A Recipe for Success

Ignite, Science of Story June 27, 2017

A Recipe for Success

Julie Anne Dumont
Results-driven professional with expertise in marketing, consultative sales, relationship management, and a commitment to exceptional client service.

Great chefs source the finest ingredients, marry unique flavors, and blend cutting edge techniques with proven cooking methods. The most renowned are never satisfied to rest on their laurels, but rather constantly explore new culinary elements and styles to dazzle discerning patrons. Their expertise, experience, and commitment to excellence combine to create enviable reputations.

The same can be said for the approach that Strategic Retirement Partners (SRP) employs to constantly improve their “secret sauce.” Beginning with a vision of what they wanted their offering to look like when served to clients, the corporate chefs at SRP set about to design a fresh business model.

Opportunity arose for the founding partners when the sale of their prior firm left them without an acceptable solution. Not satisfied to plug into another organization that could have lacked critical resources, or one that dictated how they would conduct business, the Managing Directors chose to form a new entity. Leveraging intellectual capital, professional reputations, evolving technologies, and an unwavering commitment to client service has proven to be a recipe for success.

Strategic Retirement Partners (SRP) was formed only a couple of years ago, but the firm already enjoys recognition as leading retirement plan consultants nationwide.  As the moniker indicates: their approach is strategic, their focus is retirement, and they treat every member of the firm as a true partner. Their mission is simply stated as the desire to help people retire on time with dignity. As Managing Partner Jeff Cullen says, “Our people must reflect that mission.”  When SRP opened their doors, the team managed 345 plans, representing approximately $4.3 billion of assets, across nine offices. Today, SRP has 14 offices nationwide and manages (or advises) on 475 plans with an estimated $7 billion in assets (as of 3/31/17). The measurable growth is attributable to a culture that recognizes that every individual in the firm contributes to the firm’s overall success. Collaboration is at the core of everything that SRP does and the results thus far speak for themselves.

Mr. Cullen says, “We specifically look for collaborative tendencies in our hiring practices.” This principle guides all corporate on boarding, regardless of whether the candidate will be an equity partner, director, or professional staff. The team takes a “Total Retirement” approach to client engagements, capitalizing on the knowledge of subject experts across the firm. This key ingredient in their recipe for success is much simpler to define than to source, particularly since the firm employs a decentralized workforce.

Human capital is the single most important asset at SRP, and they seek experienced individuals who appreciate both the challenges and rewards of working independently and collectively to achieve results. Currently, 16 Managing Directors serve clients across the country, and are supported by 26 professionals, many working from home offices.

While human capital is clearly regarded as the single most important asset at SRP, investment in evolving technology is arguably the second most important priority. Dedication to sourcing, employing or developing the best in industry technologies serves SRP well. Management appreciates that a decentralized workforce needs to be well equipped to effectively communicate with their colleagues and clients, manage processes, and strive to deliver best in class service. Just as the founding partners looked at available platforms to join before forming SRP, they sought to leverage existing technologies while also developing innovative solutions. The prevailing mantra is “If what we need to best serve our clients and grow our business does not exist in the marketplace today… let’s find a way to build it!” You can never accuse the firm’s professionals of accepting the status quo. They realize that their continued success depends on their collective ability to challenge prevailing practices, seek improvements in processes, design creative solutions, and remain informed about factors that impact their industry. They encourage all members of the firm to get involved in legislative and regulatory matters and foster open dialogue around potential changes.

In short, Strategic Retirement Partners wants to be counted among the Top 5 retirement plan consultants in the country. Their unwavering dedication to building an organization where every employee contributes to realizing that goal will undoubtedly prove successful.

SRP’s simple recipe for success:

Start with the best possible ingredients (our people)

Stir in cutting edge ideas and tools

Combine human capital and technology

Season with improvements

Serve fresh solutions, garnished with exceptional client service

Enjoy the sweet results!