The Benefits of a Non-Producing TPA

//The Benefits of a Non-Producing TPA

The Benefits of a Non-Producing TPA

As a financial advisor, you will need to decide which TPA (third-party administrator) to partner with, when managing your client’s 401(k) plan. As you are determining which provider to use, it is important to understand the distinct roles within the plan and how your partnership decisions could impact your client’s experience.

401(k) TPAs can fall into one of two broad categories or models; producing and non-producing. A non-producing TPA focuses strictly on administration, consulting and compliance whereas a producing TPA can also provide investment services. Producing TPAs may also receive commissions on investments beyond the standard TPA fees.

RPG Consultants is a non-producing TPA. We do NOT sell any investment products and do NOT compete for business with financial advisors. We focus strictly on plan consulting, compliance and administration and we do not perform any of the investment functions that a financial advisor would typically do.

In partnership with our advisors, we also offer an open architecture recordkeeping platform that allows our clients access to the benefit of our expertise in each area so that they can maximize the plan design and investment strategy to meet their retirement goals.

Why would a financial advisor benefit from RPG’s “non-producing TPA” service model?

  1. We don’t compete with you.
  2. We can show clients clear compensation for services provided by eliminating hidden fees, investment commissions and revenue sharing.
  3. We can work with any recordkeeping platform or you can utilize our open architecture recordkeeping platform which allows you to choose any mutual fund family, ETF and managed strategy – all at the lowest cost share class.
  4. We can offer clients the benefit of our expertise in each area so that they can maximize the plan design and investment strategy to meet their retirement goals.

About RPG Consultants:
RPG Consultants is a CEFEX-Certified Recordkeeper and Third Party Administrator (TPA) for retirement and benefit plans. Our retirement plan consultants at RPG provide a full range of professional, administrative, actuarial and consulting services as well as in-house daily recordkeeping. We have a dedicated Compliance department to ensure that all our plans remain in compliance with legislative changes and IRS/DOL requirements. We offer true open architecture investment choices of any mutual fund family, ETF and managed strategy – with no revenue sharing. RPG Consultants is a “non-producing” TPA – we do not market or sell investments. We strictly provide value-added consulting, administration and recordkeeping for company benefit plans. For more information about our services, call 212-947-4800 ext 225 or email marketing@rpgconsultants.com.

2018-07-10T10:37:17+00:00 July 10th, 2018|Categories: 401k Resources|Tags: , , , , |Comments Off on The Benefits of a Non-Producing TPA