Client Plan Sponsor and Advisor / Consultant Experience Roundtable
September 2021 Virtual Meeting
Trade-off between on-site, live, and convenience – where employees stand?
CURRENT CONTEXT - MEETING OBJECTIVE - AUDIENCE - HOT TOPICS - AGENDA
Current Context
The context in which retirement plan service providers operate in 2021 is dramatically changed, affecting all aspects of our lives - not just retirement plans. The pandemic amplified trends that were already underway
- Ubiquitous use of handheld devices / SMS / apps / in-app notifications/ in-app chat
- Fast decline of in-person meetings / phone calls in favor of the digital client experience
- Effectiveness of email communications becoming marginal
- Immeasurable impact of AI, Robotics, and automated assistants that anticipate our need for communication
The change is so dramatic that we are unable to conceive THE WAY OF THE FUTURE by extrapolating past experience. Technological innovation has expanded the universe of possibilities beyond user expectations. Dreams come true, and drive what the market will demand tomorrow and what some segments already demand today.
- Just-in-time / on-demand communications that users access at the time when they need it, when they want/choose to look at it.
- Virtual is just as important as if not more important than in-person contact the remarkable effectiveness of on-demand digital communication * Discussion of a hybrid HCM and Financial Wellness convention directed to HROs in 2022
In the era of You-tube videos, the meaning of "live" has changed. The change is feeding an unprecedented wave of consolidation of recordkeeping service providers, TPAs, Advisory firms, Broker/Dealer firms, and advisor/consultant teams. In this context, the Annual Meeting of the Client Plan Sponsor and Advisor/Consultant Experience Roundtable is no longer an isolated event; it is part of a public advocacy program that include
- Access to the EACH Enterprise online community and app
- Advocacy on the Website of The 401(k) Listening Post
- 4 surveys of retirement plan sponsors
- Partnership with the Worldwide Employee Benefits Network
- Promotion of the 8-page VIEWPOINT "Now means NOW!" with 4 case studies to illustrate
Fifteen firms are participating in the entire program can register up to three attendees free of charge. You too can benefit by attending the meeting, even if you did not participate in the entire program.
Meeting Objective
Forum for:
- Chief Client Relationship Management Officers
- Heads of Advisor/Consultant Relationship Management
- Senior Management Teams responsible for Account Management
- Heads of Digital Client Experience
Meeting 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.
Join us for a robust dialogue on the emerging retirement plan service landscape at the Client Plan Sponsor and Advisor/Consultant Experience Roundtable. 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.
Audience
Attendance is by invitation only. The invitation is extended to national leaders of client relationship management, advisor/consultant relationship management, strategic account management and digital client experience 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)
- Post Pandemic Business Changes
- Digital Client Experience, Client Support, Virtual Client Meetings, and in-person Client Meetings
- Profitability, fee compression, cost management, and revenue streams
- Impact of consolidation: advisor teams, advisory and broker/dealer firms, TPAs and recordkeeping service providers
- Cybersecurity and fraud mitigation.
- Federal and State Legislation (including SECURE 2.0), regulations, litigation and jurisprudence
- Talent Management
- Attracting personable influencers with a digital mindset
- Skill sets of Account Managers and Relationship Managers of the future
- How to develop Account Managers and relationship managers
- Staffing, capacity, case load / work load, efficiency and automation
- Compensation levers & bonus programs
Agenda
Thursday, September 9, 2021
| 8:30 a.m. | Welcome and Introductions Moderator: Eric Henon |
| 9:00 a.m. | Breakout Sessions |
| Breakout Session 1: Client Relationship Management | |
| Discussion of the 2021 edition of the CRM Sentiment Survey Moderators: Milissa Dumont - Prudential Retirement | Denise Penn - CUNA Mutual |
|
| Breakout Session 2: Account Management | |
| Role of strategic account management and digital communication in contingency / business continuity planning. Will plan sponsor expectations of expanded availability change after the pandemic and why? Moderator: MKay Leydon- EACH Enterprise Special Consultant |
|
| Breakout Session 3: Digital Client Experience Management | |
| User experience of clients with and without an HRIS or HCM system? Moderator: Jason Herman - EACH Enterprise Special Consultant |
|
| 10:15 a.m. | Break |
| 10:45 a.m. | Breakout Sessions |
| Breakout Session 4: Micro / Small (<$20 million) | |
| Moderator: Eric Henon Panelists: Andrew Aubrey CFP® CKP® - Gateway Financial Partners AJ Fiorenza - Summit Group Retirement Planners Derek Fiorenza C(k)P®, CPFA, AIF®, PPC - Summit Group Retirement Planners |
|
| Breakout Session 5: Mid-sized plans ($20 million <$100 million) | |
| Moderator: MKay Leydon Panelists: Michael Paris AIF®, CPFA - Paris International Jim Sotell AIF® - Comperio Retirement Consulting |
|
| Breakout Session 6: Large and Jumbo plans (≥$100 million) | |
| Session Cancelled | |
| 12:15 p.m | Luncheon |
| 1:00 p.m. | Breakout Sessions |
| Breakout Session 7: Client Relationship Management | |
| Capacity models, goal setting, evaluations, compensation, and career path Moderator: Eric Henon |
|
| Breakout Session 8: Account Management | |
| Strategies to propel staff engagement to new levels Action plan to close the gap between the perceptions of account management team members and the commitment of senior management and the entire organization to provide adequate support for the account management function. Moderator: MKay Leydon |
|
| Breakout Session 9: Digital Client Experience Management | |
| Hiring and motivating user experience design staff? Moderator: Jason Herman |
|
| 2:30 p.m. | Break |
| 2:45 p.m. | General Session – National Retirement Practice Leaders Opinions on: |
|
1. Aggregation / consolidations (recordkeepers, advisors, TPAs), and |
|
| 3:45 p.m. | Wrap Up and Next Steps |
| 4:00 p.m. | Meeting Adjourns |
