Robert reviews his company’s strategic roadmap to identify ways to reduce the costs and complexities of running the retirement plan business to focus on
growth and enhancing the client experience.
Robert schedules a Professional Services assessment of all his operations and processes. The consultant identifies specific gaps within the back office and lays out a plan to address the issues and optimize performance.
After the assessment with Midwest's retirement partner, Robert decides to outsource the daily recordkeeping and compliance oversight functions as a starting point to reduce costs and streamline operations.
The assessment also identifies a solution that helps Midwest automate the year-end data collection process, simplifying and expediting the practice to save the company time and resources.
Robert implements a plan communications reporting suite that provides an enhanced client experience, and helps his firm reduce costs, meet legal and regulatory requirements and streamline business operations.