Hey everyone, I was just wondering what you have found to be the most effective thing to say to businesses when you cold walk them that helps you get an appointment. I am suspecting that we will get some good responses from Jones folks do since they are the cold walk kings. Thanks!
"How would you like to sell all of your investments and buy some new ones from me?"
i have never cold knocked, but i have made plenty of cold calls. if i were to cold knock i would pitch a specific product, bond, mutual fund, unit trust , etc. get to the point quickly and if they are not intrested ask them if it would be okay to call them down the road.
Ask them how the new regulations have affected their business retirement accounts? Has their current advisor sat down with them to discuss the changes and how they need to plan going forward. Ask them what the QDIA in their program is. If they look at you like you just grew another head, ask them what happens to any money that goes into their plan if the participant hasn't told the providor where to invest the money. QDIA stands for Qualified Default Investment Alternatives. Used to be that the money would sit in cash. With the PPA in 2006, that's not a qualified option any longer and they may be out of compliance if they haven't addressed the issue. Try to ask them a question that they can't possibly answer. It gives you a little edge to offer that appt time to discuss their plan and how you can bring them into compliance with all of the changes the PPA made.