September 18, 2012
--- Retirement plan solutions
provider Ascensus announced expanded efforts to drive results for advisers in
retirement plan servicing.
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The firm’s business development
consultants (BDCs)—part of the company’s strategic partners group—are aligning
with advisers who have a significant portion of their practice working with
defined contribution (DC) plans.
The BDCs customize
support, working directly with advisers within their own
territories, Kathleen
Endres, executive vice president of client service at Ascensus, told PLANADVISER. Combining phone
support and travel, BDCs meet with advisers face to face about a quarter of the
time.
According to Endres, the BDCs can
evaluate an investment lineup, suggest targeted communications from Ascensus
and consider other plan designs. “The BDCs help them design solutions to grow
their businesses organically,” she said. “They look at specific issues with
[the advisers’] clients and help them identify ways to improve those plans and
improve retirement readiness.”
Their resources include the
Fiduciary Benchmark Inc. tools, which they are licensed to use, and offer at no
cost to clients in these relationships. Ascensus also has its own plan reviews,
plan studies, communication pieces and report cards that advisers can use to improve outcomes for the plan
sponsors and participants they service.
“We see a trend toward the
consolidation of plans with retirement-focused advisers who see this as a
critical part of their practice,” Endres said. “We are pleased to offer the
business development consultants to support these advisers—in concert with the
Ascensus regional vice presidents in each territory—from both a sales and
service perspective and partner with them to grow their books of
business.”
Jill Cornfield