Working Smart!

One of our partners shared that he was helping a new advisor understand the value of using 401k Safe in his marketing efforts to gain new fee based clients. First he told him that if he called a hundred prospects marketing fee based planning he would most likely get one new client, he then went on to explain that he would easily triple that number leading with 401kSafe.

First, employers with in excess of a hundred employees usually have an in house CFO that is dealing with a 401k annual plan audit. The CFO already has an appreciation of the administrative burdens and it’s not a difficult conversation to bring him up to speed on the fiduciary liabilities they face as plan sponsors. (See CFO Magazine link on partner portal). In many cases CFO’s are open to a new solution that solves both the administrative and fiduciary challenges of maintaining a 401(k) plan.

Once a plan is sold the advisor will begin to develop a relationship while reviewing plan options as well as understanding the details of ownership and affiliated entities in completing the adoption agreement. The 401kSafe on boarding process sets the stage for developing a deeper relationship with high net worth clients.

Innovation makes the world go round!!