The new platform claims to reduce ‘months into minutes’ for RFIs and RFPs.
Benetic’s new online platform allows advisers and consultants to evaluate recordkeepers and asset managers to generate proposals, requests for proposals (RFPs), requests for information (RFIs) and plan comparisons quickly.
Ray Conley, CEO of Benetic, says the platform allows advisers to gain efficiencies and streamline their workflow, taking over everything from RFPs and plan service negotiations to pricing conversations, changes in products and investments. Although the platform focuses on plans of $20 million and larger, it is valuable for all size plans, he tells PLANADVISER.
The platform was built by Silicon Valley engineers with backgrounds at the Massachusetts Institute of Technology (MIT), Google and Facebook, who created what the company has named the Benetic Match intelligent search, which compares each provider’s differentiated value with the unique needs of each retirement plan.