This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MassMutual's Retirement Plan Sales Momentum Continues Post-Acquisition

SPRINGFIELD, Mass., March 20, 2013 /PRNewswire/ -- After a record-breaking year in 2012, the Retirement Services Division of Massachusetts Mutual Life Insurance Company ( MassMutual) is enjoying a strong start to 2013 following the company's recent acquisition of The Hartford's retirement plans business. Through February, MassMutual's retirement plan sales results are ahead of plan by 25%.

While 71% of the overall sales pipeline is with large broker-dealer firms, independent firms are gaining share quickly. "We are seeing excellent activity across the full spectrum of plan sizes, territories and markets," says Hugh O'Toole, senior vice president and head of sales and client management for MassMutual's Retirement Services Division. "It's clear that confidence in MassMutual is high, stemming from our reputation for delivering world-class service and the company's financial stability. We are committed to helping the members of our combined sales force, as well as their advisors and TPAs, to hit the ground running. The results and the feedback are extremely positive," he adds.

Significantly, MassMutual's proposal activity in the emerging markets (under $5 million in assets under management) is its strongest ever, with 80% of new plans coming through third-party administrators (TPAs). Month-over-month proposal activity in February increased over January, with March off to an even better start. 

According to Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman, president and CEO of MassMutual International LLC, MassMutual's momentum is also reinforced by strong advisor, TPA and sponsor satisfaction levels and a desire among all constituents for a provider with a long-term commitment to the retirement plan market. "MassMutual has been around for 161 years and in the retirement plan business for more than 65 years. With all the volatility in the financial industry, we hear again and again that people trust MassMutual to be here when they need us," adds Sarsynski. "We believe our mutual structure and focus on delivering consistent value for the long term are good reasons for customers to feel confident."

"In 2012, MassMutual's Retirement Services Division achieved record results on virtually every metric. I am delighted to say that 2013 is shaping up to be another great year for MassMutual and all of our new employees and customers," says Sarsynski.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,093.59 +69.53 0.39%
S&P 500 2,117.02 +8.73 0.41%
NASDAQ 5,025.2060 +19.8150 0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs