401kFiduciaryOptimizer has a hidden tool providing information on average advisory fee based on the plan assets and zip code of the plan the advisor is working on.
It’s called Fee Benchmark and it can be found at the very bottom of the Edit Plan section:
It shows the fees breakdown for different advisors parsed from their recent statements, the source can be viewed, criteria can be changed:
Overall percentage represents nationwide fees, while the local number is for the fees charged locally.
This is just an average number, but can be used for the calculation, to make comparison of two plans (current and proposed) more precise.
If you would like to know more be sure to request your personal demo below: