In a recent blog, I told you a little about my first career as a professional runner and the coach who paved the way for my second career here at Vanguard. Both careers have allowed me the opportunity to travel the world.

I’ve met lots of wonderful people on the road. Among them are the financial advisors I spoke with at my early events as head of Vanguard Retirement Plan Access™ (VRPA), our resource for full-service defined contribution plans with up to $20-plus million in assets.

Our conversations have provided valuable insight into what you want from a partnership with Vanguard. Here are three key takeaways:

  1. You want help from us to support your practice.
  2. You want promising client referrals.
  3. You want us to sustain your positive client service experiences.

Making great strides

Vanguard is committed to partnering with you and supporting the growth of your business while helping you deliver the highest value to your clients. We’re in the process of strengthening our VRPA offer with the following product and service enhancements:

  • A financial wellness offering for defined contribution plans.
  • Payroll integration, which we hope will continue to simplify plan administration for you and your plan sponsors.
  • Cash balance plans, for which we’re currently exploring options.
  • Revamped Planillustrator reports, which were recently named Plan Health Reports.¹ The rollout is occurring now and through the remainder of the year. You may have read about this in the most recent Vanguard Retirement Plan Access Quarterly newsletter.

Improving client referral strategies and providing more supporting practice management materials are priorities we’ll soon be addressing. And later this year, we’ll share some innovative thought leadership that can help you convey your value proposition.

Meanwhile, I’m excited to share that the average savings rate for VRPA participants was 7.1%, according to How America Saves 2018: Small business edition, Vanguard’s annual report on plan and participant trends. Our research confirms the progress that many of you and your clients are making in preparing employees for retirement. We look forward to helping you maintain the momentum by making impactful decisions based on our client-centric approach and by helping you to act as an advocate for your clients.

I’m also pleased to share about increased client satisfaction expressed by you and your clients. Here are some comments recently shared with our client service teams:

“I trust the service. The Vanguard brand is well known and trusted by my clients.”

“The onboarding teams are excellent. The servicing teams are efficient and knowledgeable.”

We’ll continue to go the extra mile

That’s great to hear. But we must stay on top of needed improvements. We’ll continue to focus on increasing our response speed for client service requests and to mitigate client issues, through proactive account management, for example.

It’s an ongoing effort, but my athletic training taught me a lot about endurance. Rest assured that my team and I are devoted to delivering high value to you and your clients through transparency, flexibility, and ease of doing business. We believe these qualities lay the groundwork for the good story we have to share with you. And our story will continue as we adapt to better support your needs now and down the road.

¹ Plan Health Reports (formerly Planillustrator reports) provide advisors and sponsors with quarterly overviews of the plan’s overall performance.

Note:  All investing is subject to risk, including the possible loss of the money you invest.