January 4, 2012

N.Y. Life Retirement Plan Services Announces Benchmark Tool

Advisors can gauge satisfaction of clients through new service

New York Life Retirement Plan Services announced Wednesday the availability of a new service powered by Anova Consulting Group, a financial services market research and sales training firm, that it says will help retirement plan advisors assess client satisfaction and measure themselves against peers.

This new service, called Consensus, generates quantitative and qualitative feedback on advisor service delivery, and also permit retirement plan advisors to see just how satisfied their clients are with them and their services. Consensus is also designed to provide segmentation analysis, benchmarking against retirement advisor peers, and identification of at-risk and satisfied clients.

New York Life added that advisors do not need to have retirement plans on the company’s platform in order to participate.

Patrick Murphy, managing director of sales at New York Life Retirement Plan Services, said in a statement, “At New York Life, we prioritize client service excellence and we know that for advisors in this marketplace, close client relationships are the lifeblood of their business. We want to drive better outcomes for our advisors, sponsors and participants–and we see Consensus as a natural complement to our ongoing focus on client satisfaction.”

Rich Schroder, president of Anova, added, “Getting honest insight from your customer base is critical, but hard to do. And that insight is so much more valuable with perspective. Consensus gives sponsors the opportunity to provide feedback in a confidential environment, allowing retirement plan advisors to evaluate their own practice and compare it to their peers and competitors.”

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