The Stakes Have Been Raised, Are You Ready?

Fidelity Investments is projecting a major shake-up in the qualified plan market. Their study suggests 4 in 10 plans are actively in play. Are you ready? The time to start contacting prospects is today! We have contact letters ready-to-go with talking points and follow-up scripts. We also have custom reports specifically focused on fiduciary liability, management fees and plan performance. Call us right now or fill in the form.

Fidelity Investments 2017 Plan Sponsor Study

Fidelity Investments has released their “2017 Plan Sponsor Attitudes” study.  Per their study, close to 4 in 10 plan sponsors are actively looking for new advisors.

The study projects $1.3 trillion in defined contribution assets are in motion. The report includes a mountain of statistics, but the bottom line is clear; opportunity is staring you right in the eye.

At the same time you’re vulnerable too. If 4 in 10 plans are in play that means 40% of your plans could also be up for grabs.

We’ve been talking about fiduciary liability for years now and the Fidelity study illustrates just how serious this has become.

Fiduciary Concerns Are Prevalent

Fiduciary issues are a primary concern and solicitations from “specialty advisors” seem to be what’s churning the waters.

Plan executives report feeling less confident and admit that they need help from knowledgeable professionals. They are motivated and ready to make changes in order to remedy existing problems and avoid fiduciary issues.

An incredible opportunity exists for the “trusted expert” on qualified plans in local markets. Solving perceived problems is a door opener. You don’t have to anticipate what the prospect is thinking, you know what their thinking. There is no better way to make a connection than to anticipate and resolve problems.

There is an old axiom that holds true in the 401(k) arena; you can’t hit a target that doesn’t exist. It’s time to identify targets and start making contacts.

We have several reports focused specifically on the fiduciary issues that are the primary concerns of plan sponsors. We’ve been pointing out management fee issues and poor plan performance for several months. Each report is specific to a particular plan not some nebulous group. You cannot get more personal than this.

We’ve put together a series of contact letters with talking points and follow-up scripts connected to the fiduciary issues. You need to start now and maintain ongoing contact with your target market. If you don’t, somebody else will be doing it instead of you. You can’t be up for consideration as an advisor if a sponsor doesn’t know you exist. You have to get out there and make yourself known.

We’re here to help you penetrate this market. We can customize letters to help you reach distinct markets or a specific target. Both will enable you to stand out from the crowd and promote your brand. A one size fits all offer isn’t going to work with this market. Each plan is distinct and each executive has their own perceived needs.

Fiduciary issues are the primary concern.  Plan executives are worried and looking for help. Determine what their problem is and solve it; and you will have a new client for years.

In addition, we suggest you survey your existing customer base and uncover their concerns. It’s less expensive to keep an existing customer than it is to find a new one.

Call us today, for all of these tools, tips, scripts, sales ideas and more. Don’t let the crowd beat you to the punch, get out in front and lead the way.

Call 800-282-4567

PS  We have contact letters, talking points and follow-up scripts for you to start contacting prospects today! We can also help you survey your existing customer base. Don’t let a competitor get to your client before you do. Call us and take action today.

Ask us about our contact program.