SOURCE: HT Fiduciary Plan Advisors

HT Fiduciary Plan Advisors

May 21, 2015 10:47 ET

Fiduciary Plan Advisors Partners With Startup InHub for Industry Leading, Cloud-Based eRFP Technology

Partnership Enables Fiduciary Plan Advisors to Issue, Evaluate, and Document the Institutional Request for Proposal Process Online With Client Access and Participation

CHICAGO, IL--(Marketwired - May 21, 2015) - Fiduciary Plan Advisors (FPA), the Baltimore-based HighTower Network team that delivers full-service consulting on all types of employer sponsored retirement plans, today announced a new strategic partnership with InHub, the innovation company and creator of eRFP, the first web-based technology to digitize the institutional request for proposal (RFP) process. The partnership will provide FPA with InHub's eRFP technology, launching their current RFP consulting services online. Now, committee members of FPA's defined contribution, pension, healthcare, and endowment clients are able to participate in the RFP process by reviewing proposals and executive summaries, taking notes, and voting online.

"More RFPs are being conducted now than ever before -- and Committees hire us because they don't have the time or expertise to run the process. We were doing it the same inefficient way as everyone else, through Word documents and a lot of back and forth emails. InHub's eRFP tool will cut our time in 1/2 and allow our clients to get more involved -- it's the best of both worlds. We really could not have built it better ourselves," said Jania Stout, Practice Leader and Co-Founder of FPA. "InHub is a game changer in the institutional space; its technology is extremely transparent and interactive. eRFP enhances our services and is also an upgrade for the industry."

"The timing of this partnership couldn't be better," said Chad Wilson, Investment Director and Co-Founder of FPA. "We've seen a real uptick in demand for qualified advisors to guide committees through the process of identifying service providers, particularly for Outsourced Chief Investment Officer (OCIO) services. OCIO services for either endowments or large pension plans are in high demand and we feel we are qualified to help committees understand the differences between the large OCIO firms. The big consulting firms could definitely do this, but they are conflicted since most of them would also want to participate in the RFP. Additionally, with rising healthcare costs we've started to see opportunities on the Health & Welfare side to assist employers in identifying the right H&W Broker/Consultant for their organization. We have brought on several industry veterans that will help clients decipher through the RFP responses of Health & Welfare brokers/consultants and streamline the evaluation process. We believe this partnership allows us to free up time for Plan Sponsors and we can run a search process in an efficient and independent manner."

FPA's RFP consulting services help committees develop, source, and review RFP responses for due diligence, replacements or first time hires. The FPA team uses its deep industry knowledge to decipher and score responses and translate them into terms committee members can understand. FPA services also include fee negotiations and helping committees make informed and prudent decisions overall. Now with this partnership, FPA is one of the few RFP consultants to offer committees cloud-based eRFP access.

InHub's eRFP platform brings the current and archaic institutional RFP process online. This web-based platform allows users to customize a RFP questionnaire, submit the questionnaire to their chosen candidates, receive and evaluate the proposals, and prudently document the entire process for their auditable files. With eRFP, committee members are also able to centralize communication with respondents, add commentary, and vote online.

"As former institutional investment consultants ourselves, we know first-hand how cumbersome the current RFP process can be," said Ariana Amplo, Co-Founder of InHub. "We have worked tirelessly to create this next generation eRFP and our work is validated by this partnership with Fiduciary Plan Advisors. We are excited to work with FPA to help their clients save time, money, and further their fiduciary missions."

For more information on Fiduciary Plan Advisors' enhanced search services, please visit www.theinhub.com/hightower.

ABOUT FIDUCIARY PLAN ADVISORS

Fiduciary Plan Advisors is a member of HighTower. Securities offered through HighTower Securities, LLC | Member FINRA/SIPC/MSRB | HighTower Advisors, LLC is a SEC registered investment adviser.

ABOUT INHUB

InHub is an innovation firm that helps institutional investors search and hire investment consultants. Located in Chicago, InHub's proprietary eRFP technology guides investment committees through a prudent request for proposal process with greater efficiency. www.theinhub.com

eRFP, the technology behind InHub, is evolving the way the institutional community evaluates by bringing the request for proposal (RFP) process online. eRFP serves as a digital 1 stop shop for all search and hires, and offers the first ever truly modern institutional RFP experience for the industry. Since InHub's beta launch in April 2014, over $6 Billion worth of searches have been issued. As of May 2015, eRFP technology is available to Consultants. www.theinhub.com/eRFP

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