SPRINGFIELD, Mass., April 29 /PRNewswire/ -- MassMutual Retirement Services today announced a number of enhancements to make it as easy as possible for advisors and TPAs to capture and retain retirement plans with up to $5 million in assets.
According to Eric Wietsma, senior vice president and head of investments and product development for MassMutual's Retirement Services Division, the company has implemented product, pricing and process improvements designed to accomplish several important goals for advisors and TPAs in the $5 million and under market (fully bundled and TPA service models).
- Make the product easy to understand and explain to prospects to enable a more efficient sales process
- Offer straightforward and flexible pricing up front with a "quick quote" system based on a simple, three-step process for faster turnaround
- Banded pricing enables pricing reductions as plan grows
"Our goal is to make it as easy as possible for advisors and TPAs to be successful and profitable in the under $5 million market," says Hugh O'Toole, senior vice president and head of sales and client management for MassMutual's Retirement Services Division. "Our streamlined sales process and product design make it easier to explain and quote more plans in less time, allowing for more sales opportunities, better plan retention and the opportunity for more profitable growth."
MassMutual's enhanced product for the $5 million and under market offers a broad selection of group annuity and registered mutual fund investment options for 401(k) and 403(b) plans including stable value and multiple target date options from a variety of fund families on MassMutual's Smart Architecture(SM) investment platform. Investments are backed by MassMutual's fiduciary warranty. Valued-added services include MassMutual's RetireSmart(SM) participant education tools such as RetireSmart(SM) Academy and automated participant education campaigns among others.
MassMutual has developed a suite of materials to assist retirement plan advisors and TPAs in presenting the product to plan sponsors and supporting them on an ongoing basis. For more information, please contact your MassMutual sales representative or call MassMutual at 1-866-444-2601,
www.massmutual.com/retire.