Strengthening partnerships Part II: Cultivating loyalty with strategic partners

In part I of the strengthening partnerships series, I highlighted that strong trust-based relationships between third-party administrators (TPAs) and their partners are fundamental to delivering high-quality retirement solutions. Once trust has been built, the next step is focusing on ways to create loyalty in those relationships. Below are several strategies for deepening strategic partnerships and reinforcing long-term collaboration.

1. Schedule consistent check-ins
   As with any routine, consistency is key. Even strong relationships require intentional effort to maintain. Without scheduled communication, outreach often falls by the wayside due to competing demands. Establish recurring check-ins and commit to them—consistency reinforces connections. These touchpoints don’t need to be elaborate; sharing a relevant article or referencing a recent conversation can be just as effective.
   For your most valued relationships, consider connecting every 30- to 60 days. A brief email or phone call may be all that’s needed to remain top of mind when new opportunities arise that align with your expertise.
2. Differentiate yourself
   No two TPA firms, financial professionals, or recordkeepers are exactly alike—yet core services often appear similar. Take time to understand and articulate what sets your firm apart. Ask financial professionals how they describe your business to others and use this insight to refine your value proposition. Then, communicate that proposition clearly with key partners.
   Personal touches can also make a lasting impression. Whether it’s a signature accessory, a visible affiliation with a local sports team, or a reputation for winning over clients during final presentations—memorable details can help distinguish you in a crowded field.
3. Acknowledge and address mistakes
   Even the most capable firms occasionally make mistakes. When that happens, transparency and responsiveness are crucial. Consider implementing a service level agreement (SLA) that outlines the protocol for informing strategic partners when issues arise. A good rule of thumb is to initiate contact within 24 to 48 hours—this allows time to assess the situation and determine a path forward before concerns escalate.
   Once a partner has been notified, keep them updated until the issue is fully resolved. Owning the problem and taking proactive steps to correct it can deepen their trust and reinforce your credibility.
4. Set and maintain boundaries
   Establishing boundaries is important—and often difficult. Even in the strongest partnership, there are non-negotiables. If something is off-limits for your firm, stand strong. Strategic partners should not expect you to compromise core policies or principal. Allowing exceptions once can lead to recurring demands and set unrealistic expectations.
   The same applies to availability and responsiveness. If you answer calls at all hours, partners may assume you are always accessible. Protect your team’s time by setting expectations early and clearly. Make sure those expectations are understood and respected. Doing so helps avoid miscommunications and fosters more sustainable and professional dynamics.

Being a good strategic partner hinges on two core principles: communication and consistency. While each partnership is unique, the practices outlined here can help establish a cadence that fosters long-term loyalty and mutual success.

Helping you strengthen partnerships

Contract your TPA distribution director (PDF) or local Principal representative today.