Welcome to Retirement Plan Services, LLC (RPS)
RPS was founded in 1989 by a group of financial planners with concentrated expertise in the qualified retirement plan arena. The formation of RPS was the product of the frustration these individuals encountered with the firms to whom they had been outsourcing the record keeping and administrative functions for their retirement plan clients. The founders of RPS noted that each provider had one or two strengths, but that none had yet to bundle the best of all practices into a single source solution. With that in mind, RPS was created and a “best practices” model of operation was adopted. Some of our “best practices” include:
- Investment independence (True Open Architecture)
- Client focused processes and procedures
- Full Fee Disclosure and Dollar for Dollar Revenue Sharing Credits
- Core business focus and expertise
- High touch relationship management provided by Principals of RPS
Our Service Philosophy:
The retirement plan industry has become largely commoditized by institutional providers whose core functions are in businesses other than qualified retirement plan administration, and who oftentimes focus their product development on standardization which places more burden on the plan sponsor. We at RPS remain committed to establishing processes, procedures, services, and systems that highlight our history as a Third Party Administrator and that de-commoditize the industry and result in less work for our plan sponsor clients, not more.
At our very core we are a service company and guarantee that our services will meet and/or exceed client expectations.
Our People:
At RPS, our Plan Specialists average 13 years of experience in working with qualified retirement plans. Their backgrounds vary; however, each has demonstrated competencies in understanding and applying the regulations in helping their clients maintain their qualified retirement plan.
Many of our Plan Specialists hold designations from the American Society of Pension Professionals and Actuaries (ASPPA). Plan Specialists holding these designations are recognized by their peers and their industry as experts in their field.
Investments:
Perhaps it is what you do not see here, rather than what you do that differentiates us from our competition. What you don't see:
- A list of 60 to 300 “available” funds
- RPS mutual funds included in that list
One of the founding principles of RPS was to provide its advisor partners with an investment platform and fee structure that gives them the opportunity to provide objective investment recommendations from the largest universe of investments possible. With this in mind, RPS has developed an unparalleled investment universe from which our advisor partners can make recommendations. Investments available through RPS:
- Mutual Funds – Access to over 5,000 no-load, load-waived, and institutional mutual funds from over 340 mutual fund families.
- Self-Directed Brokerage Accounts – RPS can establish fully integrated Charles Schwab Personal Choice Retirement Accounts® for those plan sponsors that would like additional investment flexibility.
Fees:
We work for a plainly-stated fee, impose no investment restrictions on our clients, and if we receive any form of revenue sharing from the investments in the plan, we provide a dollar-for-dollar fee credit - reported to our clients on a quarterly fee bill.
Why do we choose to do it this way, despite its obvious disadvantages?
- It is the right thing to do.
- It is the easiest way to do it.
- It is the only means by which we can support the objective investment advice provided through our advisor partners.
