While most advisers are familiar with the Great-West name, research showed the company had less name recognition among customers and end users. “The clarity of having one brand and one voice with a focused and well-positioned message will help build name recognition and lessen potential confusion among customers,” said Joe Greene, senior vice president and chief marketing officer for Great-West Financial.
The Great-West Retirement Services business segment is unchanged, but will now use the Great-West Financial logo.
Great-West’s Maxim and Orchard Trust company names and the funds offered by them will be changing to be consistent with the new corporate brand. All funds now carry the Great-West name, and no longer reference the names Maxim or Orchard Trust, but the funds and their underlying investments will not be affected. The new fund names will be shown on fourth-quarter statement and will be reflected on the website by late October.
As part of its business plan, the company hired 12 additional 401(k) sales directors and rolled out the first two phases of a customer relationship management system, said Mitchell Graye, president and CEO of Great-West Financial. It also introduced two retail retirement income solutions to help bank financial advisers, independent broker/dealers and registered investment advisers meet this growing customer need.
“By year-end, we’ll launch a retirement income calculator, equip our 401(k) sales team with additional tools to assist advisers and continue to expand our retail retirement income distribution partnerships,” he said.
The company plans to fill up to 100 additional positions in the next 12 months.
More information on Great-West Financial’s new brand identity can be found here.