Premier Financial Group recognizes the magnitude of a plan sponsor’s decision to change their retirement plan provider. Premier not only has experience in plan conversions but we have established processes and hired people who are personally committed to making the conversion as easy on the plan sponsor as possible. We have carefully elected to work with other additional plan service providers who have the same commitment.
Plan conversions can be complex, prone to errors, and highly dreaded events. A poorly handled plan conversion can erase many of the advantages of upgrading your plan. Conversions can be frustrating, time consuming, costly, and they often set the tone for the professional relationship as well as participant satisfaction.
Unfortunately, most plan providers view your retirement plan as just another account and they often do not take a proactive role in the conversion process. The advisor directly responsible to you may have little experience in complex plan conversions and little influence on resolving conversion issues with other plan service providers. Their primary motivation is to make the sale and not worry about the details. If you have had a plan conversion in the past, you and your participants may have suffered through this experience.
However, staying with a plan that is not working is no solution either.
With this understanding, Premier Financial Group has become an integral part of the conversion process for all of its clients. As your advocate, Premier assumes a proactive role and is accountable to you and your participants to complete the transition process. Our retirement plan conversion team will be instrumental in working with you, the plan provider, and the TPA to ensure a successful transition.
First Chapter: Conversion Process
