Providing small business employer plans allows you to deepen client relationships and potentially generate a steady flow of new assets under management.
Begin with your existing pool of clients to identify potential candidates for a small business employer plan.
Then create a written assessment using a Client Profile Sheet and call your top priority clients to set up appointments.
Learn more about small business employer plans, including employer responsibilities, tax advantages and employee benefits, such as employee recruitment and retention.
Once you have identified your clients and scheduled appointments, learn about your small business clients’ company objectives, size, financial situation and plans for growth.
For small businesses without a retirement plan in place, identify reasons why your clients might not have implemented a plan in the past. For small businesses with an existing plan, determine if there are any satisfaction issues with their current provider.
Develop a comprehensive proposal for your clients with specific recommendations on implementing a suitable small business retirement plan.
Present your retirement plan proposal recommendation to your small business clients.
Include features and benefits that could potentially motivate your clients to either offer a new retirement plan or consider changing providers, such as low administrative costs, ease of administration, potential business tax credits, tax deductible employer contributions, enrollment and marketing support or investment performance results.
Look for the centers of influence in your community: