Retirement and Wealth Consulting Services

Staying ahead with tailored retirement provider services

Our retirement and wealth consultants help clients differentiate themselves in the market by analyzing their existing retirement plan services and products, developing competitive growth, efficiency, technology and operations, modernization strategies, and taking new offerings to the marketplace.

Deloitte Retirement & Wealth Bold Play

The retirement industry is primed for disruption. Consider a Bold Play to transform your business by providing dynamic customer experience while at the same time reducing operating cost. Understanding who you are in the retirement market and what you provide to the retirement market is the first step. Don’t be left behind. Be bold!

Addressing the challenges facing retirement and wealth providers

Retirement and wealth providers face a dramatically changing workplace with a workforce whose expectations are continuously evolving. We help providers address the many growth and competitive challenges they face, including:

  • Finding growth opportunities while improving profitability.
  • Improving sponsor and participant experience and their changing expectations.
  • Improving economics of the business in a fee/margin compression environment.
  • Addressing outdated technology platforms and inefficient operating models.

Our Retirement and Wealth Consulting team features practitioners with deep experience across all facets of a retirement services organization. Their strong breadth of knowledge and problem-solving track record provides clients with a 360-degree perspective on their marketplace and client challenges.

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Learn more about our Retirement and Wealth Consulting Services

Our services help retirement and wealth providers evolve and improve their business strategy, product development, operations, and technology.

  • Business Strategy – Assist with the development of overall strategies responding to the following questions:
    • What are your key differentiating characteristics?
    • Who do you serve well?
    • What markets, partnerships, alliances should you consider for future growth?
    • Where should you be investing?

We also work with retirement and wealth providers to develop a culture that embraces innovation and encourages entrepreneurship, drive tangible innovation results, implement an innovation plan, and embrace change.

  • Customer Experience – Provide guidance on improving current state and creating a future state to maximize customer experience. Leverage market trends, data-driven solutions, and current practices to achieve this goal.
  • Operating Model Design and Implementation – Work with the client from inception to implementation of an operating model that fits their needs and capabilities.
  • Technology and Operations Transformation and Modernization – Develop go-forward strategies, roadmaps, and implementation plans to improve operations and technologies that help retirement services clients meet their needs and address their growth and efficiency imperatives.
  • M&A: Diligence through Integration – Assist with due diligence efforts for retirement services provider-specific deal concerns.
  • Robotics and Cognitive Automation – Provide retirement and wealth management organizations with new solutions to realize short-term operations benefits. These solutions can also be used as a lever in their long-term operations and technology transformation efforts. Specific services include: vendor and process assessment and selection, robotic process automation (RPA) implementation, RPA operate services, and cognitive opportunity assessments.
  • Product Management – Assess current product suites to help organizations develop products and roadmaps that meet the needs of their clients to retain clients and win new business in the retirement and wealth market.

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Take a deeper dive into retirement and wealth provider issues

With fast-paced changes to the workplace environment, complex challenges facing employers, and a greater reliance on technology than ever before, our leading points of view enable retirement and wealth providers to reflect on and learn from what is happening in the market today.

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Loan leakage

Deloitte's analysis finds that more than $2 trillion in potential future account balances will be lost due to loan defaults from 401(k) accounts over the next 10 years, potentially threatening the retirement security of millions of Americans and undermining years of efforts by plan sponsors and providers to keep money in the retirement system. Understand the growing fiduciary risk for plan sponsors.

Read, "How can we keep loan defaults from draining $2 trillion from America’s 401(k) accounts?"

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Consider the Deloitte difference

We help clients stand out from their competitors, by providing

  • Tailored solutions – We do not believe in a one-size-fits-all approach to retirement and wealth provider services.
  • Trusted frameworks – We provide holistic solutions based on tried-and-true frameworks that we tailor the individual needs of our clients.
  • Leading the marketplace experience – Our dedicated Institutional Defined Contribution practice serves 80 percent of retirement service providers in the Fortune 100.
  • Emphasis on customer experience – We advise 19 of 20 top global banks and 11 of the top 20 insurance firms on their customer experience strategies.

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Get in touch

Scott Parker
Deloitte Consutling LLP
+1 612 865 9708
Dan Rosshirt
Deloitte Consulting LLP
+1 917 848 5741
Russ Fernandez
Sr. Manager
Deloitte Consulting LLP
+1 201 400 8222

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