Three Ways A TPA Can Help Reduce Your Administrative Burdens
As a financial advisor, one of your primary goals is to streamline the interaction between you and your clients. This eases administrative burdens on all parties. Bringing in a TPA (third party administrator) can help distribute tasks and make everything go more smoothly.
You’ve probably had clients who had to handle issues ranging from ADP testing forms to highly compensated employees and top-heavy issues. A TPA or qualified plan consultant can help your organization avoid those issues through proper plan design on the front end. They can also provide solutions to mitigate the impact of those issues. A TPA can work with your client to make the process of data collection and filing much more efficient. A TPA can also assist in plan administration by fielding common questions from clients before they get to you. This will free up your time for client relations and new business development.
At Odyssey Advisors, we believe that strong relationships are built and maintained by being efficient, personalized and accessible. Our reputable and trusted staff provides day-to-day administrative tasks for your clients, allowing you to focus on other pressing matters.
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