What’s your 401(k) Business Game Plan?


Ready, set, let’s go! In this article, we’re going to tell you exactly what you will need to super charge your 401(k) business so that 2021 can be your best business year ever. Are you ready?


Top draft picks

To perform at your best, you need the best. It’s time to check all your retirement plan servicing equipment - is it top of the line? Do you subscribe to investment screening software, fee benchmarking analysis, RFP evaluating tools and financial wellness programs? Do you have a Home Office that supports your retirement plan business? Do you have bench strength if you need specialized support (TPAs, wholesalers, CPAs, ERISA attorneys)?


To fully support your retirement plan clients you need an all-star team. How many games have been won solely on QB sneaks? As a 401(k) quarterback, build yourself a winning team and lead them to victory.


Put on your game face

Look at your image. How are you presenting your professionalism? Start by looking at your website, social media profile, YouTube channel, email signature, e-newsletter template design, brochures, and any other materials that a client, prospect and/or center of influence could see. Also consider, when you dial-in, video conference and/or walk into the room, how are you representing your firm? We’re serious. You won’t see a professional athlete walk onto the field with a dirty, grass stained, smelly jersey, would you?


And it doesn’t stop there. There is much more to it than physical appearance. Look at your digital presence. When your clients, prospects and centers of influence Google you, what do they find? Take a few hours per month and put in the work to make your virtual self a true and shining reflection of you and your retirement plan expertise.


Storm the field

When players march on the field, do they slowly saunter lackadaisically, or do they hustle with authority? Add some confidence to your step.

Marketing your retirement plan advisory services takes confidence. It takes awareness of who you are and what you do, and understanding the value you deliver. Take command of your business’ growth by implementing a professional marketing plan. This isn’t the farm league. This is the big time and your marketing should be ready to win.


Pass to Completion

If the ball is coming straight to you - a perfect spiral - what do you do? You catch the ball, right? According to a Schwab survey of top performing firms, your marketing efforts should yield 3.7% referrals from clients, 1.5% introductions from centers of influence and 3.1% interested leads from marketing.[1] If you’re marketing metrics look difference, it’s a fumble. Look at these metrics and then square up your inbound sources.


Identify and find the differences between the above marketing metrics and your business. Then focus your efforts on three results. Start with referrals then work up to centers of influence. These are the easiest to receive. Then practice the art of developing the skill set and refinement necessary to cultivate your outreach marketing campaigns.


Rush the goal

Once you’ve caught the ball, setup a meeting with the plan sponsor prospect: it’s time to advance. As a retirement plan advisor, this meeting should not be a rookie experience.*

Evaluate your pitch book - is it still relevant? With the SECURE Act, CARES Act, and post COVID-19 world, things have changed. Make sure it’s up to date and accurate. Many 401(k) advisors are choosing to focus a lot of their pitch on financial wellness. Many employees have experienced grave hardships (WFH complexities, extraordinary stress, home schooling, loneliness, budgeting fears, marital strife, cyber security and lots more).


It’s okay to pivot. If you want an outside, yet experienced player to take a look at your pitch deck, setup a call with your favorite wholesaler. They have seen a lot of pitch decks and can definitely share some top plays.


*And if it is, no worries, we’ve all been here before. This is an excellent opportunity to partner. Ask for an experienced advisor to join along. Finding an awesome mentor can make all the difference (thanks, Larry!). Then once you get comfortable, you can handle them on your own.


A winning mindset

Whether or not you chalk this one up as a win, it’s all in how you play the game and what you learn. Evaluate every portion of your business. Dissect it. Put it back together and make it stronger. Watch your game reel to learn what minor tweaks can be made to truly take your game to the next level. Most professional athletes rarely need major changes; they just continue to master the small things. By focusing and micro tuning your business, you can become the Hall of Fame retirement plan advisor you were born to be.


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

[1]Charles Schwab. “2020 RIA Benchmarking Study.” July 2020.

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