401(k) Rollovers

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Jul 20, 2009 6:44 am

What's the best way to look for / capture 401(k) rollover opportunities?  It seems like a lot of people started building a book this way.  How did you do it?



Jul 20, 2009 8:22 am

I have all clients send me at least twice a year a copy of their statements so that I can re-allocate it for them.  This gets them accustomed to me managing their 401k so when they leave it is a natural transition.  It takes a while to build it this way, but it is very effective.

Jul 20, 2009 11:04 am

Here's an idea, Rick.  I'm not sure how old you are so it may not work, but...every year the Federal govt. has a seminar for those who are retiring within the next year or so.  They have them for the different departments so its not one giant seminar for the entire govt., but if you can introduce yourself to the HR dept of one of the offices you may be able to get yourself in front of 50-75 soon-to-be retirees and maybe land a TSP or two from it.  Its a shot in the dark, and if you're in your early-mid 20's you may not resonate well with a room full of 60 year olds, but if you've got some experience it may be worth trying out. 

Jul 20, 2009 4:04 pm

I'm not even an FA yet, but I was thinking about this when I was putting my business plan together for my MSSB interview.

I have over 1,000 executive recruiters in my network on LinkedIn.  Given the fact that they work with people who are changing jobs, I was trying to come up with ways to to partner with them for 401(k) rollover referral business.

Ideas anyone?

Jul 20, 2009 4:26 pm

I have considered something similar, MVA2FA, the problem comes in that they work all of the country.  Get's expensive due to registration.

Jul 20, 2009 4:36 pm

MBA - look for local recruiters. The approach I used was to only work with executive recruiters and technical recruiters. Say you want to be part of their process. When they sit down to interview a potential recruit, you are there to help them rollover their 401k from their old job.

Jul 20, 2009 4:41 pm
Moraen:

MBA - look for local recruiters. The approach I used was to only work with executive recruiters and technical recruiters. Say you want to be part of their process. When they sit down to interview a potential recruit, you are there to help them rollover their 401k from their old job.

 
The other thing you want to help them with is any impact with stock options. It's a serious consideration of people transfering jobs. 
Jul 20, 2009 4:43 pm
voltmoie:
Moraen:

MBA - look for local recruiters. The approach I used was to only work with executive recruiters and technical recruiters. Say you want to be part of their process. When they sit down to interview a potential recruit, you are there to help them rollover their 401k from their old job.



The other thing you want to help them with is any impact with stock options. It's a serious consideration of people transfering jobs.





If their options aren't worthless by now. Anyway, volt has the right of it. Position yourself as an indispensable part of the recruitment process and they (the recruiters) will feel like they could never have done it without you.

Jul 20, 2009 9:46 pm

The problem with many recruiters is they really don't care too much about the people they place.  They care more about the companies they are recruiting for.  Most recruiters I know rarely ever meet the people they place, so I am struggling with how to become and important part of the process.  Maybe I'm just networking with the wrong recruiters.