MassMutual launched a new website, AdvisorAdvantage+, to give retirement plan advisors access to practice management tools and guidance, the firm announced on Thursday.
“MassMutual is an advisor-centric firm, which means we are committed to helping advisors enhance their capabilities and grow their retirement plan business,” Tom Foster, head of strategic relationships for retirement plans for MassMutual, said in a statement. “Our new website offers a broad range of practice management tools to help advisors in all markets, from those who support a handful of small-business retirement plans to specialists who cater to the needs of midsize and larger firms.”
A web-based tool, yourvalueprop.com, helps advisors create value propositions customized for prospective retirement plan sponsors. Planisphere is a prospecting tool to help them identify and market to employers in their area.
“MassMutual’s research finds that many advisors who serve the retirement plans marketplace struggle to succinctly state a value proposition when pitching their services to clients. It’s an opportunity lost,” Foster said. “MassMutual’s yourvalueprop.com tool can help advisors better position themselves for success.”
Planisphere is a search engine that connects to a national database of employers and their retirement plans, and will be available to advisors who are registered to sell MassMutual retirement plans.
Other proprietary tools will also be available through the website, like PlanALYTICS, which provides analyses of plan health and participants’ progress toward their goals; Viability, which determines the economic value of a retirement plan; MapMyBenefits, a financial wellness tool; and BeneClick, a benefits management tool.
AdvisorAdvantage+ also gives advisors access to profiles of successful retirement plan outcomes, MassMutual retirement plan wholesalers, and other resources like a fiduciary calendar and provider fee comparisons.
“The retirement plans marketplace is all about problem-solving,” Foster said. “The most successful advisors are those who look to solve problems first, and MassMutual is stepping up its capabilities to help advisors do their utmost to help retirement plan sponsors and participants succeed.”
— Read Performance Coach Tells Advisors How to Get in the Zone on ThinkAdvisor.