Competition amongst service providers is difficult.  Secondly, plan sponsors want more and more service at lower and lower fees which makes prospecting and retaining plan sponsors difficult.  And finally, between regulators, lawyers and politicians, plan sponsors need and want to become more educated to keeep and bring their plans into compliance with the RIGHT service providers.  The Ignite and The FIRE System were created with this in mind. 

Uses For Service Providers:

  1. Prospecting For Client to Use Your Current Services
  2. Create New Business Opportunities Via Consulting in the 401(k) market
  3. Differentiating Yourself from Your Competition
  4. Education of Current And Prospective Clients
  5. Reduce The Plan Sponsor’s (And Your) Risk/Liability
  6. Become a Valuable Resource

Benefits to You

  1. Increased Role As Trusted Advisor
    • You become their main advisor to help them reduce their fiduciary risk. You guide them through The FIRE System to help them find their fiduciary and compliance issues/violations and solutions. You are there to help guide them.
  2. Assistance In Growing Your Business/Prospecting
    • Third-party providers are adding annual reviews of a plan’s 401(k) plan utilizing The FIRE System’s Fiduciary Assessments to their prospect pitch book which gives you a value added service that makes you a go to advisor they can trust.
  3. Add/Expand With A New Value Added Client Service
    • Third-party providers are using this new service to help existing clients by helping them with 401(k) Plan Fiduciary Assessments and Education.
  4. Protection/Reduce Liability
    • Almost 60% of Plan Sponsors think their providers (you) accept full discretion and liability1. Whether you (as a third-party) are a fiduciary or not, The FIRE System helps to protect you by educating your clients about their responsibilities and helping bring their plans into compliance.
  5. Expert Support
    • Marketing and fiduciary education tools including webinars, handouts to help you educate your clients and prospects on The FIRE System and being a fiduciary.
  6. Institutional/Volume Pricing
    • Reduced pricing to allow you to charge for your experience and guidance.  Institutional licensing and additional volume discount may apply to your book of business.