Service Provider Searches
Yon-Drake conducts searches for third-party service providers such as custodians, actuaries, DC plan administrators, DC plan package providers, banking relationships, and others. As an independent third-party, we believe that we are uniquely qualified to assist clients with defining and searching for investment related services.
In some cases, we have designed detailed RFP questionnaires that serve as the basis for analyzing, comparing, and evaluating service providers. We have conducted a number of interviews designed to ascertain the best candidate with a high degree of client rapport.
Defined contribution plans (401k, 403b) are a fertile area for our involvement. Because of the complexity of administration, selecting and monitoring investments, participant communication and fiduciary liability, we find a number of sponsors who need an objective third-party to assist in dissecting and understanding the services and fees involved with the bundled providers. Similarly, we have sponsors who want to pursue an unbundled approach. We provide the necessary knowledge and skills to identify qualified, cost effective providers in each area of responsibility.