I have been in the biz 9 years....4 1/2 as a bank and wirehouse broker....the other 4 1/2 at Fidelity where I worked in rollover space.
My expereince has tought me that most advisors are good at rolling the smaller company 401k plans.....but dont do nearly as well when targeting the fortune 500 companies...(Where they run into Fidelity, Vanguard etc)....
I am considering setting up CD based seminars where I cover the following topics. What do you guys think? If you could pick the brain of someone who saw the rollover world from an insider's point of view....what would you like to know?
Here’s some of what I am planning on covering----
Learn why 401k recordkeepers and NOT other
advisors are your biggest competitors in the rollover space.
Learn How no-load recordkeepers sell their
services and play keep away from other firms (They retain as high as 80% of
assets when clients leave)
Advanced rollover strategies you will NEVER
learn from your back office or wholesalers
Discover how rollovers are processed. Many
advisors are completely in the dark here. If you have ever told a client “Call
your company to get the rollover paperwork” you are screwing up royally. We
will show you why.
Special tax treatments you must know cold
Strategies on working with clients pre-59 ½.
Learn several ways clients can access 401k money before 59 ½ WITHOUT rule 72T.
Learn how you can rollover 401k assets from
clients who have not left their company yet. We will teach you who you can
target and why.
The single most powerful question you can ask a
prospect to encourage them to seek financial advice. I tested this over 1000
Discover the 2 sales which must be made before
Learn what information you should be tracking
from companies in your area. You need to know pitfalls of the major employers
in your area. We will teach you need to track to boost your rollover sales.
3 minute rollovers – Learn how to process some
rollovers in as little as 3 minutes so the check can be processed ASAP.
The 5 biggest mistakes I have seen advisors make
that have cost dearly.
Learn which products work the best in the
rollover space (Hint: Variable Annuities don’t get NEAR the market share your
friendly wholesaler tries to convince you of) The no-load recordkeepers will
tear them to shreds.
How call-centers are set up at the no-load
recordkeepers. Find out what they do and why its so important you know.
Advanced strategies on highlighting the
weaknesses of a prospects 401k plan.
Why “Special tax notices” are used to stall the
rollover process. Learn where to find the document to prevent your clients from
having to wait to receive their money.
Learn our special asset allocation strategy
which cannot be employed inside 99.9% of 401k plans available today.
This is not a sales pitch.....I am trying to test the demand for this before its rolled out....feedback, etc...