Benefit Broker Services
Clarity on broker fees and services without your team managing every detail.
| Length | 202 words |
| FAQs | 6 |
| Reading time | 1 min |
If you are being asked to document broker fees and services, or to confirm that what you are paying is reasonable, an RFP process can bring clarity without your team having to manage every detail.
This is usually a fit when renewals feel heavier than they should, service has become inconsistent, leadership is asking for a market check, or you simply need cleaner documentation of broker fees and value for your files.
Culpepper RFP, LLC supports plan sponsors through an independent benefits broker RFP evaluation process. We help you compare services and fees against the broader market in a structured, documented way.
The Consolidated Appropriations Act (CAA) of 2021
The CAA introduced requirements around broker compensation disclosure and increased the focus on understanding and documenting fees related to health and welfare plans.
RFP Services Include
- Identification of the best brokers based on your size, location, and required services
- Writing of the RFP and management of the evaluation process
- Organization of suggested evaluation criteria
- All interaction with providers during the evaluation period
- Organization and presentation of RFP results
- Organization of finalist presentations and agenda
- Management of references from requested brokers
- Final fee negotiation of the selected firm based on 408(b)(2) disclosure of fees
Frequently Asked Questions
Is this meant for someone like me in HR or Finance, or is it really for advisors and attorneys?
If you are the person carrying the responsibility for benefits decisions inside the organization, this will feel familiar. Culpepper RFP supports HR and finance leaders, ERISA counsel, and committees, because the pressure and the risk often land on your desk either way.
What would you actually take off my plate?
Culpepper RFP manages the RFP process itself, so you are not piecing together vendor comparisons, chasing information, and trying to document everything between your day-to-day responsibilities. You are still involved in direction and fiduciary decisions, but the heavy lift of gathering, organizing, and evaluating is handled through our documented process.
How much time is this going to take from me and my team?
Our services are designed to reduce the time executives and internal teams spend managing details. Expect some upfront coordination and a few check-ins along the way. The goal is that you are not carrying weeks of follow-up, tracking, and evaluation work on top of everything else.
RFPs can get political. Does this make it harder?
That is a real concern. Our services are positioned as an independent third-party evaluation process, which can lower the temperature and keep the focus on documented criteria instead of internal pressure or preference. It will not erase politics, but it gives you a clear, neutral structure to point back to.
Do I need to already understand fees and benchmarking to get value from this?
No. Our evaluation processes support people who are accountable for the outcome, even if the technical details are not your daily focus. We can also help you evaluate whether going to an RFP is even necessary.
How do I know whether I need a full RFP, an RFI, or just a benchmarking audit?
You are not alone in asking. Before you sign up we review your objectives and discuss the most cost-effective and time-effective solution. Our services include fee and service benchmarking, RFI evaluation, and full RFP evaluations, so the approach can match the situation instead of defaulting to the most intensive option.
Schedule a Call
- Phone
- (203) 952-3776
- Hours
- Monday–Friday, 8 am–6 pm
- Schedule
- calendly.com/jgepfert