A 17-year industry veteran, Graves comes to CUNA Mutual Group Retirement Plan Solutions, a provider of qualified and nonqualified retirement plan solutions, after 14 years at ING, where he spent the last seven as vice president of national business development. In his new role, Graves takes on leadership of all key account responsibilities within the company’s top defined contribution investment only (DCIO) fund family partnerships and broker/dealer relationships nationwide.
“As we continue our intermediary distribution growth plans, Chris is a perfect example of the commitment we have in hiring the industry’s top talent to better serve our broker/dealer and DCIO partners,” said Paul Chong, senior vice president, CUNA Mutual Group Retirement Plan Solutions. “Chris has a tremendous reputation for his focus, dedication and expertise in the retirement plan industry.”
Prior to his business development role, Graves served as a retirement plan wholesaler for ING, and led a field service team. Graves holds FINRA Series 6 and 63 designations, along with life and health insurance licenses. He is a graduate of Miami University in Ohio.
Graves began his duties at the start of September and reports to Chris Phillips, director of institutional sales for CUNA Mutual Retirement Solutions.
By using this site you agree to our network wide Privacy Policy.
Ranging over a number of factors that impact branding and differentiation, panelists at the 2014 PANC in Orlando, Florida, discussed what builds a retirement plan adviser's brand.
How best to develop a brand owes a huge amount to the
pioneers of this business, who created brands where none existed, said Charlie Ruffel,
founder and director of Asset International. The role of retirement specialist
adviser has grown in a remarkably short amount of time, and created an extraordinary
momentum for the industry. “The role retirement partners
play is well understood,” Ruffel said, “and has changed our whole industry so
much for the better.”
A live poll showed the vast majority of the audience (88%) at PANC said they specialize in
retirement plans and use them as the core of their value proposition. Most
(92%) said their value proposition includes services outside the three Fs
(fees, funds and fiduciaries), and most (82%) said they believe their value
proposition is unique, compared to their competitors, with the most consistent
answer (54%) pointing to the firm’s service model as the thing that most sets it apart from the competition. Other factors included pricing, investment
research capability and fiduciary services.
“I do think brand matters, because it really is the outcome
of the collective actions of what we do as a firm,” said Rick Shoff, managing
director of CAPTRUST Financial Advisors. “What we do is our brand. It can have
an impact on people that will influence other people—and it doesn't always
happen when we are in the room.”
“It’s extremely important to differentiate yourself,” said
Randy Long, founder and managing principal of SageView Advisory Group. “In smaller
firms you are the brand. It’s the
service model and the value you bring to individual clients.”
Being independent and conflict-free are still important, but
they are the price of admission, Shoff said. “It’s harder to get in the game
nowadays. Not every ticket gets you in the same seat. Plan sponsors definitely
value not only that we are specialists, but that we have a proven and
sustainable business, and we’ve been doing this for a long time.”
Shoff noted that reputation becomes even more important since
the hiring process is now generally conducted through requests for proposals (RFPs). “Being
able to demonstrate depth and stability really matters,” he said. “We get to
the finals 82% of the time, and we win 60%—and a lot of that has to do with how
the plan sponsors now view us.”
Bill Chetney, a panelist and CEO of Global Retirement
Partners, said it wasn’t so long ago that plan sponsors asked if they even needed an
adviser. That has certainly changed, and he feels the marketplace has fully
embraced the need for an adviser and consultant. “But in order to
differentiate yourself and position yourself, you definitely need to have an
area of specialization,” he said. Simply being a retirement specialist is not
enough. Specialization in 403(b) plans or 457 plans, or specializing in a
particular region or city where the adviser has a number of other clients is
necessary, Chetney said, “or some other connection that draws you together.”
The brand of the individual is just as important as the brand
of a firm, according to Chetney. “People buy from the person in front of them,”
he said.
Most important is the connection you forge with the committee
or the folks you are presenting to, Long said. “A brand will get you in the
door, but at the end of the day it’s you as an individual and your team that
will get the sale.”
Shoff noted that the firm’s growth strategy involves finding
and keeping clients, but just as important, he said, is recruiting other
advisers and doing acquisitions—and brand plays a key role. “I think brand is
more important when it comes to recruiting and keeping or winning advisers,” he
said, noting that recruiting and acquiring a firm can be a tough decision. “I
feel like the brand halo effect is more important than it is at the client
level,” he said.
Chetney’s elevator speech to prospective advisers highlights the firm’s interest in
independent-minded advisers and a brand that enables greater sales success.
Shoff asks what makes them want to join CAPTRUST, and he uses the average growth
in sales (19%) for firms that join as a selling point. Long said firms that
want to grow their practice will be interested in SageView.
These days, the focus today is really more about your
business, not your practice, according to Ruffel. The net result is what we see
hear today,” he said. “In some ways, the difference between having a brand and
having a practice is ambition,” he said. “It’s easier to run a practice when
the winds are behind you.”