PLANADVISER - July/August 2021 - 16

growing your practice / cover story
Proposals
Pleas
Make your
responses to
RFPs stand
out above
the rest
That
A
16 | planadviser.com July-August 2021 Art by A. Richard Allen
s senior director, marketing at CAPTRUST, Greg Middleton leads
the business development team. Last year, he says, the firm, which
is headquartered in Raleigh, North Carolina, saw about a 10%
reduction in the number of adviser requests for proposals (RFPs)
it received as employers dealt with more urgent pandemic issues.
With a return to normalcy beginning, he is seeing more plan sponsors ramp up
a search for a new adviser.
Since a year ago January, CAPTRUST has received RFPs most often from
plans in the $100 million to $250 million range, followed closely by plans with
up to $10 million in assets and plans with $10 million to $25 million in assets.
" There were specific services [such as participant advice] that were relied on
more heavily than normal during the past 15 months, " Middleton says. " We
typically see these scenarios about every 10 years, with the last one being
around the Great Recession. During these more volatile times, for some plan
sponsors it becomes clear that their advisory firm was not able to deliver the
services the way they were portrayed, when they were needed the most. This
resulted in some plan sponsors going back to market based on their experience. "
When a sponsor conducts an RFP to potentially switch to a new adviser,
knowing how to effectively respond is crucial. " RFPs are not going away:
They are here to stay, " Middleton says. " If advisers are growth-oriented, then
responding to RFPs will be a legitimate part of their process. "
P
P
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PLANADVISER - July/August 2021

Table of Contents for the Digital Edition of PLANADVISER - July/August 2021

Publisher’s Note
Data Points
Compliance News
Trends
Proposals That Please
2021 PLANADVISER Small-Plan Services Survey: Small Wonders
‘Like’ Me
Building Out Referral Networks
Look Toward The Future
Now A Fiduciary
Cybersecurity And ERISA
Q&A
PLANADVISER - July/August 2021 - Cover1
PLANADVISER - July/August 2021 - Cover2
PLANADVISER - July/August 2021 - 1
PLANADVISER - July/August 2021 - Publisher’s Note
PLANADVISER - July/August 2021 - 3
PLANADVISER - July/August 2021 - Data Points
PLANADVISER - July/August 2021 - 5
PLANADVISER - July/August 2021 - Compliance News
PLANADVISER - July/August 2021 - 7
PLANADVISER - July/August 2021 - 8
PLANADVISER - July/August 2021 - 9
PLANADVISER - July/August 2021 - Trends
PLANADVISER - July/August 2021 - 11
PLANADVISER - July/August 2021 - 12
PLANADVISER - July/August 2021 - 13
PLANADVISER - July/August 2021 - 14
PLANADVISER - July/August 2021 - 15
PLANADVISER - July/August 2021 - Proposals That Please
PLANADVISER - July/August 2021 - 17
PLANADVISER - July/August 2021 - 18
PLANADVISER - July/August 2021 - 19
PLANADVISER - July/August 2021 - 2021 PLANADVISER Small-Plan Services Survey: Small Wonders
PLANADVISER - July/August 2021 - 21
PLANADVISER - July/August 2021 - 22
PLANADVISER - July/August 2021 - 23
PLANADVISER - July/August 2021 - 24
PLANADVISER - July/August 2021 - 25
PLANADVISER - July/August 2021 - 26
PLANADVISER - July/August 2021 - 27
PLANADVISER - July/August 2021 - ‘Like’ Me
PLANADVISER - July/August 2021 - 29
PLANADVISER - July/August 2021 - 30
PLANADVISER - July/August 2021 - 31
PLANADVISER - July/August 2021 - 32
PLANADVISER - July/August 2021 - 33
PLANADVISER - July/August 2021 - Building Out Referral Networks
PLANADVISER - July/August 2021 - 35
PLANADVISER - July/August 2021 - Look Toward The Future
PLANADVISER - July/August 2021 - 37
PLANADVISER - July/August 2021 - Now A Fiduciary
PLANADVISER - July/August 2021 - Cybersecurity And ERISA
PLANADVISER - July/August 2021 - Q&A
PLANADVISER - July/August 2021 - Cover3
PLANADVISER - July/August 2021 - Cover4
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