 Plan
Advisors - Overview
For over 20 years,
we have heard most estate planning and benefit Plan Advisors
repeatedly say, “We don’t have the necessary
time or expertise to serve the pension plan marketplace, and
besides, other products pay us more”. Workplace
Pension Solutions (Canada) Inc. (WPS) can provide solutions
for each of these concerns. Let us show you how we can
save you time, increase your bottom line, improve your firm’s
value proposition and safeguard your business from the competition.
We ensure confidentiality and always act in the best
interest of our CAP Associate Plan Advisors.
We refer all opportunities
for individual life insurance, living benefits, group life
and health insurance, segregated fund, mutual fund or securities
selection sales to our Associate Plan Advisors.
At WPS, our only focus is the employer sponsored savings plan
business, which would also include a collector plan that provide
terminating plan members with personal RRSPs, RRIFs, LIFs
and Annuities.
We cannot overstate
our will to remain independent.
By choosing to work with WPS, together we bridge the service
gap created by the consolidation within the pension service
provider industry. As a team, we can regain the levels of
service that are typically reserved for only those few Plan
Advisors that have large blocks of group pension business.
Plan Advisors -
Business Scope
The Workplace Pension
Solutions promise is to stick to their knitting.
Our professional Associate Plan Advisors bring to
the table many years of education and experience in providing
expertise in the areas of estate and financial planning, group
insurance and wealth management. To add depth to this
diversity of professional services, WPS will support the Associate
Plan Advisor in coordinating the safe management within one
or all of the following classifications inside an employer
sponsored savings plan:
For the
Executive
- Individual Pension Plan
- Retirement Compensation Arrangement or Secular Trust
- Self-Directed Registered Retirement Savings Plan
For Management
Staff
- Structured Group Registered Retirement Savings Plan
- Employee Stock Purchase Plan
- Employee Income Trust Purchase Plan
- Deferred Profit Sharing Plan
- Non-Registered Thrift Plan
For Salaried
and Hourly Staff
- Defined Contribution Registered Pension Plan
- Deferred Profit Sharing Plan
- Structured or Voluntary Group Registered Retirement Savings
Plan
- Employee Stock Option Plan
- Employee Income Trust Purchase Plan
- Non-Registered Thrift Plan
Plan Advisors -
Support Services
Workplace Pension
Solutions will initially assist their Associate Plan
Advisors with the creation of a business strategy for the
acquisition of new employer sponsored savings plan clients.
Within the engagement, WPS will act only in the best interests
of their Associate Plan Advisor, which means an added
level of new prospecting for all lines of business within
the savings and insurance marketplace.
 WPS
has developed a package of support documents and procedures
closely tied to the Joint Forum and CAPSA Guidelines in which
all facets of plan management can be customized for each new
situation:
- Request for Proposal (RFP) asks up to 150 questions that
investigate areas of interest, though, we may decide that
only 30 or 50 questions are necessary.
- Cost Benefit Analysis summarizes the pertinent competitor
information in an orderly and measurable fashion so the
Retirement Plan Committee (RPC) can make clear decisions.
- Statement of Plan Management Policies & Procedures
and it's accompanying RPC Agenda easily navigates through
the complexities of the increasingly higher expectations
of regulators.
- Life Insurance Company Pooled Fund Performance Survey
monitors the performance of your fund manager and their
managed funds against their direct competition and stated
benchmarks on a quarterly frequency.
- Additional support documents assist in meeting and exceeding
the requirements of the Guidelines.
Terminating employees
and their beneficiaries will need plain and timely reporting
on their options. WPS will work closely with the “Associate”
Plan Advisor to ensure participating employees know the proper
administrative procedures. Once contact is made, the exiting
employee will receive professional, unbiased one-on-one counseling.
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