There are many third-party administrators (TPAs) that I know based on working with them or based on reputation. Working with TPAs and word of mouth about them are excellent barometers about their capabilities.
Recently I have heard about a certain new TPA. New in the sense that I never heard of them before and the only reason I’ve heard of them is that they have made a splash on the web and social media. An advisor-client of mine advised me of the problems with the TPA in its ineffectiveness in basic compliance tasks, as well as some strange contractual language as it pertains to terminating the TPA’s services.
I like TPAs that are media and social media savvy, but they have to follow that savviness with competent services,.
