ClearSage Advisory Group is transforming the retirement plan services industry by delivering a new service model that leverages technology and scalable service delivery models while also eliminating conflicts of interest and gaps in fiduciary oversight.
The Traditional Model
As seen below, the traditional model has the plan sponsor directly responsible for monitoring ALL service providers involved. Operationally this is highly inefficient, less effective to produce intended financial results and provides inferior fiduciary protection.
The ClearSage Advisory Group’s New Service Model
ClearSage has developed a new service model delivering superior service to both plan sponsors and plan participants at a lower cost, while also improving participant retirement outcomes and providing greater fiduciary protection to plan sponsors.
Within this model, employers will benefit from our following services:
- Selection and monitoring of all service providers
- Prudent Process Documentation
- Ongoing review and analysis of fee disclosures for all service providers
- Execute informal competitive bidding process for service providers when needed
- Negotiation with service providers to receive services at reasonable fees
- Attendance of plan committee meetings
- Review & analysis of non-discrimination testing results
- Plan design consulting (settlor expenses paid outside of plan)
- Fiduciary Education to your Plan Committee
- Perform competitive Request for Information process for service providers
- Perform competitive Formal Request for Proposal process for service providers
- Documentation of trade-offs and rationale for prudent fiduciary decisions
- Serve as primary point of contact for all service providers
- Facilitation of implementation and/or conversion process(es)
- Provide compliance consulting, review of 5500 documentation, and resolution of plan issues