SPRINGFIELD, Mass., June 5 /PRNewswire/ -- According to both retirement plan clients and advisors, the Retirement Services Division of MassMutual Financial Group continues to meet or exceed their expectations throughout the plan installation process.
The data is derived from MassMutual's recently completed new client implementation satisfaction survey. The proprietary survey, conducted by Chatham Partners, included in-depth telephone interviews pertaining to 74 post-implementation situations for new MassMutual clients, representing nearly $1 billion in assets and 30,000 participants.
MassMutual earned very favorable results from its customers in the three primary drivers of client satisfaction with the implementation process. Questions were rated on a 7-point scale in which "7" represents the highest score of "very satisfied" and "1" represents "very dissatisfied." The following percentages of MassMutual clients rated the company a "6" or "7" in each of the following important categories: 80% for overall management of the transition; 84% for timeliness of the transition process; and 85% for overall satisfaction with the transition manager.
"I actually would rank my overall satisfaction with the installation process as a 10," states Jim Hardison, vice president of human resources for Indiana Packers Corporation, Delphi, Ind., with retirement plan assets of nearly $20 million and more than 1,400 participants. "I have probably done five or six conversions over my 30 years in the business, and MassMutual, by far and away, has done the best one. The personal attention has been above and beyond the call of duty."
"Our clients consistently pointed out the frequency and quality of MassMutual's communication during the conversion process as a top strength," states Marie Augsberger, senior vice president and chief operations officer for MassMutual's Retirement Services Division. "Communication, delivered by knowledgeable, experienced people, is the foundation of MassMutual's overall commitment to exceptional service and proactive support of advisors and customers," she adds.
"The plan installation service team at MassMutual is second to none," states John Cate, first vice president and financial advisor, Morgan Stanley, Indianapolis, Ind. "MassMutual delivered a customer service experience that inspired trust and confidence. It's the level of service every financial advisor hopes for from a retirement services provider."
"We're very proud of our plan conversion process," adds Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman, president and CEO of MassMutual International LLC. "It's even more meaningful to have MassMutual's plan advisors and clients validate the quality of our plan installation process and our transition team," she adds.MassMutual's Retirement Services Division has been serving retirement plans for more than 60 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately one million participants.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. MassMutual and its subsidiaries have more than $500 billion in assets under management at year-end 2007. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries. Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org); MassMutual International LLC; and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.
Morgan Stanley's Global Wealth Management Group (GWMG), one of the largest businesses of its kind in the world with over $700 billion in client assets, provides a range of wealth management products and services to individuals, businesses and institutions. These include brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 33 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Chatham Partners is a market research and consulting firm specializing in assisting clients in maximizing the value of past, current and future customer and intermediary seller relationships through customer satisfaction , win/loss, and intermediary analysis. Chatham Partners, Inc. was founded in 1991 and is based in Waltham, Massachusetts. For additional information, please call Joshua Dietch, Managing Director of Chatham Partners, at
781-314-0600 or visit www.chathamllc.com.