It’s easier to drive revenue through up-selling or cross-servicing existing customers compared with going out and finding new customers.

Here are how advisory firms are selling to plan sponsors and also successfully cross-servicing 401(k) participants.

Selling your 401(k) Services

Showing a sample like this will help to engage prospective corporate clients’ owners and HR Executives. They love how your firm is reminding employees about total rewards.

Process: create a custom Stencil that shows the total rewards for the company's employees.

Cross-Servicing Plan Participants

For participant education and enrollment meetings, create samples like this or one of these to help employees understand which 401(k) investment options they might consider based on how it fits into the rest of their financial picture. Depending on income level, they’ll either get your firm’s help in creating their own personal Asset-Map, or they’ll use the Discovery Interview to create/complete their own Asset-Maps (Help Article). Or, they’ll be “old-school” and use paper and pen to fill out the mini fact finder that you hand out. When completed, use it to make their Asset-Map Report.

Highly Compensated Executives

It takes 2 minutes each to create/save/print, so an Asset-Map like this is usually only used for higher earning participants.

Process: Apply a stencil to the participant's Asset-Map and update the 401(k) value, then print it.

Rank and File Employees

Process: Hand out (or email) Asset-Map’s mini fact finder to plan participants after the investor education meetings and email your Discovery Interview link to them. Participants who fill it out can schedule a web-meeting with you or one of your associates if they’d like advice on their individual financial life.

Tags: retirement, sales, service, financial mind mapping


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