With Great Conversations, financial advisers can walk plan sponsors through five critical tracks for plan evaluation: Strategic Plan Review, Investments, Communications, Fiduciary, and Services, according to a press release.
With each track, the financial adviser follows a three-step process:
- Discovery – The financial adviser shares focused defined contribution plan research and gathers information about the client’s needs and goals.
- Research & Analysis – The financial adviser presents customized “benchmarking’ results and discusses action items with the plan sponsor.
- Solutions – The financial adviser works with the plan sponsor to implement a set of solutions for improving the plan.
Throughout the process, AllianceBernstein provides consulting support and customized materials for the financial adviser to use with the plan sponsor, allowing the adviser to focus on the client, instead of the preparation.
The firm conducted several research studies with plan sponsors and plan participants to uncover their needs, and the findings of that research serve as the foundation for Great Conversations, the announcement said. For example, during the Discovery and Research & Analysis phases, financial advisors can share relevant defined contribution research with plan sponsors so they can benchmark their plans against the industry.
The program was built for financial advisers with varying needs and business models, serving both advisers who regularly work with retirement plans, and those who occasionally dabble in the defined contribution space. Further, AllianceBernstein has a dedicated group of Retirement Consultants who are training financial advisers on how to incorporate Great Conversations into their practices.
For more information, visit www.alliancebernstein.com.