PA: How is your
Group: While the investment menu is a critical component of a retirement plan,
we recognize that successful retirement plan management encompasses so much
more, including fiduciary oversight, plan design, fees, vendor management, plan
compliance and retirement-readiness strategies.
We have designed our
client due-diligence reviews and our team-based service model to ensure we help
clients with all aspects of their plan. Each client consulting team is composed
of individuals with subject matter expertise in the various aspects of retirement
plan management, working in a collaborative environment. We believe our team
structure provides a model to address the unique situations of our clients and
the depth of resources to successfully manage the complex issues they face. We
then provide our teams with the leading tools, technology and training to help
our clients navigate the dynamic retirement plan landscape.
PA: Describe any
particularly noteworthy investment initiatives you have led with your customer
base in the past 12 months.
CRG: We concluded
that the design and implementation of a better methodology was needed to
provide plan fiduciaries with a more meaningful way to analyze and monitor
their plan’s target-date funds (TDFs). We focused on developing a unique
proprietary TDF evaluation methodology to compare a plan’s TDFs with its peers’
in a manner that:
- Identifies the
most critical variables in the TDF;
- Groups TDFs with
true “peers” to enable more relevant benchmarking and comparisons; and
- Provides a
disciplined process for selecting and monitoring investments, and documenting
compliance with the Employee Retirement Income Security Act (ERISA) standards
for plan investment fiduciaries.
Our analysis led to
the reclassification of the target-date universe into six peer groups, allowing
plan sponsors to conduct a more meaningful analysis of the TDF they currently
offer in their plan. In bypassing the “to” vs. “through” classifications, we
can more accurately compare a TDF by using a comparable peer group.
PA: Please describe
any special education or communication initiatives you’ve undertaken with plan
sponsors or participants.
CRG: We believe that
analyzing participant demographics and behavior can provide plan sponsors with
the valuable information needed to improve their retirement plans. Data—such as
participation levels, contribution rates and age-appropriate
investing—segmented by categories including age, gender, salary and
title/position help tell a story about a plan’s participants. There is significant
plan sponsor interest in learning more about how participants utilize
In addition to
participant data-mining, surveying employees or conducting focus groups can
provide insight into how the retirement benefit is perceived, how to best
engage participants and the challenges they face in successfully preparing for
After we work with
our clients to analyze the data, they typically take action to improve plan
design, implement best practices driven by behavioral finance principles and
update their employee engagement strategy.
PA: As a retirement
plan adviser, what do you take the most pride in?
CRG: We are most
proud of our industry-leading client satisfaction scores and retention rates.
Annually, we conduct a satisfaction and loyalty study to ensure we are
delivering on the commitment we make to our clients. The survey helps us
understand what our clients value most and identify opportunities for
improvement. The item on which we focus most closely is our clients’ willingness
to recommend Cammack Retirement Group to a peer. This is a leading indicator of
customer loyalty as well as growth, because strong relationships and clients
who are willing to give references are the lifeblood of our business.
BUSINESS AT A GLANCE
Plan assets under
advisement: $43 billion
Median plan size (in
assets): $80 million
Total plans under
in plans served: 475,000