Springfield-based MassMutual Retirement Services has enhanced its services to make it easier for advisors and third party administrators (TPAs) to capture and retain retirement plans with up to $5 million in assets.

According to Eric Wietsma, senior vice president and head of investments and product development for MassMutual’s Retirement Services Division, the company has implemented product, pricing and process improvements designed to help advisors and TPAs in the $5 million and under market (fully bundled and TPA service models).

The plan is intended to make the product easy to understand and explain to prospects to enable a more efficient sales process, offer straightforward and flexible pricing up front with a "quick quote" system based on a simple, three-step process for faster turnaround and banded pricing to enable pricing reductions as plan grows, according to a statement.

"Our goal is to make it as easy as possible for advisors and TPAs to be successful and profitable in the under $5 million market," said Hugh O’Toole, senior vice president and head of sales and client management for MassMutual’s Retirement Services Division. "Our streamlined sales process and product design make it easier to explain and quote more plans in less time, allowing for more sales opportunities, better plan retention and the opportunity for more profitable growth."