As a financial professional making suitable recommendations, you need to “know your client”. Many times though, we don’t know everything. Sometimes clients can be forgetful or have a personality type that doesn’t allow them to comfortably reveal everything. Worst case scenario is that they have another adviser they are working with. That scenario unfortunately puts you in a competitive situation for information and asset gathering at an account/micro level.
If your efforts to holistically service your clients and also have success in your business feels like a race... that’s because it is.
Your comprehensive plan for your client probably includes a rollover of their group retirement plan assets. If you are waiting for this opportunity, you may want to rethink your plan. Not only can your plan be blocked by that “other” adviser, but you also have legislation in the mix that has brought insurance products back into the benefit world possibly making things a bit more complicated.
Fear not though! TPFG has always realized the value of an adviser to a client, and we have your back.
As you continue to make your clients aware that your ability to do a good job depends upon their openness to reveal their needs and assets, don’t forget to ask for their latest 401(k), 403(b) or 457 (employer-sponsored group retirement plan) statement. This asset can get overlooked as you may not know that you can offer in-plan advice to your clients with our help. To be clear, this is not an in-service transfer or rollover. You want to ask for the statement because a self-directed brokerage account (SDBA) option may exist. This wonderful window gives your client access to your advice and a plethora of additional investment choices, beyond the core offerings.
Once and when you understand the size of this new opportunity, it doesn’t mean that you need to become an expert in the intricacies of employer-sponsored retirement plans or self-directed brokerage accounts; you’ll just want to team up with experts. That is where we fit in.
The Pacific Financial Group is a leader in this unique space, and we’ve gotten extremely good at helping advisers expand their assets under management by tapping into their current books of business and finding statements that may have been missed.
Our selection of In-Plan Advice options has just gotten turbo-charged by the new Strategy PLUS line of strategic and tactical models filled with many new and well-known strategists. This platform was developed specifically for employer plan participants with self-directed brokerage accounts. You can start right away with the next client or prospect appointment and ask for their retirement plan statement.
From there, contact our Sales Team to lead you in the right direction. It really is just that simple.
Let your clients know how important they are, encourage open discussion, and get that statement.
To download the PDF, click here.
Disclosure: The information provided herein is the opinion of The Pacific Financial Group (“TPFG”), a registered investment adviser, and may change without notice at the discretion of TPFG. TPFG makes no warranties as to the accuracy of the information or any representations made or implied at any time given. The information should not be construed or interpreted as an offer or solicitation to purchase or sell a financial instrument or service. The information is for informational purposes only and should not be relied on or deemed the provision of tax, legal, accounting, or investment advice. Past performance is not a guarantee of future results. All investments contain risks to include the total loss of invested principal. Diversification does not protect against the risk of loss.