Offering tools to support financial advisors who serve retirement plansAdvisorAdvantage+ and yourvalueprop.com designed to help advisors
sharpen their capabilities to serve retirement plan sponsors and participants
SPRINGFIELD, Mass., Aug. 24, 2017 – Massachusetts Mutual Life Insurance Co. (MassMutual), a leading provider of retirement savings plans, is launching a new website and tools to help financial advisors sharpen their capabilities to support retirement plan sponsors and participants.
MassMutual has introduced AdvisorAdvantage+, a practice management website dedicated to advisors who support retirement plans, and yourvalueprop.com, a web-based tool to help advisors create a value proposition to differentiate themselves in the marketplace.
Advisors can also access Planisphere, a new web-based prospecting tool created by Larkspur Data Resources to market their capabilities to local employers.
A broad range of tools
“MassMutual is an advisor-centric firm, which means we are committed to helping advisors enhance their capabilities and grow their retirement plan business,” said Tom Foster, head of strategic relationships for retirement plans for MassMutual. “Our new website offers a broad range of practice management tools to help advisors in all markets, from those who support a handful of small-business retirement plans to specialists who cater to the needs of midsize and larger firms.”
AdvisorAdvantage+ is home to MassMutual’s comprehensive set of practice management tools and guidance, including the yourvalueprop.com tool, the Planisphere prospecting database and search engine, and insights into what plan sponsors want most from advisors. In addition, advisors can access MassMutual’s proprietary tools and resources to obtain fiduciary support, gauge the health of retirement plans and whether participants are on target to reach their retirement goals (PlanALYTICSSM), ascertain the economic value of retirement plans (ViabilitySM), and promote financial wellness (MapMyBenefitsSM) and benefits management (BeneClick!SM).
Advisors can also find profiles of successful retirement plan outcomes, consult with a MassMutual retirement plan wholesaler, or get practice management tips from blogs on massmutualatwork.com. Other available resources include a fiduciary calendar, a comparison of plan provider fees, and information about the MassMutual Funds.
The yourvalueprop.com tool enables advisors to create customized value propositions to introduce themselves to retirement plan prospects and differentiate their services and capabilities. The value propositions can be customized to address specific plan sponsor needs and allows advisors to upload their photo and company logo.
As part of effectively articulating their value, advisors can highlight their capabilities related to needs analysis for retirement plans, investments, employee education, fiduciary oversight, plan provider due diligence, prescriptive solutions, and their mission. According to Foster, advisors can also include other pertinent information that may help to differentiate them from the competition.
A Stated Value Proposition
“MassMutual’s research finds that many advisors who serve the retirement plans marketplace struggle to succinctly state a value proposition when pitching their services to clients. It’s an opportunity lost,” Foster said. “MassMutual’s yourvalueprop.com tool can help advisors better position themselves for success.”
Before introducing themselves to new prospects, advisors need to target employers with retirement plans that are need of improvement, Foster said. Planisphere can help advisors identify employers that may benefit from their retirement plan services and guidance, he said.
The tool is a powerful search engine that connects to a national database with easy-to-access information and analytical capabilities about employers and their retirement plans. Advisors will need to be registered to sell MassMutual retirement plans to access the tool.
In addition to its enhanced online capabilities, MassMutual continues to support advisors with a nationwide network of more than 80 wholesalers, as well as its team of 100 relationship managers and 80 retirement education specialists.
“The retirement plans marketplace is all about problem-solving,” Foster said. “The most successful advisors are those who look to solve problems first and MassMutual is stepping up its capabilities to help advisors do their utmost to help retirement plan sponsors and participants succeed.”
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.