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Opportunity knocks for those who recognize it. We just entered a bear market and opportunity is knocking.
The performance of 401k and other qualified plans has tanked over the last 6 months.
Mutual fund values are at a 5-year low, employees are upset and employers need to provide answers.
A recent Wall Street Journal article indicates retirees have not managed their accounts properly and are coming up short on their retirement savings.
This is your opportunity to introduce yourself, review past performance and make future recommendations.
You have the investment expertise; we have the information you need to locate the best prospects for your marketing efforts.
With our data not only can you identify plans by location, size and plan type, you can also identify plans with investments in specific funds.
(Small Cap, Intermediate, Blue Chip, S&P Index or other fund types.)
Additionally, you can select plans based on the average balance of participant’s accounts.
This will enable you to focus on poorly performing plans as one of your targets.
In response to the dramatic surge of interest in fiduciary liability, Larkspur Data has created a new product that allows financial advisors to look for new plans that may need help. In creating this product, Larkspur Data has analyzed over 5 million public plan filings on over 90 different fiduciary “risk factors”.
Risk factors include:
- Improper filing of required documents
- Failure to take a 404(c) election (to reduce liability)
- Inadequate fidelity bond
- Failure to fill out and file “Schedule P” (to reduce liability)
- Asset valuation issues
- ...and many more!
Plan Risk Profile generates simple easy-to-read reports for every available plan. Each risk factor is explained in clear non-technical terms, so that an advisor can print the report and go over it face to face with a potential prospect.
Investment Advisors are always looking for new ways to attract influential people and wealthy investors. The problem is getting their attention. These individuals typically do not respond to direct mail solicitations. But by combining our Prospects of Wealth and Tax Exempt products you can develop a simple way to attract well-heeled individuals.
Here’s how. Locate a prominent local charity/foundation using our Tax Exempt Opportunities database. Contact the Director and let him know that you’re planning a seminar targeting some of the community’s wealthiest individuals. Ask if he’d like to attend and speak at the seminar. Tell him you will give him 15 minutes (or longer) to discuss all the wonderful things that his organization does for the community.
Will he accept your invitation? Absolutely, these organizations exist for the sole purpose of raising money and locating individuals who will support their cause. It would be foolish of him not to attend and participate, especially since you’ve offered to pay for the invitations, refreshments and the banquet hall. What does he have to lose? It’s likely that he might have a list of individuals he would like to invite as well.
Using your Prospects of Wealth database create a list of individuals that you wish to invite to a special seminar on “Charitable Remainder Trusts.” The seminar will be hosted in conjunction with the director of the XYZ Foundation. Use the foundation’s prominence to attract attendees. Be sure to place an “announcement” in your local newspaper prior to the event. Perhaps the charity will foot some of this cost, they typically receive print discounts.
Your audience will see this as more than just another investment seminar. Not only will you attract new clients, you may also end up raising significant sums for the foundation! As a result you might find yourself managing foundation assets. This would be in addition to assets of the attendees and assets of existing foundation donors.
You could easily offer six seminars of this type annually. This is a win-win situation for all involved and well worth the effort.