Meet an account manager

Learn about Lincoln account managers and how they work with consultants and advisors to streamline plan administration.

Q: What's the account manager role at Lincoln?

A: Account managers collaborate with consultants, advisors, and internal partners to create solutions that simplify administration and streamline day-to-day operations. They also help plan sponsors meet and comply with regulatory deadlines. Together with the relationship manager, they help develop strategies to meet plan sponsor goals for the year, while creating and managing the project plan to achieve these goals.

Q: How do account managers work with their teams?

A: The account manager is the quarterback, driving the outcome. From an operational perspective, they’re the face of Lincoln to our clients, and they have the support of their internal partners. Lincoln has groups that specialize in compliance, plan design, processing, and data engagement. Account managers leverage these resources on a daily basis to ensure that they provide our plan sponsors with solutions that best meet their needs.

Q: How do account managers interact with the plan sponsor and consultant?

A: It's important for everyone to be on the same page, so account mangers hold quarterly meetings with the consultant or advisor and the relationship manager to make sure everyone has the same vision before meeting monthly with the plan sponsor.

Q: What type of impact can the account manager have with a plan sponsor?

A: A large client was undergoing a merger and acquisition. They were sending 30 separate payroll files, each with different wires, and independently calculating the match. This was a great opportunity to save the plan sponsor money and time. Lincoln merged the files so the plan sponsor could send one file and one wire. We're exploring options to calculate matching contributions for the plan. Before we presented our idea to the plan sponsor, the account manager worked with the consultant to ensure everyone agreed on this approach.

In another instance, a consultant approached us for help with a governmental plan. The client wanted to limit carryover vacation days to reduce cost at the time of employee separation. Talking to the plan sponsor gave us a clearer understanding of the ultimate goal, and we set up a 401(a) plan that allowed continuing discretionary employer contributions. Now the plan sponsor promotes this contribution as an ongoing incentive.

Q: How do account managers maintain great relationships with their clients?

A: Building strong relationships and earning trust is vital. Account managers offer proactive solutions, and are available when people need them.

Q: On what tools do account managers commonly rely?

A: They rely on the knowledge of their internal partners. The entire team helps deliver solutions. They also use project plans and the compliance testing calendar to ensure that all parties are on track.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products and services.