Retirement Plan Crazy Season

It’s now Fall and it’s one of my least favorite time of the year because I love Spring and Summer and Fall means Winter is around the corner.

For a retirement plan professional, it’s one of the best times of the year because this is often the time for opportunity. Plan sponsors usually make plan provider changes during the 4th quarter in order to effectuate a January 1st conversion date.

So now is the time to sell your services to potential new clients. Each potential client is different with its own situation and its own gripes with their current plan providers. Most of the time, plan providers get fired for something other than the fact that fees were less somewhere else. It’s usually because the plan provider made a big error that cost the plan sponsor, or they referred the plan sponsors to another plan provider that was incompetent, or they are not offering enough services for the fees they charged. So this is the exact time to be having the conversation with the potential clients on why your services for the price you charge is better than what the current provider is charging.

Have those conversations and good luck. If you need help with the conversation, give me a call.

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