PLANADVISER - March/April 2019 - 25

LOCATION: Atlanta, Georgia
PLAN ASSETS UNDER ADVISEMENT: $1.35 billion
MEDIAN PLAN SIZE, IN ASSETS: $45 million
PLANS UNDER ADMINISTRATION: 30
PARTICIPANTS: 6,250
SUPPORT STAFF: 2
As of December 31, 2018
of clients when it comes to defining
success metrics. For example, some
groups of participants in the investment
industry do not use an asset-allocation
solution. In addition, some plan
sponsor clients' participation rates
remain below 90% due to workforce
issues with non-U.S. companies and
their non-U.S. citizen employees.
Rather than being perturbed by the
potential complexity of working with
so many non-U.S. companies, Lander
instead embraces the challenge.
" All of RBA's clients know that we
are available at all times and for whatever
question or concern they might
have, " Lander says. " They never deal
directly with the recordkeeper, other
than on payroll remittance issues. "
According to Lander, a big part
of this holistic service approach is
helping plan sponsors understand
how they can analyze and reorganize
their benefits spending to maximize
employee outcomes and reinforce the
benefit to the employer.
" Whatever dollars are being spent,
we want to help the plan sponsor deploy
these in a way that has the biggest
impact for employees, " she says.
Lander's firm further stands out
for its egalitarian approach to its
diverse plan sponsor base. The practice
provides the same services to
every client regardless of its size, and
Lander says this will not change, as
Ellen Lander
RBA plans to maintain its identity as
a specialist boutique.
According to Lander, clients have
been receptive in the last several
years to small increases in the advisory
fee RBA charges, because they
understand the strong value of the
services being delivered.
" To recognize growth in assets,
which oftentimes makes the plan more
complicated than when we first took on
the client, we have implemented a 'cost
of risk' factor and increase our fees by
2 or 3 basis points [bps] of assets above
a certain threshold, " she says. " The
threshold depends upon the client,
its plan, and information we may be
aware of as to future growth plans, for
example through M&A [mergers and
acquisitions] activity. "
To ensure plan sponsor clients
understand what they are paying and
why, all of RBA's consulting agreements
are specific as to what services
are provided for its fees. Other services
that a client may want or need at some
point are charged on a per-project or
per diem rate.
" An example for a per diem rate
would be if a client wants us to
conduct educational seminars; [we'd
charge] a project rate for conducting
due diligence on a potential acquisition
one of our clients has identified, "
Lander says. " Although we do reserve
the right to charge a per project fee for
an RFP [request for proposals], we tend
to waive that fee. " -John Manganaro
planadviser.com March-April 2019 | 25
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PLANADVISER - March/April 2019

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