Presentation Transcript

1. Overview of Services
2. Who We Are and Plans We Serve Coordinated team of trusted, experienced professionals working with a nationwide network of advisors Plans We Serve: 401(k) 403(b) 457 Cash Balance/Defined Benefit Money Purchase Pension Plan 1950 – Our CPA firm was founded 1999 – Expanded into Wealth Management and Retirement Plans
3. Who We Serve Advisors served throughout the country: CPAs Investment Advisor Representatives Broker Dealers Outside TPAs
4. Upside for Advisors . . . TWO PLANS A YEAR (average size of $ 2M*) Annual Advisor Potential Revenue Multiple Benefits of 401(k) Plan Business $4,000,000 of new plan assets annually over 4 years* $ 80,393 in annual revenue Plus Additional Business Potential Annual Contribution increases Rollover Opportunities New source of referrals & client assets * Hypothetical example using the following assumptions: $4M in new plan assets annually at 0.35% advisor fee and 15% annual growth of assets assuming annual market growth of 7% and annual plan contributions of 8%.
5. Why We Serve Insurance Co./Traditional Bundled High-hidden fees Cookie cutter plans (no plan design) Service Standards are low Unbundled Solution Retirement Plan Consultants LLC wholesales a single point of contact solution Third Party Administration Recordkeeping – Daily Valuation Partnered with Successful Wealth Management Firms
6. Advisor Advantage Service Webinars Annual Plan Review Quarterly Statements Plan Design Training Retirement Plan Consultants University (RPCU) Prospects to Clients Plan Discovery Scorecard Plan Design SMART Plan Easy and Streamlined Conversion Documents New Business Marketing List Marketing Materials Cold Call Fundamentals Plan Analysis Plan Sales Assistance
7. Advisor Advantage - Training Our essential training and tools includes:
8. Advisor Advantage – New Business Go to www.retirementplanconsultants.net/advisor.phpand click the Sales Workbench button on the left Login User: Sales Password: rpc Sales Workbench
9. Advisor Advantage – New Business Sample Marketing List Customized for Your Area
10. Advisor Advantage – Prospects to Clients Preliminary Plan Analysis 2F – This plan or any part of this plan has been designed/intended to comply with section 404(c) of ERISA Is the plan really 404(c) compliant? Is there fidelity bond coverage? If so, is there enough?
11. Advisor Advantage – Prospects to Clients
12. Advisor Advantage – Prospects to Clients Does plan design make a difference? Let’s take a closer look . . .
13. Advisor Advantage – Prospects to Clients Innovative Plan Design
14. Advisor Advantage – Prospects to Clients Innovative Plan Design
15. Advisor Advantage – Prospects to Clients Innovative Plan Design
16. Advisor Advantage – Prospects to Clients Innovative Plan Design
17. Advisor Advantage – Prospects to Clients Innovative Plan Design
18. Advisor Advantage – Prospects to Clients . . . . . THE QUESTION ??? “Mr./Ms. Plan Sponsor, Would you give$6193to your employees to give you and your family$122,943” And by the way the cost to you is $0…… In fact . . . if you don’t do this you will send$10,585to the IRS.
19. Advisor Advantage – Prospects to Clients Innovative Plan Design Beyond the numbers . . . Business Succession Planning Generational Wealth Planning Breaking New Ground in Document Drafting
20. Common Retirement Plan Issues Plan is outdated Roth feature not implemented No formal Employee Education Program 404(c) election not used or followed Fidelity Bond lack of coverage Efficient plan design not utilized Consistently failed discrimination testing Lack of advisor involvement If Lack of Advisor Involvement, here are your opportunities … No Default Investment Selection Lack of established Investment Committee Investment Policy Statement not created No Fiduciary Services being provided No formal fund review
21. Fiduciary Audit File Binder Service Agreements 1. Recordkeeping and Administrative Services Agreement 2. Qualified Retirement Plan Agreement ADV Forms 3. Custodial Agreement E-Statement Agreement Plan Documents 4. Formal Record of Adoption 5. Adoption Agreement QDRO Procedures Loan Procedures (if applicable) Automatic Rollover Services Agreement (if applicable) 6. Basic Plan Document 7. IRS Determination Letter 8. Summary Plan Description 9. Default Investment Notice 10. Sarbanes-Oxley Blackout Notice (if applicable) 11. Fidelity Bond Table of Contents
22. Moving Forward What are your next steps?
23. Winning Retirement Plan Business 1. 2. 3. 4. 5. Easy Five Step Process Prospect Set the Appointment Setup Meeting with Decision Makers E-mail Discovery Scorecard (See Example) Gather Retirement Plan Information for Analysis and Plan Design Present Solution SMART Plan Presentation Plan Design Discussion and Examples Overcome Concerns and Objections with Plan Sponsor Establish Next Steps Before Ending the Meeting Follow Up Be Available for Questions Drive the Decision Making Process Ask for the Plan Complete Plan Setup Worksheet Review Plan Design Make Final Decisions – Features, Design, Price Utilize Regional Manager for Worksheet Assistance Submit Complete Documents to Plan Implementation Manager Determine Your Target Market Review Current Client List Contact List Provide by RPC Sales Workbench Prospecting Tools
24. . . . And They Said Yes! How RPC comes in to help
25. Plan Implementation with RPC Easy Five Step Process 1. 2. 3. 4. 5. Plan Set Up Worksheet Received “Closing of the House” Packet Signature Ready Forms Enrollment Process Magazine Quality Enrollment Kits Participant Education Payroll Call Administrative Website Training Fiduciary Audit File Binder Electronic and Hard Copy Documentation System Custom-Tailored Plan
26. Contact Us Retirement Plan Consultants LLC www.retirementplanconsultants.net 1-877-800-1114 Fax: 402-379-3818 info@retirementplanconsultants.net Tim Cowell Midwest Regional Director Cell: 402-239-9471 timc@wealthfirm.info Andrea E. Thompson Eastern Regional Director Cell: 860-604-4454 andrea.thompson@wealthfirm.info Michael D. Taylor Western Regional Director Cell: 503-706-9124 miket@wealthfirm.info