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A service for global professionals · Friday, October 19, 2018 · 465,595,933 Articles · 3+ Million Readers Launches Innovative Digital Platform for Retirement Plan Due Diligence Aimed at Financial Advisors and Third-Party Administrators

Company Creates Holistic Platform for Prospecting, Benchmarking, Proposal Management, 401(k) Provider and Investment Selection

/EIN News/ -- DANA POINT, Calif., Sept. 10, 2018 (GLOBE NEWSWIRE) -- LLC, headquartered in Naples, FL,  today unveiled its proprietary digital platform which utilizes cutting edge technology to bring process, efficiency and transparency to financial advisors who work on small business retirement plans. The announcement was made during this year’s RPAG National Conference, being held here at the Ritz-Carlton Laguna Niguel from September 9-11, 2018.

Scott Buffington, financial services innovator, leads the organization as company founder and chief executive. Buffington’s successful 25-year career in the retirement and investment industry has included seven years at MassMutual as Head of National Sales, leading the largest advisor sold sales team within the industry, as well as nearly 13 years at Putnam Investments.  “In the small plan market, it is estimated that greater than 80 percent of transactions are completed by “generalist” financial advisors who may not have the expertise, tools or capacity to follow a prudent process where anything more than total cost is measured”, added Buffington. “Retirement “specialist” financial advisors have the knowledge but may not have the capacity to spend the hours needed to complete a proper due diligence process for a small plan. We will also provide access to TPAs’, as they play such a valuable role supporting advisors and providing guidance to plan sponsors.”

After nearly two years of working closely with Financial Advisors, Broker-Dealers, Third Party Administrators (TPAs’), 401(k) Providers and Investment Managers, the company has delivered an innovative digital platform that offers financial advisors a repeatable, documented process, that will significantly enhance efficiency, transparency and mitigate risk for plan fiduciaries. This platform will also be offered as an institutional “white labeled” solution for a limited number of broker-dealers or large advisor firms. The technology is configurable and has the flexibility to include specific 401(k) Providers, approved investment options, 3(21)/3(38) fiduciary programs, as well as dashboards of reporting and analytics for enhanced oversight.

Within a few short minutes the financial advisor can complete a documented eight-step due diligence process. The advisor can download and update publicly available information for a plan. Then based on available data, calculate the point in time current total cost of the plan and determine the allocation of the assets by fund category. The system will then automatically compare the total cost of the plan to a “reasonable range” of a transparent benchmark average based on the actual plan data and market-based pricing.

Providers that are a good fit for the client will be identified and a customized due diligence document is created which would include the broker-dealers required compliance language and disclosures. Following presentations from the retirement wholesalers, the financial advisor can select the winning provider right on the App and expedite the transition process to the new Provider.   

Access to the App will be offered to financial advisors by invitation from the Investment Managers, 401(k) Providers and TPA’s that participate on the platform. A financial advisor may also request access to an account directly on  

About LLC is committed to solving a well- known industry problem by leveraging technology and more than 25 years of industry experience working with financial advisors and TPA’s. What makes so unique is that the objective of the application is to create efficiencies and enhance transparency that benefits all parties involved in a retirement plan transaction. We create a digital interconnected community of local resources that can assist the financial advisor. To learn more about visit our website or download the App on the Apple App Store (IOS) or Google Play Store (Android).

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