Allianz Global Investors recently announced a new initiative, the PlanSuccess Recordkeeper Evaluation Program, that grades DC record keepers on their ability to upgrade plan design based on best practices gleaned from behavioral finance.
Allianz is undertaking the initiative on behalf of advisors due to the success of the Center's earlier PlanSuccess Certified Behavioral Finance Analyst (CBFA) program started by Allianz’s Center for Behavioral Finance. That program has educated over 500 advisors on how to perform behavioral audits of DC plans and helps them make recommendations to plan sponsors for improvement.
The evaluation even helps record keepers prioritize the hundreds of tech projects on their radar at any given moment. "The idea is to assess all 401(k) record keepers," says Allianz’s Glenn Dial. "It's a multi-month process to assess each record keeper. No one's at 100% right now."
For more on advisor value-adds from Allianz, visit their NAPA Partner Corner page here.
