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Financial Planning > Trusts and Estates > Trust Planning

Finding Rollover Prospects: Some TipsMake connections early.

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Use of advisors increases with size of payout. But if departing employees do not already

have an advisor, they will go to someone they knowthe benefits office, a co-worker or

friend, a family member, or someone those people recommend.

  • Establish trust.

People will go to people they trust. So, establish trust before retirement occurs.

  • Follow local company developments.

Watch for mergers, acquisitions and other moves in your area, especially at firms with

25-50 people leaving per year. These people will be making rollover decisions.

  • Prospect the Human Resource director or key decision-makers.

Establish a trusted relationship with these executives, perhaps via personal asset

management services, and then propose that you also become the asset manager for

departing employees.

  • Offer employee seminars on asset management and rollovers.

Do these monthly. Make them educational, factual and generic. You can set up individual

appointments with interested employees after that. Consult experts when necessary.

  • Use referrals.

Remember, most people will do what their colleagues have done.

  • Try offering public seminars in areas where people are being laid off.

The turnouts may be limited, and those who attend will be checking out other experts,

too. But these meetings can help you get going and get referrals.

  • Focus on problem solving, not products.

The professional advisor is paid to solve the clients problem.

Source: Richard Ford, PlanMember Securities Corporation, Carpenteria, Calif.

Reproduced from National Underwriter Life & Health/Financial Services Edition, December 5, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.


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