Third-Party Administrator (TPA) Definiti LLC announced a program for financial advisers who have 401(k) books of business, that will offer access to proprietary retirement plan resources, reports, and a dedicated account manager to help them manage plan sponsor clients.
The adviser will be assigned a strategic account manager, who will help them with book-of-business status reports, priority access to their ERISA attorney, referrals to “orphaned” retirement plans, and advance notice of product and service launches, events, or legislative and regulatory updates.
This sounds like a smart move to me. Working for TPAs in the past, the hope with working with an advisor is they would bring all their clients to us, but this is an actual program with bells and whistles.