By Paula Aven Gladych
Principal Financial Group outperformed the benchmark in client loyalty in the 2011 Chatham Partners Client Satisfaction Survey of medium-to-large defined benefit and defined contribution plans. Ninety-eight percent of clients said they plan to maintain or increase their relationship with The Principal.
“The top ratings provided by clients of The Principal
are demonstrative of its industry leadership and the consistently excellent service delivered by its client service professionals,” said Joshua Dietch, managing director of Chatham Partners.
Overall satisfaction with the company continues to be strong, with a 97 percent overall satisfaction score. According to the survey, the company exceeded the benchmark in nearly all measures of satisfaction, including excellent reputation as a retirement plan service provider
, reduces its clients administrative burden, overall satisfaction with client service personnel, flexibility in meeting its clients unique needs, keeping clients informed of their fiduciary responsibilities, and defined benefit actuarial consulting skills.
Smaller plans also gave The Principal high scores, receiving a 95 percent or higher score on overall satisfaction with plan sponsor services, overall satisfaction with the client service team, timeliness of answering calls and responding to email communication, and the ability of The Principal to help them meet their fiduciary obligations.
Those clients who transitioned their retirement plans to The Principal also gave high marks.
“We focus on providing the highest level of service for clients of all sizes from day one. We are gratified they continue to rank us so highly,” said Greg Burrows, senior vice president of retirement and investor services at The Principal. “We use this valuable client feedback to enhance our products and services with the ultimate goal of helping plan sponsors, their financial professionals and participants achieve successful long-term retirement outcomes.”
The Principal Financial Group is a global investment management leader, including retirement services, insurance solutions and asset management.
Originally published on BenefitsPro.com