CoFi fills the void in the benefits marketplace of truly independent, highly expert, information, products, and services for fiduciary decision-makers. Our primary focus is assisting our clients with service provider selection and management. We employ specialists in all relevant disciplines (law, financial analysis, accounting, etc.) and have accumulated incomparably robust market data so that we can provide complete fiduciary duty support and assurance for service provider selection with regard to executive, retirement, medical, and all other benefit plans. We also support other benefits professionals (lawyers, accountants, etc.) who need strong, independent support for their clients in areas that are complementary to (but outside) of the professional’s discipline.
Our key differentiator is independence. We sell nothing but expertise, information, and confidence. We sell no investment products. We have no alliances with vendors, brokers, or carriers. Our only duty is to the employer and its plans.
This all translates to economic savings and risk reduction to the employer, reduced employer overhead commitment and better outcomes for employees.
Retirement, medical and other health and welfare benefit programs are quagmires of service providers and cash flow. The money starts with employer/employee contributions and ends with benefits delivered to the employee, but what service providers eat up with carrier charges, producer commissions, and other fees in between (and what services are performed for these fees) is usually unknown to the employer. Hidden compensation arrangements are standard practice. Our mission is to shine a light on the process through governance and information services to ensure that all service providers are highly competent, suitable for the employer, correctly and transparently paid, and accountable for excellent performance.
We are not an intermediary between the employer and the carrier. We are a service provider search firm and a consultant to any employer or benefits professional that wishes to evolve its benefit plan service model into one of
- high competency
- complete transparency
- conflict-free structural integrity
- appropriate compensation levels