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New York Life Introduces Benchmarking Tool

NYL Introduces Benchmarking Tool

WESTWOOD, Mass., Jan. 4, 2012 / PRNewswire / — New York Life Retirement Plan Services, a leading provider of retirement solutions to U.S. corporations and unions, is pleased to announce the availability of “Consensus,” a service powered by Anova Consulting Group LLC, a financial services market research and sales training firm, that will help top retirement plan advisors assess client satisfaction and measure themselves against peers.

This new service will allow top retirement plan advisors to evaluate current client satisfaction levels and generate quantitative and qualitative feedback on advisor service delivery. It also will provide segmentation analysis, benchmarking against retirement advisor peers, and identification of at-risk and satisfied clients. Advisors do not need to have retirement plans on New York Life’s platform in order to participate.

“At New York Life, we prioritize client service excellence and we know that for advisors in this marketplace, close client relationships are the lifeblood of their business,” said Patrick Murphy, managing director of sales at New York Life Retirement Plan Services. “We want to drive better outcomes for our advisors, sponsors and participants – and we see Consensus as a natural complement to our ongoing focus on client satisfaction.”

“Getting honest insight from your customer base is critical, but hard to do,” said Rich Schroder, president of Anova Consulting Group. “And that insight is so much more valuable with perspective. Consensus gives sponsors the opportunity to provide feedback in a confidential environment, allowing retirement plan advisors to evaluate their own practice and compare it to their peers and competitors.”