Pulse Logic is providing unique and extensive perspectives on sales and distribution, delivering exclusive real-time market intelligence for better business decisions. The source for accurate, timely, and actionable data, Pulse Logic addresses the financial industry's most pressing issues.

 

Pulse Logic Alerts:

Health Savings Accounts

Health Savings Accounts were established as part of the Medicare Prescription Drug, Improvement, and Modernization Act in January of 2004. For the most part, they have been seen as a bank account to cover current medical expenses. However, a growing segment of HSA holders have recognized the clear advantages to using them as part of a comprehensive retirement strategy.

HSAs enjoy the benefits of tax deductible contributions, tax deferred growth and tax free withdrawals when used to pay unreimbursed medical expenses. The definition of medical expenses is far ranging and include medicare supplement insurance premiums. HSA funds are not subject to ERISA and minimum distributions, and are investable. Supplemental catch up contributions begin at age 55. Many experts agree that HSAs are the most efficient way to save for retiree health care expenses.

HSA contributions are limited to participants in High Deductible Health Plans (defined by the IRS as deductibles of $1350 individual, and $2700 family coverage). While this may appear limiting, studies have shown that HDHP participants have grown to over 50% of employees covered by employer provided health plans. This represents an 18% increase in HDHP coverage since 2016. Studies have also shown HDHP participants have the highest health and wealth scores, and subsequent to establishing their HSA, maintained or increased their 401(k) or 403(b) contributions.

Over the next three years, HSA participation is expected to grow from 27% to 43% of eligible workers, covering 66% of 401(k) participants. In addition, 75% of employers now view HSAs as part of their retirement benefits.

Contact Ken Cochrane @ kcochrane@pulse-logic.com

Wednesday, January 17, 2019

Customer Experience:

For the past two and a half years, we have worked closely with LIMRA to develop the drivers and dimensions of good versus bad customer experience. Our first foray was into the life insurance space. Over 20 companies have participated learning where they stand against the competition, their strengths and weaknesses working with the customer and learning where they need to take steps to improve the customer experience. While many companies are still dependent on Net Promoter Score, let's face it, the likelihood that someone will recommend an investment or life insurance product are less than 15%. Meanwhile consumers have demonstrated an 80% chance of recommending a restaurant or movie. Is NPS relevant to the financial services industry?

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Wednesday, June 7, 2018

Wholesaling the product

In a recent series of win/loss interviews on wholesalers, the third theme we heard over and over again was poor product knowledge. This is amazing to hear. A basic fundamental of wholesaling is to know your product, cold.

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Friday, July 18, 2018

Personality Dimensions

Today, many contemporary personality psychologists believe there are five basic dimensions of personality, often referred to as the “Big 5” personality traits. Each of the five personality factors can be measured. Current theory utilizes a range between the two extremes of each attribute. Scoring at either pole is not necessarily a good thing. But having high levels of one specific trait can indicate higher probabilities of business success.

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Wednesday, May 15, 2018

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Pulse Logic Retirement Plan Advisor Study

"The Pulse Logic Plan Advisor Services and Fees Benchmarking Tool provides the most accurate and useful fee ranges, ties advisor provided services directly to the fees advisors charge, and is far and away the most meaningful tool available to plan advisors." – Plan Advisor of the Year Finalist

The Pulse Logic Plan Advisor Service and Fee Benchmarking Tool has changed my business. I've grown my revenue over 25% and aligned my service offerings to improve my competitive positioning. – Plan Advisor of the Year Finalist

"The results of this study provide valuable data and insight to help you, our retirement plan and investment partners, work more successfully with our advisors. - Paul Mahan, Commonwealth Financial Network

Recently completed studies:

2019 Health Savings Accounts: Optics into advisor behaviors, preferences, attitudes and perceptions

2018 K-12 TSA Advisors

2018 Final Expense Life Insurance: Understanding the drivers of your profits

2018 Pulse Logic Advisor Experience: Wholesalers

2018 Pulse Logic TPA Experience: Wholesalers

2018 RIAs: Qualified Plan Services and Fees

2018 RIAs on Product Elements in the $10M to $50M Market

2017 Pulse Logic TPA Service and Fee Study

2017 Pulse Logic Advisor Experience: Wholesaling

2017 Pulse Logic TPA Experience: Wholesalers

2017 Pulse Logic TPA Experience Series: TPAs on Wholesaling

2017 Pulse Logic Advisor Experience Series: Advisors on Wholesaling

2017 Cambridge Investment Research Retirement Plan Advisor Study

2017 Plan Advisor Experience Series: Services and Fees

Learn more

Click here: Learn more about Pulse Logic and how we can help you succeed.

Ken Cochrane interviewed by Chuck Hammond of the 401k Study Group on the significance of customer experience and the retirement plan advisor.

Managing director Ken Cochrane and Chuck Hammond discuss the growing need for advisors to not only monitor the customer experience of the plan service providers, but also the customer experience they are providing.

Click here: The 401k Study Group's Chuck Hammond and Pulse Logic's Ken Cochrane Discuss The Client Experience advisors provide to their plan sponsor client, its importance and why it should be benchmarked.

Ken was also interviewed about Pulse Logic’s ongoing series of studies on the Plan Advisor Experience. In this discussion, Ken focuses on Pulse Logic’s report on the advisor’s perception of wholesaling. Learn more