New Study From MassMutual Explores Noteworthy Factors For Successful Retirement Advisor

MassMutual's Retirement Services Division has published a new white paper entitled "The Successful Retirement Advisor Part II Best Practices and Key Drivers of Success." The paper indicates factors that help make retirement advisors successful and the correlation between advisor success

By None

MassMutual’s Retirement Services Division has published a new white paper entitled “The Successful Retirement Advisor Part II: Best Practices and Key Drivers of Success.” The paper indicates factors that help make retirement advisors successful and the correlation between advisor success and plan sponsor satisfaction.

It’s the second book from series ‘The Successful Retirement Advisor’. Second study, from the advisor’s perspective, helps advisors understand the characteristics, attributes and best practices that contribute to a plan sponsor’s satisfaction and to an advisor’s success in retaining satisfied clients and earning new retirement plan business.

For “The Successful Retirement Advisor Part II,” MassMutual commissioned Brightwork Partners to survey 250 advisors representing a diverse cross-section of financial services distribution channels – including fee-based and commission-based advisors. Overall, the surveyed group serves more than 8,700 plans with a total asset value of nearly $24 billion.

“Our findings indicate that the most successful retirement advisors have four common characteristics . . . focus, preparedness, proactive strategic planning and consistent relationship management,” says Hugh O’Toole, senior vice president and head of national distribution and client relationship management, MassMutual’s Retirement Services Division.

“One noteworthy factor is that the successful retirement advisor participates in face-to-face sponsor visits at least three times per year and averages at least two calls per sponsor per month.”

L.D.

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