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…

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Promote Growth and Retention

A TPA promotes growth and retention Most clients and prospects are looking for more than a “one man band” when it comes to financial consulting. They prefer to see a team with a depth of expertise. A third party administrator acts as an intermediary between you and your clients. They are skilled at handling administrative work.…

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Increase Market Opportunity

A TPA can increase market opportunity A third party administrator can use their expertise to expand your business into new markets. Rather than just looking for “vanilla” or “cookie cutter” plans, a TPA’s expertise will allow you to provide custom solutions to problems. This enables you to sell a solution instead of a product, all…

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Expand Your Service Offerings

A TPA can expand your service offerings In the financial planning realm, we work with a great variety of businesses, and each has a unique set of needs and priorities. For example, a 27 year-old startup business owner with two employees has a foreseeable range of relatively straightforward needs. Compare him to the 56 year-old…

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The IRS Identifies Common Mistakes by 401(k) Plans

Few things make palms sweat and throats constrict more quickly than when the IRS hands out a list of “mistakes.” Each year, the IRS publishes a list of common mistakes by companies that sponsor 401(k) retirement plans. Instead of being intimidating, however, the tax agency’s findings can actually prove beneficial to those businesses that take…

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