401k plan marketing

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Dec 6, 2012 9:30 pm


Im starting to market to small businesses in my area to try and get there companies 401k plans to manage. Obviously you dont make much just managing the plan the key is to get infront of the guys that are near retirement. Anyone have any pointers for this market?

Dec 29, 2012 3:50 pm

Read and know the K regulations - cold including all components of ERISA and know the subtleties of DB and DC plans because they are normally more attractive to senior execs, partner with a non selling TPA, learn the features and benefits of the platforms you want to use. Do this BEFORE you get in the door with them. Fall on your face on a 401k and you're done. They won't see you again to manage their personal money. Recognize that it is a 2 - 3 year sales cycle and that the payout is usually half of retail.