The NASPP Blog

If you’re a public company with stock plans, it’s highly likely that you have a relationship with a broker to execute stock plan transactions. It may be a captive relationship (the broker services all of your employees), or perhaps you have relationships with multiple brokers to satisfy the needs of a varied employee population. Whether you have one or several brokers engaged in your stock plans, in today’s blog I offer up some tips on transforming your broker partnership(s) into an “epic” one(s).

The Awesomeness of Epic

Okay, so I borrowed the term “epic” from our recent NASPP webcast, “Making Your Broker Relationship into an Epic Partnership.” You have to admit, though, it sounds pretty cool to use the word “epic.” Coming from an era where “rad” was the go-to phrase, I’m still getting used to epic. Ah, I’ve digressed. Back to the topic at hand. If you’ve been in the stock plan world for a while, chances are you’ve been around many, many broker relationships. I think brokers as a whole do a great job executing stock plan transactions. Most of the brokers who service stock plans that have got the associated transactions down to a science. What I want to focus on today are the other things that can take your relationship with your broker to a whole another level.

Remember the Importance of a One-on-One Interaction

In the recent webcast, the panel shared UBS participant survey results that pointed to a higher level of participant satisfaction with the education provided by their company when that education included one-on-one conversations. That concept, while not new, really struck me. I think it’s because we live in a world dominated by so many forms of electronic communication options – mobile, video, email, text, and so on. It can be easy to forget the value of a one-on-one conversation with someone. As a stock plan administrator, it would be a huge challenge to find time to have these types of conversations with all stock plan participants. This is where the broker relationship can take center stage. Most, if not all, of the brokers in this industry are skilled in participant education and communication. Knowing that participants value conversation, elevate your plan to the next level by leveraging your broker to help with those educational moments.

Other Areas to Consider

Busy stock plan administrators need all the help they can get. There are several areas where brokers are typically willing and able to help their issuer clients, some of them not as well known. These areas include taking some of the responsibility for communicating with the transfer agent, analyzing the impact (or potential impact) of the company’s stock plan on the market, and completing 144 paperwork. The list goes on.

A good manager has learned the art of leverage – tapping into other resources beyond themselves in order to do the best job possible. The broker relationship is the ultimate example of a leveraged one – the stock plan administrator leans on the broker to do what they do best – execute stock plan transactions and help educate employees. Isn’t it great to learn there are even more ways to leverage the broker partnership? Why not sit down with your broker today to learn more about how they can further help you elevate your plan? By the way, “elevate” is a catch word I got from the webcast and it’s stuck with me. It’s time to take things to the next level.

Other Resources

I’ve already mentioned the NASPP webcast on this topic, available to all NASPP members. If you’re not an NASPP member or are a time challenged member, you can check out the shorter podcast episode on the same topic “Creating an Epic Broker Partnership with Brian Burke (TD Ameritrade).”

-Jenn