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Client Relationship Management Roundtable November 2019

CURRENT CONTEXT - MEETING OBJECTIVE- AUDIENCE - DATE TIME AND LOCATION - DRESS CODE
SENTIMENT SURVEY - HOT TOPICS - AGENDA -  PRE-EVENT - HOTEL - COST - REGISTER

CURRENT CONTEXT

Increasingly, Client Relationship Managers in 2019/2020 are charged with managing the Business Risk / Price couple for their assigned clients. Client profitability is now analyzed in the light the business risk to which the client exposes their retirement plan service provider.

The concept of “at risk” client has evolved to include

1. Retention risk (Decision maker turnover risk – including C-Suite, Advisor/Consultant, and key influencer turnover)
2. Plan design risk.  (Plan designs that require exception processes present operational risks and the possibility of service breakdowns)
3. Data practices risk (exposing the firm to cybersecurity incidents, potential fraud, social engineering, and moral hazard)
4. Investment risk (investment array decisions – including QDIA, custom target date / asset allocation funds, and conflicts of interest)
5. Plan Health / Retirement Readiness risk (participant outcomes – current and projected)

Service providers approach their business differently and adapt service models to offer plan clients more or less.

These same providers, find the new breed of consultative client relationship manager entering the work force does not necesssarily aspire to a long career in the position.  The critical role calls for balancing the push for strong strategic thinking, revenue generation and profitability, with the external client pull for deep understanding of their industries and individual needs, and strong technical knowledge and tactical execution.

Join us for a robust dialogue on the emerging retirement plan service landscape at the semi-annual meeting of the Client Relationship Management Roundtable.  All major retirement plan recordkeepers attend regularly.  Insights will be broken up based on your interests (Hot Topics), and by asset-size, providing focused, relevant dialogue on how to thrive and differentiate amid the changes.

MEETING OBJECTIVE

Forum for Chief Client Relationship Management Officers of retirement plan firms to discuss emerging industry trends, major challenges and opportunities, current and upcoming governmental regulations and other topics of interest to attendees. Informal discussions are organized around topics suggested in the registration process.　There are no minutes of this meeting.

Two 90-minute timeslots for breakout discussion sessions moderated by attendees:

• By Hot Topic: 
• By Size Band (3 segments)

AUDIENCE

Attendance is by invitation only. The invitation is extended to heads of client relationship management of retirement plan service providers operating in the following markets:

• Corporate, government, Taft-Hartley and not-for-profit markets
• Large and jumbo plans
• Micro, small and mid-sized plans
• Across distribution channels (consultant, adviser, brokerage, TPA, bank, direct, agent and others)

DATE, TIME, AND LOCATION

November 5, 2019

7:00p.m. -  Pre-event Networking Dinner

Metro Bis
The Ensign House (new  location!)
690 Hopmeadow Street
Simsbury, CT 06070 

November 6, 2019

8:00 a.m. - Breakfast

8:30 a.m. to 3:30 p.m. – Sessions

Venue

VOYA Financial
One Orange Way
Windsor, CT 06095

DRESS CODE

Casual Dress for pre-event
Business Casual Dress Code for meetings

CLIENT RELATIONSHIP MANAGEMENT SENTIMENT SURVEY

At the November 2019 meeting, attendees will discuss results of a Client Relationship Management Sentiment Survey measuring attitudes of heads of client relationship management across recordkeeping firms (attendees and non-attendees), identifying emerging key issues.  Survey consisting in part of open-end questions, report our read, insights and most-striking take-aways, identifying best and aspirational practices in client relationship management.  The survey will be designed with input from a steering committee of Roundtable members and co-presented by a member of the Steering Committee.

HOT TOPICS

This preliminary list of hot topics will be supplemented with requests collected in the Sentiment Survey

• Relationship Management segmentation and organizational structure
• Service models for bundled and unbundled products – role, responsibilities, deliverables, and case load of relationship managers
• Plan profitability and requests for participant education meetings
• Accompanying growing clients through service delivery models
• Behavior of plan decision makers / committee members by generation (M, Z, Y, X)
• Talent Development - Learning & development opportunities for presentation delivery and consultative "selling" in the RM role.
• Anticipated technology needs to advance relationship manager performance in the near future
• Relationship Manager support tools in development
• Data integration and aggregation (payroll, health and financial wellness, advisor platforms, Envestnet / Castle Rock Innovations)
• Payroll data integration best practices - efficiencies.
• Participant wants
• impact of new and pending legislation / regulations on the retirement plans business

AGENDA

Wednesday, November 6, 2019

8:00 a.m.     Continental breakfast buffet

8:30 a.m.     Welcome and Introduction – Amy Vaillancourt - VOYA Financial

9:00 a.m.    Client Relationship Management Sentiment - Insights, Take-aways, and Apirations - A Presentation and Discussion

      Co-presenters: Member of the steering committee to be annouced
                                 Eric Henon - EACH Enterprise

10:15 a.m.   Break

10:45 a.m.   Moderated breakout sessions – Timely hot topics decided two weeks prior to the meeting based on suggestions from the Sentiment Survey 

• Group 1 - Timely Hot Topic #1
• Group 2 - Timely Hot Topic #2

12:00 p.m.   Buffet Luncheon

12:30 p.m.   Moderated breakout sessions – Advisor / Consultant Strategies

At these sessions, we will discuss the impact of payroll integration on the relationship between plan sponsor, advisor/consultant and service provider while reducing risk and fiduciary liability and the burden of administration, improving data integrity and enriching the participant experience.

• Micro / Small (<$20 million) 
• Mid-sized plans ($20 million -<$100 million) 
• Large and Jumbo plans (≥$100 million)

2:00 p.m.     Break

2:15 p.m.     General Session – Planning for the Relationship Management Talent Gap

The modern client relationship manager thinks and acts like a business owner, serving as the linchpin in the increasingly complex relationship between the plan sponsor, advisor/consultant and service provider.  With fierce competition within the industry, Boomer retirements fast approaching, and increased job mobility, service providers are finding it more and more difficult to plan for what may be a significant relationship manager talent shortage in the very near future.  How deep is your relationship manager bench?  At these sessions, we will explore strategies to identify, attract, cultivate and retain a new breed of consultative client relationship manager needed to succeed in the 21st century retirement industry.

3:15 p.m.     Wrap Up and Next Steps

3:30 p.m.     Meeting adjourns

EVENT NETWORKING DINNER

METRO BIS 
The Ensign House (new  location!)
690 Hopmeadow Street
Simsbury, CT 06070 

HOTEL / TRANSPORTATION

The recommended hotel for this event is the 

HARTFORD/WINDSOR MARRIOTT AIRPORT
28 Day Hill Road
Windsor, CT 06095

Transporation provided to the meeting site and to the pre-event restaurant

Hyatt, Hilton Garden Inn, and Sheraton hotels are also available nearby.

REGISTER

Register On-line

*Registration requires an invitation code

Request Invitation Code

COST

Cancellation policy:

EACH Enterprise, LLC will refund your entire meeting fee if you cancel on or before June 30, 2019.  For cancellations between July 1, 2019 and September 30, 2019, EACH Enterprise, LLC will refund your registration fee minus an administration fee of $175.  No refunds for cancellations after September 30, 2019.  In the unlikely event that the number of registered attendees falls short of expectations, EACH Enterprise, LLC will refund the entire registration fee.