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April 08, 2013 at 08:05 AM
April in Minnesota. There’s nothing else like it.
It’s warm – well, warm enough to no longer be cold.
For me, springtime has always meant a chance to try new business-building ideas in retirement planning-–some of which I’ll highlight here.
Adopt a ___
When I was out for a walk after work last week, I passed one of the many beautiful city parks that surround my neighborhood. Suddenly, I saw the same sign in the same local park that I must have passed by a million times before—and that gave me a marketing idea.
In suburban Minneapolis, several smaller cities have Adopt-a-Park programs. For this program, volunteers work all year to keep the local parks beautiful.
How about adopting a company-based retirement plan in your area instead? It’s a new way to gather assets and open a new investment-advisory relationship in 2013.
I believe it makes a great deal of asset-gathering and business-building sense. You’d probably be the only advisor in your local market with such a program.
I’m sure the many of your best clients who are still working have good-sized company retirement-plan accounts. After all, 401(k) plans, 403(b) plans and 457(b) plans make up a large part of many investors’ asset base.
Most company retirement-plan menus frustrate many clients (and even financial-services professionals) who participate in company, non-profit and other organization’s retirement plans.
With the stock market levels at multi-year highs, now is a great time to ask those same clients about their interest in an independent, third-party analysis of the investment options in their individual company retirement plan accounts.
Steps to Business Building
First, ask your best clients for a copy of the default menu of mutual fund options.
