New York Life Retirement Plan Services has reorganized into four industry-focused service teams serving: Taft-Hartley, technology, finance and professional services, and manufacturing, materials and retail. Each of these teams will have its own relationship managers, communications consultants, investment specialists and ERISA consultants.

The overall aim is to offer plan sponsors core industry knowledge and expertise, thereby improving customer service.

“The practice model reorients our perspective to be more in line with that of our sponsors,” said David Castellani, chief executive officer of New York Life Retirement Plan Services. “Rather than just counseling clients on what makes a great plan, we aim to put that consulting in the context of the sponsor’s economic, competitive and business realities. Our service team members will be experts in their core industries and will be able to advise their sponsors on how similar organizations approach retirement.”

Leading the initiative as managing director of client strategy will be Joan Driscoll, who has worked in the industry for 24 years, the last 18 at New York Life. She now reports to Castellani.

“There are different philosophies and challenges among our sponsor base,” Driscoll said. “The conversation we have with a financial services firm reluctant to employ auto features is remarkable different than the one we have with a retail sponsor who struggles with low participation. Our practice models allow our service teams to offer relevant perspective to our sponsors. We believe this model differentiates us in the marketplace.”

Leading the four practice groups and reporting to Driscoll are: James Byrne, director and retirement practice head for Taft-Hartley, Joseph DeStefano, director and retirement practice lead for financial and professional services, Scott Francolini, director and retirement practice lead for manufacturing, materials and retail, and Michelle Morey, director and retirement practice lead for technology.

-- This article first appeared on Money Management Executive.