This case study explores how a leading retirement recordkeeper uncovered a hidden driver of churn among its most loyal clients. Despite historically strong retention rates above 90%, churn analysis revealed that long-tenured and high-value clients were leaving due to uncompetitive fees. As shown on page 3, fees as a churn reason increased by 68% year-over-year, with the largest and longest-tenured clients most affected. Customers expressed frustration that pricing was not proactively adjusted as their plans grew. In response, the company developed an internal algorithm to identify at-risk clients and implemented proactive fee reviews. For businesses, this demonstrates the importance of continuous value alignment and proactive engagement, showing that even satisfied customers may churn if p

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