Last week, we discussed 10 questions to ask yourself about your retirement plan. Today, we present part two: 10 questions to ask a new retirement plan provider.

As a fiduciary of your company’s plan, you are charged with selecting competent and effective service providers. We understand this can be a daunting task, which is why we’ve compiled the below list of questions you should be prepared to ask potential plan providers. And, in good faith to show Sentinel Benefits & Financial Group has nothing to hide, we’ve taken the liberty of providing you with our answers to benchmark future responses you may receive.

1. How long has your company been a retirement plan provider?

Since 1987. Read our story!

2. Do you offer recordkeeping, TPA and advisory services?

Yes. Unlike much of our competition, we are a recordkeeper, TPA and RIA.

3. Do you consider yourself a fiduciary (under the Investment Act of 1940 and ERISA) for the services you provide?

Yes. We are a CEFEX-certified firm and can serve as 3(21),  3(38) and 3(16) ERISA fiduciaries.

4. What kind of plans do you specialize in?

We do it all—401(k), 401(a), 457(b), 403(b), Profit SharingCash Balance, Defined Benefit, and Non-Qualified plans.

5. What is the total number of employees in your organization?

200 (including 2 ERISA attorneys; 3 actuaries; 3 ERPAs; 12 accredited investment fiduciaries; 36 ASPPA-certified plan consultants; 3 CFA charterholders; and 6 CFPs)

6. How many retirement plans do you administer?


7. What is your average employee-sized client?

275. We tend to work best with companies sized 20-500 employees.

8. What are your assets under management to date?

$6.5 billion in assets under recordkeeping administration; $4.9 billion in assets under brokerage and advisory services

9. Do you offer service guarantees?

Yes. These vary based on the service(s) provided.

10. Do you provide education and investment advice to plan participants?

Yes. We ensure your employees have the information, resources and guidance to truly utilize everything your plan has to offer. 

No matter how good your retirement plan is, it won’t be effective if your employees don't know all their options.




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