Life Cycle of a Group Retirement Plan

Lesson 1: Prospecting a Group Retirement Plan

1. Stages in the Life Cycle of a CAP from the CAP Provider’s Perspective
2. CAP Provider Services and Support Functions for CAPs
3. CAP Management
4. Prospecting
5. Differences Between the Group Retirement Plan Sales Model and Other Sales Models
6. Role of an Advisor in the Prospecting Stage
7. Role of the CAP Provider in the Prospecting Stage
8. Marketing a CAP
9. Reasons a Plan Sponsor Might Want to Market a CAP
10. Alternative Methods of Marketing of a CAP
11. Role of the Request for Proposal (RFP) in Marketing a CAP
12. Key Steps in Marketing a CAP
13. Information Typically Included in an RFP
14. Preparing an RFP

Total pages in this lesson: 14 pages

Lesson 2: Quoting/Proposing and Selling a Group Retirement Plan

1. Quoting/Proposing and Selling
2. Role of the CAP Provider in Quoting/Proposing and Selling
3. CAP Provider-Required Documentation
4. Letter of Appointment
5. Factors That Influence a CAP Provider’s Decision to Accept or Decline an RFP
6. Components of a CAP Provider’s Response to an RFP
7. RFP Response
8. Factors That Impact the Pricing of a CAP
9. Customization of CAP Provider Products/Services
10. Factors That Impact the Degree of Customization a CAP Provider Will Offer
11. Impact the CAP Guidelines Have on the CAP Provider’s Response to an RFP
12. Standards Used by the Plan Sponsor and/or Advisor to Analyze a CAP Provider’s Response to an RFP
13. Finalist Presentation
14. Key Topics That are Reviewed and Discussed During an Effective Finalist Presentation
15. Additional Questions
16. Benefits of a Team Approach in the Finalist Presentation
17. Factors in a Finalist Presentation That Tend to Influence the Prospective CAP Client’s Choice of CAP Provider

Total pages in this lesson: 17 pages

Lesson 3: Implementing, Servicing and Terminating a Group Retirement Plan

1. Implementation
2. Implementation Tasks After the Sale of a CAP Account
3. Steps Involved in Managing a Successful Plan Implementation
4. Definition and Importance of the Master Application
5. Key Requirements for a Successful CAP Implementation
6. Responsibility for Performing the Initial Enrollment of Employees in a CAP
7. Enrolling Employees in a CAP
8. Servicing/Educating
9. Responsibilities and Activities Involved in Servicing/Educating
10. Key Contacts Involved in Servicing a CAP Account
11. Role of a Relationship Manager
12. Role of an Education Specialist
13. Role of an Investment Executive
14. Role of a Service Representative
15. Plan Termination
16. Reasons the CAP Provider May Elect to Resign from a CAP Account
17. How a CAP Provider Terminates Its Relationship with a CAP Sponsor
18. A Change of CAP Provider on a CAP Account

Total pages in this lesson: 17 pages

Lesson 4: Ethical Decision Making

1. Business Ethics
2. Characteristics of Ethical Problems
3. Questions To Address Ethical Situations
4. Business Ethics Resources Related to Group Retirement Plans
5. Impact of Privacy Legislation for CAP Providers
6. Canadian Life and Health Insurance Association (CLHIA)
7. CLHIA Code of Ethics
8. CLHIA Impact on Group Retirement Plans
9. Privacy Legislation in Canada
10. Core Elements of a Code of Conduct
11. Ethical Issues for a Retirement Plan Sponsor
12. Ethical Issues for a Group Retirement Plan Member
13. Ethical Issues for an Agent or Broker/Consultant
14. Ethical Issues for an Account Executive
15. Ethical Issues for a Relationship Manager
16. Ethical Issues for a CAP Provider’s Education Specialist

Total pages in this lesson: 16 pages