Top Advantages of Using a Consultant for a Retirement Plan Transition

A consultant can answer: Is this normal?

Stuff goes awry during transitions sometimes. A consultant can help you understand what’s normal, what’s not, and what to expect, so that you have a frame of reference. Much like planning and executing a wedding, there’s a big difference in how mishaps are handled and the bride’s (or her mother’s) interpretations of how bad the mishaps are.

A consultant can run interference for you.

If given the right permissions, a good consultant may be able to iron things out behind the scenes and reduce your workload. They can answer data requests, get you prepared, translate industry jargon, explain the “why,” and much, much more. Consultants are valuable time savers.

A consultant knows the questions to ask.

From making sure efforts aren’t duplicated to streamlining data requests, consultants are a valuable asset to help see the big picture while saving time and effort. They participate as an active part of the transition, anticipating your needs and seeing around the corners for what might be coming next.

A consultant relieves the burden of answering participant questions.

A consultant offering educational assistance (FYI - this assumes you don’t have 10,000 employees) will be able to craft a high quality transition education campaign and take an active role in answering employee questions. Much like you hire a spokesperson for media, consultants can often perform this role and act as an outside, independent voice to help employees understand what is going on and answer their concerns.

We consult on plans for organizations where they value their company culture and have usually outgrown their vendor. If you need shortcuts in process of transitioning a plan, we’d be happy to assist. Contact us today!