PLANADVISER - March/April 2018 - 39

PLANSPONSOR
RETIREMENT
PLAN ADVISER MEGA TEAM
OF THE YEAR FINALISTS
MRP
Sentinel Pension Advisers
" MANY people in our industry
continue to say that employee
engagement
hasn't
worked,
BUSINESS AT A GLANCE
PLAN ASSETS UNDER ADVISEMENT:
$5.2 billion
MEDIAN PLAN SIZE, IN ASSETS:
$26.5 million
PLANS UNDER ADMINISTRATION: 218
PARTICIPANTS: 64,000
and I completely disagree with
that assessment, " says Chad
Larsen, president and CEO of
MRP, headquartered in Denver.
Still, he admits that traditional
methods have not always been
successful, noting that last
year, his " retirement engagement team held more than
4,000 one-on-one meetings with employees of the advisory
firm's clients. " I'm convinced that most people won't
engage in their plan unless you give them very specific and
meaningful reasons to do so, " he says. " [For that reason,]
we work hard to innovate and make our meetings not only
relevant, but also fun for the employees. "
Additionally, instead of just checking off fiduciary boxes,
the team focuses on communicating with plan sponsors
about what items are most effective for helping participants
meet their retirement needs. " I honestly believe that
someone can be a great 'fiduciary' but a horrible 'steward'
of his employees' money, " Larsen says.
MRP was founded in 2005 by Larsen and one, still
current, employee and has been built completely through
organic growth. " We haven't purchased any plans or books
of business over the years, but we've hired people who
are passionate about this business and love to service our
clients, " he says. When anyone comes to interview at MRP,
Larsen asks him, " Why do you want to be in the retirement
business? " This, he says, has produced a team of people
who are driven and determined to make a difference with
both plan sponsors and participants. All 22 of those team
members are part of a new mission for 2018: to have each
engaged in two major initiatives for growth and profitability
with weekly deliverables. -ACM
SENTINEL Pension Advisers is a
registered investment adviser
(RIA) under the Sentinel Benefits
& Financial Group umbrella,
and being part of that larger
firm allows its advisers to take
what it calls a holistic, consultative
approach to plan designs
and employee benefits. From
its offices in Wakefield, Massachusetts,
it employs not only retirement plan specialist
advisers, but an Employee Retirement Income Security Act
(ERISA) consulting team that includes on-staff ERISA attorneys,
an investment management team to oversee all of
the recommendations advisers make to their clients, and a
team of financial planners to execute on the group's Health
& Wealth model and deliver one-on-one meetings.
The firm's emphasis on one-on-ones recognizes that,
BUSINESS AT A GLANCE
PLAN ASSETS UNDER ADVISEMENT:
$4.5 billion
MEDIAN PLAN SIZE, IN ASSETS:
$4.1 million
PLANS UNDER ADMINISTRATION: 436
PARTICIPANTS: >45,000
for many people, much of their financial well-being is
generated in the workplace. That is why a major challenge
Sentinel is trying to address is workers' need for financial
confidence and wellness. Firm advisers have been tackling
what Sentinel refers to as an industry " blind spot " : Many
people are so focused on solving their immediate financial
needs and stresses that they might not have the energy or
resolve to look 20 to 50 years down the road-and determine
the best way to get there. For this reason, Sentinel offers
its clients and plan participants access to its free online
Health & Wealth Hub, which offers financial education and
literacy tools. The team also leverages Financial Finesse and
Total Wealth, powered by eMoney. Lastly, financial wellness
education has been integrated into the curriculum for Sentinel's
wealth counselors who meet with plan participants.
The firm recently introduced its Sentinel Safeguards
cybersecurity microsite, providing tools, lessons and best
practices to keep plan sponsors and participants safe. -ACM
planadviser.com march-april 2018 | 39
http://www.planadviser.com
PLANADVISER - March/April 2018

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