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Dec. 18, 2013 /PRNewswire/ -- In
Boston Research Group's2013 Defined Contribution Plan (DCP) Retirement Advisor Satisfaction and Loyalty Study, satisfaction with MassMutual among retirement plan advisors continues to be very strong and among the best of all providers.
MassMutual is above the industry average in 20 of the 22 categories measured in the study, with "brand" and "thought leadership" leading the way. The MassMutual brand continues to be a strength in the eyes of advisors. The company's score for "brand is valued by plan participants and plan sponsors" is 11 points above the industry average. MassMutual's score for "A thought leader in the 401(k) industry" is 17 points above the industry average, an area where MassMutual continues to excel across the industry.
"We believe we are the most innovative provider in the industry," says
Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman of MassMutual International LLC. "MassMutual has been striving to change the conversation from one of merely saving to one of reaching sufficient income replacement. This has been a key focus for us and we have the tools and resources to help advisors demonstrate this concept simply to sponsors and participants."
MassMutual garnered very high scores in "value added" services including "helps participants to reach retirement readiness" (20 points above industry average), "provides useful benchmarks to measure plan health" (21 points above industry average) and "partners with you (advisor) for success" (11 points above industry average), all measures that support the company's efforts around participant replacement income in retirement.
Scores for MassMutual's wholesalers, the largest driver of satisfaction for retirement plan advisors, reflect MassMutual's deep bench strength in this regard. MassMutual's score for "wholesaler expertise in the retirement industry" is 13 points above the industry average and the score for "wholesaler accessibility/availability/responsiveness" is 12 points above average. MassMutual is also doing a nice job in delivering content to advisors, scoring 13 points above the industry average for "quality of marketing materials."