Commonwealth Financial Network, Waltham, Mass., and 401(k) Producer Services recently agreed to an institutional partnership, providing Commonwealth advisers with access to leading-edge retirement plan consulting tools and resources. 401(k) Producer Services is a firm dedicated to helping retirement plan advisers enhance the revenue and profitability of their businesses.
“We partnered with 401(k) Producer Services to bring a high-quality service platform to our retirement producers,” said Timothy Nihill, Commonwealth’s manager of retirement. “What this firm offers will allow our advisers to move upstream in the marketplace, as well as allow them to spend more face time with current and prospective clients.”
To better service plan sponsors and their employees, advisers will have access to a multitude of retirement consulting tools, technology, and resources. These include fiduciary and plan compliance materials, independent investment analysis, marketing and sales support, fee benchmarking services, consulting services support, administrative checklists and support staff forms, employee communication materials, and practice management assistance.
“Commonwealth has done an outstanding job of identifying and supporting exceptionally cost-effective solutions that can help grow an adviser’s retirement plan consulting revenue and profitability,” said Nick Della Vedova, president of 401(k) Producer Services. “Both our organizations share a common vision of delivering solutions that result in an ongoing successful retirement plan experience for the plan sponsor customers and their employees who are served by Commonwealth’s advisers.”
Advisers using the support provided by 401(k) Producer Services bring an independent retirement consultant approach to service corporate clientele and to manage fiduciary responsibilities. The firm’s support will also promote successful retirement plan management and growth strategies.