When I started my practice in 2010, the idea was that my content would create referral sources from advisors and Third-Party Administrators (TPAs) using my articles to help retain and recruit plan sponsor clients.<\/p>\n
Occasionally, I would get companies that would solicit me because their service was to cold call plan sponsor clients. I always thought it was a waste of time because I don\u2019t believe that plan sponsors seek out ERISA attorneys on their own. Thanks to electronic filings of Form 5500, some databases plan providers can use to cold call plan sponsors. As a plan sponsor and plan fiduciary, I know this because I get the cold call.<\/p>\n
Does cold calling work? I don\u2019t know, I usually hang up as soon as I identify the caller as a telemarketer. Recently, I was invited to an event for plan sponsors by financial advisors. I immediately said no, because the last reason I\u2019m hiring a financial advisor is because they fed me on some junket.<\/p>\n
For me, I\u2019d rather develop relationships with referral sources than spend time, calling people and dealing with the angry hang-ups, but that\u2019s me.<\/p>\n
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