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Prospecting Strategy: Converting Retirement Plan Participants

Are you missing out on what could be your largest group of prospective clients?


As you seek to grow your practice, sometimes the answer to effective prospecting may be right in front of you. In the case of a retirement plan advisor, you have access to thousands of retirement plan participants who need help beyond their 401(k). Have you taken steps to convert them by showing value beyond managing their retirement? 

Make the most of your access by starting to acknowledge your plan participants as prospects. This is where you can make a difference. As as retirement plan advisor, you have the opportunity to deliver personalized planning experiences. People’s financial goals go far beyond retirement. 

Why not extend your services to address people’s immediate financial needs? This approach can help you start to build trust and deepen your relationships by offering participants services that address where they are in their financial journey, and ensure that they’re ready when retirement comes. 

By offering personalized access to provide answers to people’s most important financial questions and addressing issues that may get in the way of retirement, you can convert clients more effectively and grow your book of business. 

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What’s In it for the Plan Sponsor?

It’s no secret that hiring and retention practices have shifted, and employees now expect more than ever before. People look to their employers to meet greater personal and professional needs. 

You can help plan sponsors deliver to their employees by education and helping them with the many financial goals that go far beyond retirement. Some ways to do this include: 

  • Hosting a live all-employee event
  • Presenting a virtual event inclusive of remote employees 
  • Delivering webinars on key topics such as college planning and debt management
  • Emailing educational content 
  • Sending out newsletters on the latest in wealth management
  • Providing office hours to give plan participants access to one-on-one advice
  • Offering complimentary consultations to those who opt in

Providing Personalized Plans at Scale

You may be asking how to deliver on this strategy, and at scale. At TIFIN Plan, we offer an AI-powered platform that allows advisors to create focused, quality plans that can help you address people’s needs across a variety of lifecycle scenarios including:

  • Emergency Funds 
  • Debt Management
  • Budgeting
  • Family Planning
  • And more

TIFIN Plan allows you to create plans in ⅓ the time without sacrificing quality, allowing you to service more prospects. As Michael Kitces recently shared in a newsletter, “it is perhaps not surprising that one of the biggest hindrances to the delivery of financial planning is simply the time it takes… Which severely limits how many clients a typical financial planner could even handle (to generally no more than 2-3 new clients per month at the most!).” Why not try a solution that allows you create precision plans that add immediate value?

Ready to learn more about how to grow your business through TIFIN Plan at Work? Book a demo to get started. 

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This blog is sponsored by TIFIN Grow LLC. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisor before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of TIFIN Grow LLC. As a technology company, TIFIN Grow LLC provides access to tools and will be compensated for providing such access. TIFIN Grow LLC does not provide broker-dealer, custodial or other related investment services. TIFIN Grow LLC receives compensation for all search results marked “sponsored.”