RJ20 New Services Success
Participant Outcomes Dramatically Improved
We hope the first quarter of 2013 is off to a great start! We wanted to share a ground-breaking new service we have been testing since late 2012, that can help you make the rest of 2013 a resounding success in documenting the ability to help plan participants meet their future retirement needs/goals. So what's the big news and grand idea?
RJ20 now has the ability to deliver our robust participant advice to ALL
plan participants, when our service is first rolled out! What better way to introduce your service than deliver to every participant their own customized report, documenting their state of retirement readiness and how they can seamlessly make a few changes to bolster their chances to meet their future goals. (Just like TV infomercials, "Wait! There's more!)
Since we just provided reports for all participants upfront, we have all the data to slice and dice of the state of retirement readiness of participants. We customize this data into an executive summary report for the plan sponsor and advisors working with the plan. This report helps to quantify how much the plan sponsor has improved the participants' expected retirement, consequently enhancing their fiduciary obligation of helping participants plan for a better retirement. (Infomercial deep dramatic voice now asks, "Now, how much would you expect to pay? But wait, there's more!")
What happens if a participant gets to think about how their other accounts, spousal retirement accounts, pensions, expenses or any and all considerations important to them factor into their planning? They still have the ability to customize their reports and include these items. What about if they have questions about their report results or how to customize them? Our Certified Financial Planners are still available to help them get their answers and provide a wealth management-like experience. (Final booming question, "Now how much would you pay?")
Our pricing is still the same and didn't go up. This truly is a new service enhancement and not an excuse to bump fees on existing and prospective clients. In fact, we can even lower our fee with volume discounts. So in this era of plan designers trying to find a way to help all plan participants, AND
document the improved outcomes, RJ20 removes any credible excuses for why participants can't receive this help. So if fiduciaries must act in the best interest of their clients, AND
they have knowledge of a solution that can help their clients that is tangible and documents its value, and the fee handily passes the "reasonable" test, do they violate their fiduciary duty by ignoring it? This may become the next wave of tort cases just as the industry experienced with target date funds.
What Kind of Results Are We Talking About?
So does this sound like it may be a little too good to be true and/or a case of the flare for the dramatic? We will let you be the judge. The following are a couple plans (the names and identifying information have obviously been left off to protect client confidentiality) to serve as our examples. If you would like a copy of one of our executive summary reports explaining the participant results, then please click the Like
button below for RJ20's page on Facebook and we will email you a copy.
Our service shows the difference between where a participant is today, and where they could be if they acted on our advice. It can also measure the actions participants took as a direct result of our advice. The following are some of the results we have seen so far:
Average Participant Outcome Improvement
Let us hear from you and what you think about being able to actually help participants improve their real numbers such as:
Get Started Today!
Average Plan Balance by 40%
Projected Retirement Income by 43%
Projected Retirement Savings by 46%
Income Goal Probability by 200%
"Now", is never a good time. Everyone needs more time, yet we all still only get the same number of hours in the day. Let your participants have a shot at realizing their financial future goals. The longer decision makers wait for whatever the excuse is: Obamacare, sequestration, cutbacks, etc., all the more reason participants need help! There are no legitimate excuses when plan assets are ready to pay for this service which most likely rests in the single digits of basis points of plan assets. If not now, then when.
This is our challenge to you and our undying passion to deliver the most robust advice, the most reasonable fee in the market, and dramatically enhance the average worker's financial future. Discover how RJ20 and you, together, can make this difference for the plan participants, plan sponsors and their fiduciary obligations.
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