Independent registered investment advisor OpenArc Corporate Advisory has expanded its institutional consulting platform to offer independent provider search services, delivering a single fiduciary solution across retirement, deferred compensation, equity compensation, health savings accounts (HSAs), and broader workplace benefits programs. BLeveraging its tradition of institutional investment fiduciary expertise, OpenArc provides plan sponsors with a mechanism to objectively assess, benchmark, and select service providers using requests for information (RFI) and requests for proposals (RFP). As either a 3(38) investment manager or a 3(21) fiduciary, the company runs entirely conflict-free in terms of revenue sharing, product management, and plan administration. This expansion comes as recordkeeping, investment management, and advice become increasingly concentrated among large integrated providers, where consolidation can introduce complex economic incentives.
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Contextualizing the market need for objective governance, Chad Pigg Fife, Principal Partner, Institutional Consulting and Corporate Business Development at OpenArc Corporate Advisory, stated: “Plan sponsors are increasingly being asked to evaluate providers and advice across every area of their benefits program, from 401(k) plans and nonqualified deferred compensation programs to equity compensation and HSAs. Whether a sponsor is reviewing a single plan or undertaking a broader evaluation of multiple benefit programs, OpenArc serves as the independent fiduciary partner in the room, helping organizations navigate provider complexity, make informed decisions, and fulfill their fiduciary responsibilities.” Serving mid-market, large-market, and mega-market organizations, OpenArc’s specialized team recognized among Barron’s “Top 100 Consulting Teams” equips plan sponsors with unbiased guidance across the entire plan lifecycle.
