Some Sure-Fire Ways to Find More Retirement Plan Prospects
National Underwriter (Life/Health) (03/19/01) Vol. 105, No. 12 p.16; Lewis, Catherine N.H.

Catherine N.H. Lewis, principal and marketing consultant at Benefit Services, offers eight methods guaranteed to produce more retirement plan business. First, Lewis says, planners should pursue businesses that are growing and changing. She recommends staying abreast of the business community to see who is growing, hiring, adding new products, etc. Planners should also peruse their local paper and magazines, or attend social gatherings. Second, planners ought to contact nonprofit organizations in their area. Lewis says planners should volunteer to make proposals to the board of directors of the nonprofit about a 401(k) or other retirement plan. Third, seek out companies hiring new senior executives, Lewis says. Planners can begin by glancing over the classifieds for companies looking for new CEOs, CFOs, and human resource directors. Fourth, planners should partner with the local and state trade associations to which their clients belong. Fifth, Lewis says, planners should call on building prospects. When visiting a client's office, she says, planners should check the building directory for new prospects. They should then cross-reference those names with a plan database to learn about the business' current plans. Sixth, prospect where your competitors do not. Here, Lewis stresses the value of planners venturing into territories other planners do not frequent. Seventh, planners should focus lots of attention on their niche markets. For the eighth and final step, Lewis encourages planners to try alumni-directory prospecting. Here, planners are told to get a copy of the alumni directory from each school they attended, and then reconnect with old friends and acquaintances.

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