RFPs – How Much, How Often, and How?

RFPs, or requests for proposal, have long been valued tools in advisor arsenals.  There are, however, varying opinions as to what they should include, and even how often they should be issued.  What’s your experience/opinion?

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* 1. How often do you GENERALLY recommend that a formal RFP be prepared?

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* 2. How often do your plan sponsor clients actually do RFPs?

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* 3. Are you doing RFPs more or less frequently than two years ago.

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* 4. Do you find that they are longer/more detailed or shorter than two years ago?

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* 5. Why do your plan sponsor clients do RFPs?

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* 6. Do you benchmark YOUR fees/services?

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* 7. What's the stupidest question (or response) you've ever seen on an RFP?

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* 8. Any other comments about RFPs, the frequency of RFPs, the efficacy of RFPs, the need for RFPs (or lack thereof), or stupid questions (or responses) on RFPs?

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* 9. What is your role working with retirement plans?

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* 10. What size plans do you PRIMARILY work with?

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* 11. Suggestions for future survey questions?

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* 12. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...

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