Are you in the market for a new recordkeeper, Third Party Administrator (TPA), Registered Investment Advisor (RIA), or any combination of the above for your retirement plan? As a fiduciary of your company’s plan, you are charged with selecting competent and effective service providers. We understand this can be a daunting task, which is why we’ve compiled the below list of questions you should be prepared to ask potential plan providers. And, in good faith to show Sentinel Benefits & Financial Group has nothing to hide, we’ve taken the liberty of providing you with our answers to benchmark future responses you may receive.
1. How long has your company been a retirement plan provider?
In 1987, Sentinel Benefits & Financial Group began over a Carnevale family dinner. Read our story!
2. Do you offer recordkeeping, TPA and advisory services?
Yes. Unlike much of our competition, we are a recordkeeper, TPA and RIA.
3. Do you consider yourself a fiduciary (under the Investment Act of 1940 and ERISA) for the services you provide?
Yes. We are a CEFEX-certified firm with 3(21) and 3(38) ERISA fiduciaries.
4. What kind of plans do you specialize in?
5. What is the total number of employees in your organization?
6. How many retirement plans do you administer?
1,900 (including over 650 recordkeeping and 300 advisory plans)
7. What is your average employee-sized client?
275. We tend to work best with companies sized 50-500 employees.
8. What are your assets under management to date?
$6 billion in assets under recordkeeping administration; $3 billion in assets under advisory services
9. Do you offer service guarantees?
Yes. These vary based on the service(s) provided.
10. Do you provide education and investment advice to plan participants?
Yes. We ensure your employees have the information, resources and guidance to truly utilize everything your plan has to offer.