Precept RPS
Linda Bright, Doug Igel (Irvine, California)
Reported by PLANADVISER Staff
As for what the company expects from its clients: “They have to care about the ongoing management of their plans,” Bright says. “We can make all kinds of recommendations but, if the plan sponsor doesn’t want to put in the time and energy to make it a competitive offering, a partnership is difficult to establish,” she explains.
In return, the Precept team works with its 70 plan clients (representing $1.2 billion in plan assets) and their committees reviewing plan design, performing vendor and fee benchmarking, and performing ongoing investment monitoring. “We are constantly looking out for our clients and possible fee reductions and service enhancements,” Igel says. The team also delivers group education meetings, usually semiannually, Bright says.
The firm expects to add two RPS members this year to respond to anticipated growth. The team will focus on offering more technology solutions to clients, Bright says, including a client portal to house fiduciary and committee documents; access to plan design and fee benchmarking information online; a video conferencing feature for committee meetings; and Webinars for employee educational sessions.