Mike Kane, managing director with Plan Sponsor Consultants, is pretty much the poster boy for effective practice management. Here’s how he does it.
In this short interview from the floor of the GRP Advisor Alliance Conference in San Diego, host John Sullivan from 401k Specialist magazine speaks with Mike Kane, a financial advisor with Plan Sponsor Consultants. The discussion centers around financial wellness and how Kane’s firm has integrated and enhanced these initiatives for clients.
Mike Kane highlights that his firm has been offering financial wellness programs since 2013, well before the concept became a buzzword in the industry. To improve the vetting process of vendors in this space, Kane’s team developed a custom Request for Proposal (RFP). This internal RFP is designed to cut through marketing hype and identify vendors with proven return-on-investment (ROI) studies and measurable outcomes.
On the marketing front, Kane shares that they employ 12 different vendors for digital marketing, a strategy that generates around 100 leads per month. This robust digital outreach is a key driver of their firm’s growth and visibility.
Additionally, Kane explains their emphasis on data-driven outcomes, as they monitor nine different metrics related to retirement plans. These metrics allow them to measure progress and demonstrate tangible success to their clients. When asked how they manage such a complex operation, Kane credits the firm’s internal systems and personnel—especially Eddie George, his daughter—who plays a pivotal role in keeping operations running smoothly.
The interview closes with praise for the collaborative nature of his team and their partners, which Kane attributes as a key factor in their consistent success.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 401(k) Specialist and Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots. Experienced financial services content executive specializing in creative new media delivery. He joined the American Retirement Association in 2023 as Chief Content Officer, overseeing communications for the organization, as well as its sister organizations.
