RFP Process

Stiles Financial Services is ideally positioned to run your Request for Proposal project. Whether the purpose is to benchmark your current providers or to make a specific change to your support team, our expertise in handling the process, asking and gathering the right questions and information is critical to making the right decision.

SFSI understands that selecting and monitoring your service team is a fiduciary function that requires the proper due diligence and expertise. Our experience with many different vendors allows us to gather the data and sieve through the pertinent information to deliver a thoughtful and comprehensive package to guide you and your fiduciary colleagues to making informed and educated decisions on your plan’s service team.

We develop a custom RFP that reflects your plan objectives and goals. We utilize an online electronic process for vendor submissions. We do not utilize canned RFP questionnaire templates commonly used in the industry and as a result the information that we gather is meaningful to your specific plan. We will often follow up with phone interviews with the vendor to capture nuances that may not be reflected in the questionnaire process. We prepare a comprehensive report that we present to the committee that oversees the plan and discuss the results with you.

We will review vendor contracts, negotiate fees and ultimately we will oversee and facilitate the conversion process if the decision is made to make a change.

  • Our role during conversion is to help ensure a smooth, accurate and efficient transition
  • Our function is hands on and involved with all aspects of the conversion process
  • Participant notices must be accurate and timely
  • Plan design changes need to be reviewed and document changes scrutinized
  • Summary Plan Descriptions and enrollment materials need to be read in detail to capture potential transfer errors
  • We work with both the outgoing vendor and the incoming vendor to make sure that communication is in order
  • We review contracts, negotiate fees and provide guidance to the Plan Sponsor
  • We provide education and support to plan participants so that they understand the process and why the change is made so that they are more secure in knowing that their assets are managed with prudent oversight

Additionally, we will provide advice with regards to the investments offered in the plan, we will screen for a new investment lineup and develop a fund mapping schedule. The fund screening process includes expense ratio and revenue sharing disclosure. Selecting the appropriate share class is critical to the overall cost of the plan to participants in coordination with the corporate philosophy on how costs associated with operating the plan will be paid. The options are:

  1. 100% revenue share
  2. Partial revenue share and partial company paid
  3. Zero revenue share and 100% company paid

In conclusion, our process is custom and detailed and designed to minimize the Plan Sponsor’s involvement in the minutia, but to prepare and deliver a comprehensive report to enable educated and informed decisions by the plan fiduciaries.

We conduct RFPs for record-keepers, custodians and trustees, third party administration and for plan advisors.

SFSI, also participates in RFPs that are seeking the services of an independent retirement plan consultant.


Unless otherwise exempted by law, this website, our investment advisory and securities transactional services are only for residents of AZ, CA, CT, FL, IA, MN, NV, NY, OR, TX, WA, and WI. Stiles Financial Services, Inc. is a Registered Investment Adviser. Advisory services offered through Cambridge Investment Research Advisors, a Registered Investment Adviser. Securities offered through Cambridge Investment Research, Inc., Member FINRA & SIPC. Cambridge & Stiles Financial Services, Inc. are not affiliated.