For Administrators
Our professionals used to do what you do now. We successfully ran the outsourcing arms of major administration and consulting firms. So, we have insight on how to improve your business operations, client relationships and sales process. Are there gaps in your service offerings? We can fill them through a strategic alliance.
Operational consulting
Operational consulting – Our services can include a deep evaluation of your organization, identification of existing talent, as well as gaps, specifications for effective systems changes, process design, resource plans and much more. We will deliver a comprehensive action plan and assist in executing as much or as little of the plan as you desire. In a full service model, we can assume responsibility for running a unit during a turnaround and, when complete, transitioning the unit in an orderly fashion to the permanent leadership.
New operations consulting – If you are contemplating the development of new capabilities, or acquiring an existing operation for DB, DC or health & welfare administration, we can play an instrumental role that will help lead you to success. If you are acquiring, we can perform your due diligence to determine the positive and negative aspects of the target operation. We will identify the capital and other resources that will be necessary to place the organization in a position for success. If you are developing new start-up capabilities, we can help with the identification of necessary structures, systems, personnel, processes, sales strategies, partners and more.
Strategic sales consulting – We employ – and can teach – the techniques of selling strategically, a disciplined process used by countless successful sales organizations but modified specifically for the retirement services industry. We have used this selling model and process for over a decade within our industry with outstanding results. This technique creates focus, gathers critical information and drives a common sales strategy for a prospect. We will train your sales staff and work with them as needed to apply this process to specific prospects. With the disciplined use of this technique, you can achieve close rates that were previously unthinkable.
Strategic alliances to supplement current services
Instead of bringing in a potential competitor to provide services that your firm doesn’t offer, partner with SBA to provide the services your clients need. We can help your organization provide value-added retirement consulting services for your clients such as actuarial services, strategic consulting services, data cleanup expertise and general issue resolution consulting, while preventing competitors from gaining access to your client base.
We do not provide any type of defined contribution or defined benefit administration or outsourcing. Therefore, our organizations will not have overlapping services and will not compete against each other.
Strategic alliance services may include:
Actuarial services – We provide the full array of actuarial valuation services for pension plans, including analysis and preparation of data, funding requirements, financial accounting standards expense and disclosure, multi-year projections and government reporting. We can support other strategic client projects, including early retirement windows, layoffs, acquisitions, divestitures, union negotiations, plan design changes, surplus asset management and more. We provide benefit calculations for entire populations or for individuals and calculation of benefit splits when both qualified and non-qualified plans exist.
Benefits consulting – We will partner with you to solve specific issues for your clients – from special project support to complete plan design. Projects can encompass both defined benefit and defined contribution plans, including data cleanup, regulatory updates and audits, one-time benefit calculations, due diligence and oversight of acquisitions. When we do plan design, we determine the features of a benefits program that best match your client’s specific corporate objectives for their participant demographics and can then lead the organization through a successful transition.
Communication services – Offering communication services can give you a leg up on the competition. SBA’s available communication deliverables include summary plan descriptions, summary annual reports, account statements, benefit calculations, benefit statements and modelers, enrollment materials, newsletters and Web portals.
Supplemental project resources for implementation or support
Supplemental resources - SBA provides supplemental resources to help third-party administrators tackle special projects or tasks related to implementation and support. SBA can add expertise to your staff for short-term or longer-term projects that are impeded by staffing restrictions. Utilizing SBA resources is a great way to scale your organization without adding head count. We can fill-in for a job position that is temporarily vacant; or, provide additional resources for special projects that consume your staff. Work can be performed in our offices or, if preferred, on-site at your location.