Noted for a technology-enabled solutions approach
ALM Intelligence has published its independent review of the Retirement Consulting market, covering 20 firms. PwC has again been rated #1 for Client Impact and #1 Depth of Capability. PwC is also rated Best in Class for Strategy.
Raj Mody, Global Head of Retirement Consulting, PwC, said, “We continue to invest in both human and technology capability, and I am delighted that PwC has been recognised again as a leader in retirement consulting. Our own recent survey of multinational approaches to retirement issues confirmed the ongoing challenges companies continue to experience. I’m very proud of the impact my colleagues have in helping organisations of all types and sizes deal with their pension fund and retirement plan challenges. We are always looking to keep ourselves at the forefront of capability and I am very grateful to our clients for their continued trust and loyalty.”
Bhushan Sethi, Joint Global Leader, People and Organisation, PwC, added, “We are delighted to be named leaders in Retirement Consulting. There are so many factors affecting organisations and their workforces that it is more crucial than even to have best-in-class expertise. With changing trends in longevity, career patterns, global mobility and financial markets, any forward-looking organisation needs to have a coherent strategy for their people’s retirement and financial wellness. It is a great testament to Raj and his teams around the world to have been recognised in this way.”
Matthew Merker, author of the ALM Intelligence report notes PwC’s integrated approach to people and technology, “PwC’s technology-enabled solutions approach to the retirement benefits market continues to resonate with clients. The firm is effective in blending people and technology into a strong advisory that streamlines client operations, improves transparency, creates an atmosphere for enhanced agility, and provides real-time metrics on performance that mitigates risk.”
Merker states, “Derived through its analytics platforms and glocal knowledge, PwC provides strong quantitative and qualitative insights for clients contending with increasingly diverse challenges. The firm is effective in establishing baselines of current performance and conveying the impact of transformation on clients’ bottom lines as well as the employee experience.”
On strategy, PwC is noted for, “its strong internal client insight capabilities that continue to adapt and evolve to markets and client demands, PwC is well positioned to provide functional internal strategies that lead to financially sound retirement benefits plans with optimal utilization derived from workforce assessment and engagement.”
On PwC’s cross-functional solutions. Merker adds, “Leveraging its significant breadth of capabilities across multiple service lines, PwC’s approach to retirement benefits covers a wide spectrum of services in tune with the most critical concerns of clients today. Guided through thought leadership on major impacts to the retirement market as well as continued development of technology-enabled solutions, PwC’s advisory in this area provides holistic transformation that reduces risk, streamlines processes, and improves ROI.”
The report notes PwC’s client-facing technology capabilities, “PwC uses technology solutions to reduce burden on clients in management of retirement benefits through improved automation, reporting, and transparency, allowing greater focus on strategic thinking over daily operations. These tools are also valuable from a financial wellness and total rewards perspective and can be scaled to the target goals of clients.”
While on their in-house capabilities, Merker states, “Internally, PwC continues to improve its own technology capabilities to enhance its advisory services. Through the implementation of digital accelerators such as AI, machine learning, and automation, the firm is speeding up its client engagements, reducing costs for clients while maintaining quality.”
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