Frequently Asked Questions

ProManage, LLC is an investment management firm that has been in business since 1998 (first as Strategic Financial Concepts, then ProManage, Inc. and ProManage, LLC) and is headquartered in Chicago. ProManage is independent – it does not sell investment products and therefore can provide unbiased investment diversification services. Its associates have, on average, approximately 20 years of experience in the investment, legal and employee benefits design areas. ProManage is a federally registered investment adviser.

The plan health check uses Monte Carlo simulation to estimate potential outcomes, should you implement ProManage’s suggestions. We use Monte Carlo instead of average outcomes because roughly half the outcomes will be worse than average, so Monte Carlo offers a more realistic picture.

ProManage takes on co-fiduciary status, so your responsibility is to exercise prudent care in assessing our services when hiring us, and ongoing to monitor that we are providing our services in accordance with our stated methodologies. Investment performance is not the standard! Doing what we say we will do, is.

Fees are dependent on the design of our services for your participants. They can be covered by the plan sponsor, by participants, or a combination of those approaches. More information about our fees and services is available in our disclosure brochure, the ADV2A, available at the IAPD website.

Yes. An employee can connect their spouses/partner’s accounts just the same as an employee can.

Checking, savings, credit cards, mortgages and some loans can all be connected to BeFine electronically. Users’ employer-provided benefits like health plans and retirement plans like 401(k)s are automatically connected. Currently, retirement plans like IRAs that are outside their employer’s offerings, must be entered and updated manually.

BeFine is customized to reflect the amount of information users add. The more information that is provided, the better BeFine can reflect users’ circumstances.

Nope. ProManage never advertises any other products, including our own. We also do not sell or give any user data to any outside entities.

BeFine can be always accessed on-the-go, that means no download is required. If users are connected to the internet, they can login via the Desktop app or mobile app.

Our periodic reporting provides a wealth of information about how your employees use BeFine. However, individual data entered by participants is not shared with the employer.

Yes. Please reach out to our team and we can help your organization market and roll out the app to your employees.

First and foremost, we love to work with organizations that have a people-first mission. While we don’t have one “right size” organization, we typically work with organizations that have from $15 million to more than $3 billion dollars in their retirement accounts.

We don’t expect you to have all the answers. That’s why we perform a plan health check so your organization can see potential recommendations or outcomes that ProManage can provide. If you’d like to learn more, contact us.

Yes! We customize our approach to your organization’s goals, demographics, and retirement benefits program—including pension plans—so we can target an appropriate level of financial risk for each participant.

The PROgram is designed to help those who don’t feel interested or confident enough to determine their own allocation, so implementing it as an opt-out instead of an opt-in allows us to support more of those disengaged participants.

Yes. We want to help you see the whole picture when it comes to your financial future. A participant can have their spouse’s information included in their PROgram allocation calculation by entering it in Vision.

Depending on the specific investment funds offered in your plan’s lineup, we can use either an active or passive fund in a given asset category. Although, we generally prefer passive funds due to their lower cost.

We offer detailed information on the effectiveness of benefits packages and access to Retirement Readiness Statements to track progress. Learn more on our Insights page.

If we already work with the new record keeper, we can be a seamless part of the transition. If we do not, we will explore with them the best approach for transitioning to their platform. Some of our clients who have changed record keepers have made retaining our service one of the criteria for selecting their new provider.

PROgram participants have the ability to make modifications to their allocations as they see fit. They can do this by using Vision. Since we retain fiduciary responsibility for the outcomes, we put guardrails on the degree to which they can change the allocations that we determine for them.

The PROgram stays with participants even after they retire. That means they can continue investing through the PROgram for as long as they’d like.

There are many types of accounts that can be managed through the PROgram, some examples are 403b, 401k, and 457. If you have a unique situation, we’d be happy to work with you.

ProManage diversifies participants’ account balances across the investment options available in your plan, creating allocations designed to deliver the broad investment market to your participants. We are independent; we do not sell or market our own or anyone else’s investment funds.

They can sign into their plan recordkeeper’s website to see where they stand.

No, we provide immediate suggestions to every participant that is enrolled, regardless of whether they have conducted any modelling or entered additional data.

If Vision is included in a plan, participants can access it for guidance and advice whether or not they are enrolled in the PROgram. It's important to note that if a participant implements Vision’s suggested savings and investment strategy, they will automatically be enrolled in PROgram.

Vision is typically accessed from your intranet platform, via single sign-on from the plan record keeper’s participant website, or through direct connection to Vision’s website.

Outside retirement accounts are always welcomed and help Vision provide a better picture of the future. Users enter this information into Vision manually.

Yes! For younger employees, Vision is all about planning. Employees can track their savings, better plan, and eventually prepare for retirement.

Definitely. The employee can manually input their spouses/partner’s information so, together, they can better track and plan for the future.

We don’t expect you to have all the answers. That’s why we perform a plan health check so your organization can see potential recommendations or outcomes that ProManage can provide. If you’d like to learn more, contact us.

Vision is customized to incorporate your organization’s retirement plan provisions in its modeling. Its calculations also reflect the amount of information users add. The more information that is provided, the better Vision can reflect the user’s circumstances.

They’re customizable. The general approach is to show them their Retirement Readiness based on their current savings and investment elections, and where they could be based on our suggested savings and investment strategy.

Typically, our clients request to receive Plan Health Reports on an annual basis. But, if you’re interested in changing that cadence, feel free to reach out.

Many organizations find Insight’s data to be helpful. You can learn more about it by requesting a plan health check. If you add Insight to your employees’ benefits package, we’ll work with you to identify unique challenges and opportunities—and the design changes you can consider to improve your plan.