TIAA-CREF recently spoke with not-for-profit clients to learn what they look for in a consulting relationship. Here are the top 10 qualities those clients want:

 

 

 

 

 

1. Expertise with not-for-profit institutions – in higher education, health care, government and general not-for-profit markets.

 

 

 

 

 

 

2. Knowledge of what peers are doing at comparable institutions, including their plan structures and best practices for their employees.

 

 

 

 

 

 

3. Proffer new ideas to the retirement plan committee that demonstrate the value of consultive guidance.

 


 

 

 

 

4. A consultative team of subject matter experts to work with our organization to address all facets of our retirement plan.

 


 

 

 

 

5. Guide our development of a communication and education curriculum and prudent fiduciary process, advocating for change across our team when it is called for.

 


 

 

 

 

6. Strong ties to the local community.

 


 

 

 

 

7. A team of retirement plan professionals that represent a cultural fit with our organization. A team that takes the time to understand our organizational objectives and challenges.

 


 

 

 

 

8. A retirement plan team of professionals that will negotiate and advocate on our behalf with plan providers and fund managers to help us ensure the quality and integrity of our retirement plan and its objectives.

 


 

 

 

 

9. A business partner that strives to exceed our expectations.

 


 

 

 

 

10. Competitive fees that are commensurate with services delivered.

Source: TIAA-Cref, developed from conversations with clients.