REGIONAL SERVICES

The PBAS Group continues to diversify, regionally, in the belief that client interests must be understood and addressed at the local level if client needs are to be fulfilled properly. Contrary to popular trends, each of our regional offices has been equipped to dispense the services required within its area.

Our only concessions to centralization apply to standard controls, such as internal accounting and I.S. design – both head-office functions – and actuarial services, which are housed in Winnipeg. Otherwise, services are performed by people who are resident in each region.

TAILORED SERVICE AGREEMENTS

It is imperative, today, with the profusion of services available to benefit-plan sponsors, that the provider and the user have the same, clear understandings of what is to be done. Otherwise, misunderstanding and dissention will occur.

To avoid dissatisfaction, The PBAS Group has fashioned basic service agreements that are adjusted for each particular client. These agreements outline, in detail, the functions to be performed, the manner and the timing of that performance, and the remuneration to be paid, therefore.

A proper service agreement, executed to the satisfaction of both parties, is the ideal reference-point for the resolution of disputes over the extent and delivery of services. Furthermore, it is the perfect launch pad for the client’s development of a service monitoring program.

CONTRACTED FEES

Any good service agreement will devote a section specifically to fees and other charges. All such charges should be guaranteed both in amount and duration, and the provisions for alteration and renewal should be clearly specified. As well, the service provider should declare that any other source of income that may develop (i.e. finders fees, commissions, overrides) will be disclosed immediately and applied to reduce the contracted fees and charges.
Short of enacting those types of controls on the payments for services, users (particularly trustees) may be in serious breach of their fiduciary duties.

CLIENT PROTECTION

Benefit-plan sponsors are subject to an increasing array of laws and regulations, which often exceed their capacities for understanding and compliance. Other duties and responsibilities take precedence. Therefore, The PBAS Group assumes an obligation to inform their clients about legal and regulatory changes that impact their benefit programs, and to guide them through the necessary reactions. As well, we advise against improper and potentially dangerous acts, and emphasize our caution by refusing to be party to such acts.