NU Online News Service, July 23, 6:23 p.m. – Nationwide Financial Services Inc. wants to help investment advisors use 401(k) Day to sell more retirement plans.
The 401(k) Profit Sharing Council, Chicago, created the day to highlight the importance of retirement savings plans. This year, the council has scheduled the day for Sept. 3.
The day gives advisors a chance to talk to employers about fiduciary responsibility, participant education and plan design, Nationwide says.
Advisors can also use the day to boost individual product sales by holding seminars for plan participants, Nationwide says.
Nationwide is rolling out 401(k) Day tools for advisors.
One tool is a qualified plan market guide, which explains the market for small business retirement plans and offers strategies for approaching clients. The company is also giving away a 401(k) Day checklist, which offers a list of steps advisors can take to build retirement plan business, Nationwide says.
Agents can reach out to the plan participants by helping them cope with the recent market volatility, says Michael Peddicord, a national marketing director at Nationwide.