ExpertPlan, Inc. Announces Partnership With Fiduciary Benchmarks

Aug 14, 2012, 09:00 ET from ExpertPlan, Inc.

EAST WINDSOR, N.J., Aug. 14, 2012 /PRNewswire/ -- ExpertPlan, the leader provider of private label recordkeeping plan services, today announced a partnership where Fiduciary Benchmarks will provide 408(b)(2) summary disclosure documents and independent third-party benchmarking to ExpertPlan's more than 16,000 clients.

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Under the partnership, ExpertPlan will electronically deliver over 200 plan level key metric data points to Fiduciary Benchmarks on a continuous basis, thereby ensuring plans are always up-to-date for review.  In turn, FBi will furnish ExpertPlan with a fully comprehensive benchmarking report which ExpertPlan will make accessible within the customized fee disclosure section of its recordkeeping system website for Plan Sponsors, Third Party Administrators and Financial Advisors to access online 24/7. The report will include a definitive outline of fees, services and a fiduciary status which goes beyond what is being required today by the Department of Labor regulations under ERISA, and specifically section 408(b)(2).

Ross Brown, Senior Vice President of Sales & Relationship Management, stated, "ExpertPlan has long embraced the concept of fee transparency through our proprietary recordkeeping platform. We will use the FBi service to assist plan fiduciaries and our valued network of financial advisor partners in focusing on the more significant metrics of successful plan operation and quality service.  Given the regulatory and legal environment on this important fiduciary topic, Plan Fiduciaries will be held more accountable to determining the reasonableness of their fees and the quality of their investment offerings. Continuous data availability will greatly assist them in satisfying their fiduciary obligations. FBi has clearly distinguished itself as the technological leader in benchmark reporting, delivering a value added service to covered service providers such as ExpertPlan."

Per Tom Kmak, CEO of FBi, "We are proud to have been chosen by ExpertPlan to fulfill this important regulatory service for their clients and institutional partners.  As an independent recordkeeper operating today under a pure open architecture platform, ExpertPlan is the latest covered service provider to adopt an automated and continuous method of providing fee and benchmarking data to all of its clients."

About ExpertPlan
ExpertPlan, Inc., headquartered outside of Princeton, New Jersey, is the premier provider of private-labeled recordkeeping solutions to asset management firms, TPAs, RIAs, broker dealers, insurance companies, CPAs, payroll companies, accountants and banks that serve 401(k) and other defined contribution plans. The firm's scalable recordkeeping solution can be customized to fully integrate with a client's business and distribution models. For more information about ExpertPlan, visit

About Fiduciary Benchmarks
Fiduciary Benchmarks is recognized as one of the industry's leading services for independent, comprehensive, informative and cost-effective benchmarking services for retirement plans. Started in 2007 by several industry experts, the company now has almost 600 respected advisors/consultants using the service.  In addition, the company provides benchmarking services to respected broker-dealers, investment only managers, plan sponsors and recordkeepers.  For more information about Fiduciary Benchmarks, visit

SOURCE ExpertPlan, Inc.