Mainspring Partner

Fall 2009

The Standard Enhances Plan Installation Experience for New Clients

The Standard recently completed a top-to-bottom review and revamp of its process for welcoming new clients and ensuring successful plan installations. Our installation team will expand its hands-on approach to providing personalized service and generating positive client experiences. In addition, the new process requires substantially less paperwork thanks to streamlined submission forms.

Plan installations remain customizable to include different levels of partner/broker involvement, depending on the desired advisory role.

Dedicated Installation Team

The Standard works closely with clients to quickly and efficiently establish their new retirement plan. At the beginning of the process, we introduce all the members of our installation team and explain each person's role. This team includes:

Client service consultant — ensures overall client satisfaction. Focuses on the plan's goals and objectives and delivers value-added services to help meet those objectives, including plan reviews, assistance in managing fiduciary duties, plan consulting, and helping create an enrollment and education strategy.

New business account manager — leads the client through service setup and ensures plan installation is smooth and efficient. Assists with documents, forms and required communications; coordinates with prior providers and custodians; and monitors all activities in the plan's establishment.

Data specialist — provides direct support to the client and payroll vendor for submitting plan deposits.

Account manager — after implementation, assumes the lead role in ensuring the plan runs smoothly. Monitors all aspects of the plan and serves as the client's liaison and advocate.

The Standard handles most of the tasks related to the installation, from initial preparation to conversion (when applicable) and service release. For the few specific items that must be addressed by the client, such as generating and distributing required notices, we provide step-by-step guidance and support.

Our team is also in close contact with you and the client, providing weekly updates on our progress and communicating important information to partners, plan sponsors and participants.

Welcome To New Clients

An integral part of the process is our new Welcome Guide (PDF; 573 KB) that helps clients prepare for a successful plan transition by providing action items and an overview of critical tasks during the three phases of implementation. We also have created new "Welcome" emails from our client service consultants, and have updated our documents and processes to help clients during the transition.

At the end of the process, this client-focused approach results in a seamless plan installation and lays the groundwork for a long and successful partnership.