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T. Rowe Price Unveils New Automated Sales Tool for Plan Advisors


BALTIMORE, MD, September 27, 2016 -- T. Rowe Price Retirement Plan Services, Inc. announced today the launch of the Essential Choice sales tool, a Web-based application that allows retirement plan advisors to create pricing proposals for the T. Rowe Price Essential Choice retirement plan solution in real time. This mobile-enabled tool will help advisors sell Essential Choice to small businesses faster and simplifies the sales process for busy plan sponsors looking for straightforward plan features.

"We recognize the time advisors spend with a prospective client is valuable and are committed to helping them deliver retirement plan solutions effectively," explains Diana Awed, head of Product & Marketing for T. Rowe Price Retirement Plan Services, Inc. "With less time spent on the administrative work involved in creating proposals, advisors have more capacity to focus their attention on growing their business and finding the right solutions for plan sponsors and ultimately their plan participants."

Michael Shamburger, head of Territory Sales, adds, "Imagine as an advisor, that you could walk out of a prospective client's office and using your smartphone, have a proposal link delivered to their email box before you've even left the building. That can be a powerful and differentiating customer experience for prospects. That's what the Essential Choice sales tool will allow you to do."

Key capabilities of the essential choice sales tools include:

  • Proposal Generation: Create customized proposals based on simple variable inputs and a fixed pricing model
  • Analytics and Reporting: View sponsor report open rates and time spent on content, as well as consolidated conversion reporting

What Is the Essential Choice Retirement Plan Solution?

Essential Choice is a prepackaged retirement plan solution ideally suited for small businesses with up to $5 million in assets. The product includes an experienced plan services team, life stage participant education on preparing for retirement readiness, flexible investment options, and fixed pricing.

The Essential Choice sales tool is one of several new products, including the MarketScene® app, the SmartDollar offering, and additionalFinancial Wellness solutions, that T. Rowe Price has recently launched to help sponsors and advisors managing retirement plans of all sizes.

About T. Rowe Price Retirement Plan Services

T. Rowe Price Retirement Plan Services, Inc. has been a retirement solutions provider for more than 30 years and currently serves nearly 1.9 million retirement plan participants across more than 3,500 plans. Retirement-related assets represent 69% of the firm's total assets under management.

About T. Rowe Price

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $776.6 billion in assets under management as of June 30, 2016. The organization provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. For more information, visit Twitter, YouTube, LinkedIn, or Facebook.


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