New York Life Retirement Plan Services, a division of New York Life Investments, has launched a new client-satisfaction benchmarking tool for retirement plan advisors, the company announced Wednesday.
The new service, called Consensus, will allow “retirement plan advisors to evaluate current client satisfaction levels and generate quantitative and qualitative feedback on advisor service delivery,” the company said in its press release.
The service also will provide segmentation analysis, benchmarking against retirement advisor peers, and identification of at-risk and satisfied clients, the company said. “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,” said Patrick Murphy, managing director of sales at New York Life Retirement Plan Services, in the release.
The new service is powered by Anova Consulting Group LLC, a financial services market research and sales training firm.
New York Life Retirement Plan Services administers $35 billion in bundled retirement plans. It has offices in Westwood, Mass., Parsipanny, N.J., and San Francisco.
Margarida Correia writes for Bank Investment Consultant.