4 Ways to Make Small Business 401(k)s a Key Part of Your Practice

Many advisors will look to 2021 as a year to expand their advisory business to include more Small Business 401(k)s. Here are 4 steps to help you further your goal:

1. Take a few hours to learn more about retirement plans.

Looking for a place start?

 Educate yourself on the retirement plan landscape and plan differences with help from the retirement plan type overview.

 Watch helpful webinars to learn about 401(k) marketing, prospecting and plan design.

2. Know that retirement plans do not have to be complex to sell, set up or service.

You do not have to be a retirement plan expert to sell retirement plans. Your relationships with clients are more important than how much you know about complex retirement plan design.

Turnkey solutions that are easy for you to pitch and simple for clients to enroll and participate in are available. Products like Launch401(k) are low-cost and easy for small businesses to set up and operate.

3. Trusted business relationships matter.

Just as client relationships are crucial to your success as a financial advisor, retirement plan provider relationships with financial advisors are key to our success as a 401(k) services company.

Look for a partner with credentialed team members and years of industry experience. A solid retirement plan partner will put your mind at ease that your clients are in good hands.

We have a large number of licensed professionals to help advisors through every step of the sales process. 

4. Find opportunities inside your current practice.

You are already working with business owners. Leverage these contacts by offering them retirement plan solutions tailored to their needs.

 Is your client a high earner who wants to maximize retirement savings? A cash balance plan or SOLO 401(k) might appeal to them.

 Are simplicity and ease top of mind for your client? Tell them about Launch 401(k).

 Consider enhancing current SEP and SIMPLE clients to a 401(k).

Partner with JULY

These are 4 ways you can begin to make small business 401(k)s a key part of your practice. Contact your Regional JULY Sales Director to get started.

About JULY:

JULY is a 401(k) services company specializing in hi-touch, tech-enabled retirement plan services. Our employees have served as plan experts to advisory firms, advisor and employers in the small and micro 401(k) plan market for over 25 years. Over the last decade, our in-house software development team has built a host of proprietary technology solutions to streamline, automate and simplify all facets of retirement planning to make processes rewarding and easy for our clients. For more information about JULY, visit our website https://www.julyservices.com.

1US Small Business Administration


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