ProductsMarch 4, 2014

Slaughter 401(k) Rebrands as RPS Advisors

Richard P. Slaughter Associates 401(k) Services is now known as RPS Retirement Plan Advisors, a change the firm hopes will better reflect its focus on holistic advice and fiduciary support.

Reported by PLANADVISER staff

Under the new moniker, RPS Retirement Plan Advisors says it will work with plan sponsors and participants to improve retirement plan outcomes—chiefly through 3(38) fiduciary adviser arrangements. Along with the name change and a new logo, the company says it has also expanded its leadership team in the Dallas area through the addition of a new senior plan adviser, Phil Webb.

RPS says Webb has nearly 20 years of industry experience across sales, service delivery and advisory oversight of corporate retirement plans. In his new role, Webb will lead the firm’s Dallas office as it works to secure and grow fiduciary adviser relationships.

“The principle idea of a retirement plan for a company is to provide value to its employees and be a true benefit for recruitment and retention,” says Bob Tabor, vice president at RPS Retirement Plan Advisors. “If a company’s 401(k) plan isn’t managed properly, then it’s not a benefit to employees and it can become a significant liability to the company.”

Tabor says his firm will work diligently to alleviate liability for companies that sponsor retirement plans, while also supporting and improving employees’ retirement readiness.

RPS Retirement Plan Advisors says it will specialize in delivering a “FiduciaryPlus” strategy for corporate retirement plan clients. The service is designed to be a cost effective method to reduce stress on a company’s administrative workload related to its retirement plan, and to ensure compliance with Department of Labor requirements. Under the arrangement, RPS also takes on certain fiduciary liabilities for both the company and individual plan trustees.

RPS says the FiduciaryPlus strategy focuses on six specific areas to develop a healthy plan. These are plan design, retirement readiness programs, Employee Retirement Income Security Act (ERISA) compliance, service provider monitoring and oversight, investment quality and appropriateness, and cost control.

RPS Retirement Plan Advisors has offices in Austin, Texas, and the Dallas metro area.