Up until the early 2000s, the retirement plan service provider space was dominated by brokers and insurance companies. The results were enormous fees paid to the service provider community, which factored directly into compromised investment returns for plan participants. Now, participants are paying a fraction of these fees and enjoying a vastly improved array of services. What accounted for this startling improvement? Good governance, fee transparency, and the emergence (and now universality) of the co-fiduciary advisor.
The skyrocketing costs of healthcare for employers are never going to stop growing until employers begin to insist that their intermediary (between the employer and the insurance companies) has an absolute, legally enforceable, fiduciary duty to the employer, complete fee transparency, and no side arrangements with insurance carriers. Employers will see in their health and welfare plans the same revolutionary improvements as they saw in their retirement plans, but only when this model is used. We feel this model is inevitable, and we are built on hastening and implementing this obvious solution to the problem.
We are not an intermediary between the employer and the carrier. We are a service provider search firm and a consultant to any provider that wishes to evolve their service model into one of loyalty and complete transparency.