How to Build a 401k Prospect Pipeline Process ERISA is all about process, and what a better way to manage an ERISA prospect than through a consistent, systematic, 401k prospect pipeline process. There are many ways you might get a new 401k prospect, such as from your website, a seminar or networking event, cold calling, referrals, or content marketing. Once you have a lead, you should implement a process that provides a professional experience demonstrating your value, and that nurtures and converts them from a prospect to a new plan client. Prospect Management Best Practices Before we ..read more

Resource Review – PscNet (A Plan Design Comparison Tool) Looking for an easy-to-use retirement plan design and proposal solution? I recently spoke with Marco Brown, creator of PscNet about a software program that allows advisors to create proposals comparing several types of qualified plans, (including Age Weighted, New Comparability, and Cash Balance Plans). You can watch the video interview below and the text transcript follows. NOTE: 2 Minutes, 22 Seconds starts the screencap walkthrough of the platform… VIDEO TRANSCRIPT: Sharon: Hey everyone, Sharon here, founder of 401kbestpractices.com ..read more

Resource Review – The Retirement Analysis Kit (TRAK) Looking for a way to add tremendous value to the participants in the plans you serve? A tool that engages participants and helps move the needle on retirement readiness? I recently spoke with Ed Dressel from RetireReady Solutions about their flagship software product called The Retirement Analysis Kit, better known as TRAK. You can watch the video interview below and the text transcript follows. NOTE: 5 Minutes, 55 Seconds starts the screencap walkthrough of the platform… VIDEO TRANSCRIPT: Sharon: Welcome everyone. Today I am talking with ..read more

Free Template Tuesday Downloads Now Available Starting Aug 16, 2022 Every week inside the free VIP Resource Library, I give away one or more templates from the 401k Business in a Box Library (normally only available inside the paid program). Here are this week’s free templates. Click Here to go to the VIP RESOURCE LIBRARY and Download the FREE TEMPLATES Service Your Clients: Sample Meeting Minutes Inside the Plan Compliance File in a Box, you’ll find sample Committee Meeting minutes to include in the Fiduciary Section to provide plan sponsors with a format for documenting the meeting and de ..read more

How to Get 401k Referrals the Right Way In this article, I want to share with you some referral marketing strategies I’ve learned over the years, as well as some tips courtesy of Stephen Wershing, CFP® and his book,  Stop Asking for Referrals (with permission). I’d highly recommend that you pick up and read a copy of this his book because it is, by far, the most comprehensive book on referral marketing that I’ve personally ever read. You’ve Been Doing it All Wrong Stephen says to forget all of the bad advice you’ve ever heard about asking your clients to give you names….advice that tell ..read more

Free Template Tuesday Downloads Now Available Starting Aug 9, 2022 Every week inside the free VIP Resource Library, I give away one or more templates from the 401k Business in a Box Library (normally only available inside the paid program). Here are this week’s free templates. Click Here to go to the VIP RESOURCE LIBRARY and Download the FREE TEMPLATES Service Your Clients: Plan Provider Review Checklist A best practice is to review plan providers annually. This review should include identifying any services not utilized or delivered, needed to be added, etc. and to verify the fees stated i ..read more

Resource Review – Hero7 and the Plan Governance Index (PGI) Score Are you looking for a way to get your foot in the door and offer a fiduciary assessment (of sorts) to new 401k prospects? How about a way to document and measure all the work you do with plan sponsors and help bullet-proof your book by demonstrating a strong process is in place? I recently spoke with Todd Harlow from Hero7 about a valuable resource they offer advisors called the Plan Governance Index (PGI) Score and this article outlines my impression of that tool. First, a Little Backstory… When I was an active 401(k) advis ..read more

Free Template Tuesday Downloads Now Available Starting Aug 2, 2022 Every week inside the free VIP Resource Library, I give away 3 different templates from the 401k Business in a Box Library (normally only available inside the paid program). Here are this week’s free templates. Click Here to go to the VIP RESOURCE LIBRARY and Download FREE TEMPLATES Grow Your Business: Compliance File Checklist Complete Campaign Two weeks ago I gave away a free article titled, “Documenting a Prudent Process” along with the “401k Plan Compliance File Checklist.” If you missed it, they’re both available i ..read more

Free Template Tuesday Downloads Now Available Starting July 26, 2022 Grow Your Business: Social Media Graphics Want to a free sample of the graphics you get inside the Social Media Posts Kit? Today you can access the “News Flash” social media graphics – created for you grab your follower’s attention when sharing timely news and industry updates. Service Your Clients: Onboarding / Annual Review Checklist Also available is a checklist to help set expectations when onboarding a new client – and for going over during annual review meetings to demonstrate all you’ve done for your clients throughou ..read more

How to Get New 401k Leads Into Your Pipeline Want more 401k leads? Not sure the most effective methods or where to start? One of the best places to begin, is by asking other 401k advisors who are having success in generating new 401k leads, what methods they’re using. The Marketing Effectiveness Survey Every few years I post a 401k Marketing Effectiveness Survey for 401k advisors to complete, then I compile and share the results. The last one was at the end of 2019 with the results being released in 2020. The results don’t seen to vary much from year to year for what makes the most effective ..read more