Before a Prospect can trust you enough to hire you, they need trust the data you provide and find value in your expertise. FDI’s Plan Profile report is your first meeting solution for demonstrating that you bring quality data, a holistic approach and depth of knowledge that will position you as their trusted partner.
The Best Data
You can confidently tell prospective Plan Sponsors that you have partnered with FDI, an independent third party and the industry leader for Defined Contribution plan data. You can also assure them that all of FDI’s data is current, accurate and consistent with 408(b) disclosures because it comes directly from the people who know the plan best – the plan’s Service Providers as part of plan benchmarking exercises.
Apples to Apples
FDI’s Plan Profile report is a plan universe report. This means that there is no data specific to your prospective Plan Sponsor in the report but rather volumes of data about similar plans. So, Service Provider data is pulled based on the factors that drive their costs – assets, participant count and average account balance. Investment line-up data is pulled based on assets. Plan design and participant success measure data is pulled based on assets and industry.
For each of a plan's Service Providers see the typical services provided, the middle 50% of fees in both dollars and basis points, how the fees are being paid and who is paying them.
Share with a prospective Plan Sponsor actionable data on plan design for their industry as well as the participant success measures that these plans are achieving.
Often you will not know a Plan Sponsor’s hot buttons when walking into that first meeting. So, why not cover all the bases to ensure you catch their attention and demonstrate the breadth of your knowledge. FDI’s Plan Profile report will allow you to discuss Service Providers services and fees, investment line-up construction, plan design and participant success measures.
Identify, Engage and Close
First, you IDENTIFY your prospects using FDI’s 5500 search and sales funnel to track progress. Then, you can then ENGAGE them with our Plan Profile report. Once engaged it is now time to CLOSE that new business using FDI’s FeeBuilder report. This report allows you to demonstrate your Quality, Service, Value and Extra Credit in a simple, two-page report that should be a part of every proposal you generate. It is essentially an independent, third party validation of your fee reasonableness which will help you build trust with a prospective client.
And there is so much more! Schedule a demo to see how FDI’s Identify, Engage and Close sales lifecycle Plan Profile component of the Business Management Dashboard can change your practice.