Strategic competitive benchmarking across Recordkeeping Solutions


A Fortune 100 Financial Services firm offering investment, advice and retirement solution wanted a comprehensive competitor assessment across recordkeeping solutions particularly around participants and plan sponsors experience, and operational capabilities.

Evalueserve's Market & Competitive Intelligence team helped by conducting an in-depth competitor benchmarking study, thereby, identifying competitor’s service offerings and solutions. The client was then provided with key takeaways to highlight the strengths and weaknesses in competitor’s offerings vis-à-vis the clients’ offerings. The integrated competitive landscape view enabled client to compete intelligently and make informed decisions.

The Challenge

Our client needed a comprehensive competitor assessment across recordkeeping solutions around plan sponsor and participant experience. The key challenge was to identify the gaps within the client’s service offerings with respect to its competitors to strengthen client’s positioning in the industry.

The main business need for this benchmarking study was to strengthen its core position and differentiate themselves in the marketplace.

Our Solution

Our team conducted a detailed competitor benchmarking study comprising of a three-step approach to help the client understand its competitors’ offerings to align to its own offerings

  • Step 1: Competitor Analysis – It involved analyzing competitors’ firm on the service offerings around enrollment, engagement, self-directed brokerage window, mobile application, transaction support, payroll, technology and AI, and forward-looking trends
    • The competitor analysis process involved scanning through company websites and mining marketing databases to gather insights on the services offered to plan sponsors and participants for each topic of interest
  • Step 2: Competitor Matrix – The second step involved assimilating all the analysis done in step 1 and creating a detailed matrix to compare the service offerings
    • This process helped the client provide a holistic view of competitor’s core service offerings and their differentiation strategy, thereby evaluating its own offerings and position in the industry
Educational Content
Income Planning Tools
Mobile App Income Projection
Competitor 1
Competitor 2
Competitor 3
Competitor 4
  • Step 3: Key Takeaways – The final step involved identifying the gaps withing the client’s offerings and mapping the opportunity areas
    • Provided the client with a summary of the analysis that helped them better understand the industry trends around plan sponsor and participant experience in each topic on interest

Business Impact

  • The client was able to gain more visibility into competitor’s service offerings and experience
  • The assessment helped the client identify the gaps and differentiators in their services
  • The study was leveraged by the client to act upon to realign their service offerings