According to a press release, MFS is rolling out Advanced (k) in two phases. Phase I consists of two modules:
- benchmarking adviser fees and services: provides resources to educate advisers about fee norms and services; and online fee reporting tool benchmarks adviser fees for specific services based on plan demographics.
- managing strategic client relationships: conducting retirement plan assessments; establishing annual goals and measures; developing annual relationship plans; monitoring progress and gauging client satisfaction; and relationship management training programs.
Each module contains a range of materials including PowerPoint presentations, a guidebook which incorporates value-added tools and deliverables, and numerous practice management resources.
The program will be delivered by the MFS Investment Specialist Group, a team which supports platform wholesalers and retirement advisers who focus on the defined contribution (DC) market, in group and one-on-one settings, as well as conferences and seminars. MFS expects to roll out phase II early in 2010.
MFS partnered with Ann Schleck & Co., a strategic marketing, sales and client service consultant for the retirement industry, to develop and provide Advanced (k).