New York Life Retirement Plan Services Introduces Client Satisfaction Benchmarking Tool for Retirement Plan Advisors

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." 

About Anova Consulting Group, LLC

Established in 2005, Anova Consulting Group provides customized market research, sales training and consulting services to leading firms in the financial services and human capital management markets.  By helping its clients understand why they win, lose and retain business, Anova Consulting Group provides strategic perspectives to its clients, driving better decision-making, product development, sales effectiveness, client service, and continuous improvement. For more information, please visit: http://www.theanovagroup.com

About New York Life Retirement Plan Services

New York Life Retirement Plan Services offers bundled retirement plan solutions and defined contribution investment only products throughout the United States. New York Life Retirement Plan Services, a division of New York Life Investments, administers $35 billion in bundled retirement plans as of September 30, 2011. With offices in Westwood, Massachusetts, Parsippany, New Jersey, and San Francisco, New York Life Retirement Plan Services is widely recognized for its leadership within the retirement plan industry.

About New York Life Investments

New York Life Investments ranks among the largest asset management firms in the United States(1). Through its multiple boutique management structure, New York Life Investments offers access to leading institutional managers that drive performance. Through MainStay Investments and NYLIFE Distributors LLC, New York Life Investments provides access to some of the most highly regarded mutual funds and wrap accounts in the industry. Together with its affiliates and over 1,400 employees, New York Life Investments manages over $297.5 billion in assets as of September 30, 2011. New York Life Investments is a leading provider of retirement plans for corporations, multi-employer trusts, and individuals.

"New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

New York Life Insurance Company, New York, New York

(1) Source: Pensions & Investments, May 31, 2011

SOURCE New York Life Retirement Plan Services