Why You Should Meet with Wholesalers

Updated: Jul 13, 2020

“We don’t meet with wholesalers” but here’s why you should

When was the last time you worked “on” your business instead of “in” your business? We believe that taking a few minutes, hours, or days to truly focus on how to grow and scale it will ultimately help you become more profitable. And believe it or not, we think that wholesalers can provide support on your journey toward success.

Wholesalers meet with thousands of advisors per year, and they see some pretty cool stuff--whether it is marketing materials, campaigns, events, or something entirely new. They have tried and true field stories that all advisors can benefit from hearing.

Additionally, wholesalers have access to interesting value-add resources. This could include profitability workbooks, time tracking tools, investment screening, complimentary benchmarking reports, and much more. Ask your wholesalers. Find out what their team offers (maybe start a list that provides the name of the wholesaler, contact info, company name, and available recourses). That way, when you need information on a topic (e.g. financial wellness), you can contact T. Rowe Price and access their great comparison guidebook.

Another benefit of getting to know your wholesalers is that they know stuff. Yes, technical knowledge, but also about plans in motion (possible referral source), books of business for sale (purchasing a book), and advisors looking to change firms (recruiting). They understand your local advisor ecosystem and have their fingers on the pulse.Another idea is to keep a list of all the companies that your clients work with (recordkeepers and DCIOs) and then calendar a check-in meeting. Share an agenda with the wholesaler on what you want to talk about (e.g. product updates, service updates, additional value-add resources). Then meet for about 30 - 60 minutes and go through it together. This will help you stay informed when you meet with your clients (working “in” your business). At the same time, by hearing industry information and learning about the value-adds, opportunities will be created for you to work “on” your business, thus helping you to grow, scale, and ultimately become more profitable.

Wholesalers are friends, and they have great information to share, so why not set up a few meetings and hear directly from them how they can help you work “in” and “on” your retirement plan advisory business.

Thanks for reading and Happy Marketing!

About 401(k) Marketing

We believe the retirement plan industry can do better. Our clients are the best professional retirement plan advisors and TPAs in the business. They care deeply about saving America’s retirement future. We are proud to share their voices through industry writings, professionally-designed marketing materials (including websites), and expert content collateral. We lend support by promoting businesses through ongoing awareness campaigns. www.401k-marketing.com

About Retirement Plan Marketing

Retirement Plan Marketing is a product of 401(k) Marketing and is an ongoing turnkey marketing solution for retirement plan advisors. It is an easy-to-follow, consistent marketing program designed to get you noticed in your community and generate new retirement plan sales. When you deliver relevant plan sponsor content, you add value to your conversations and can work your way up to become known as the “go-to” retirement plan advisory office. www.retirementplanmarketinginabox.com

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401(k) Marketing, LLC is not in the business of providing legal advice with respect to ERISA or any other applicable law. The materials and information do not constitute, and should not be relied upon as, legal advice. The materials are general in nature and intended for informational purposes only. All content, including any brochures or other materials designed for potential use with plan sponsors, fiduciaries, and plan participants, must be reviewed and approved by the compliance and legal department(s) of the Financial Professional and/or Third Party Administrators firm prior to any use to confirm that they meet the firm’s legal and compliance policies and standards. The Financial Professional, Third Party Administrator,  and his/her firm are solely responsible for the use of content and any materials included herein, and for ensuring that all services provided by the Financial Professional and Third Party Administrators conform to the firm’s legal and compliance policies and standards.