of investment due diligence strategies, procedures and supporting documentation including the sponsor investment policy statement (IPS).

How it works:
  1. A governing committee is created whose goal is to ensure fiduciary practices are followed. During this time the IPS is drafted and reviewed and costs are determined and regularly benchmarked.
  2. Investment portfolios are created and routinely analyzed so that the plan sponsor can expect ongoing performance check-ups.
  3. GRP Advisor Alliance's member firms help monitor a plan to stay on track; each investment is continually evaluated by a variety of metrics to meet the objectives of the sponsor’s IPS and to minimize exposure to fiduciary liability. GRP Advisor Alliance's goal is to help plan sponsors feel confident that their plan is not only diversified but also consistently and regularly monitored to meet the objectives of the IPS.

FIDUCIARY SUPPORT & EDUCATION

With more scrutiny placed on plan sponsors today to meet fiduciary obligations, Global Retirement Partners’ member firms provide educational resources and solutions aimed at helping mitigate employer liability, including the implementation of plan policies and procedures.

Fiduciary Functions Offered:

  • Training and education on plan investment and retirement
  • Comprehensive fiduciary oversight reviews
  • Assist with the development of policies and procedures
  • Aimed at creating a culture of compliance through proper documentation
  • Regular review of service providers