Dump insurance products, sure up your business with a strong mid market DC business, high end DB consulting,wealth management and most importantly get out of the GIC business and focus on becoming a real fund company and trustee of institutional assets in a trust you actually maintain follow the State Street model.
Get rid of any VP or above who does not have pure retirement administration, sales service and or marketing background, especially if they came from the insurance side, Many not qualified are running this business today!
Hire more people, change service model, force external consultants from the picture by offering full investment management from within the organization
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