CFDD Marketing Commentary
7/6/2010--In spite of a no growth environment and a mature retirement plans industry, expert advisors can still grow their business thru increased efficiency, consolidation of retirement plan advisory services, professionalization of the advisor selection process and new media marketing. In addition to showcasing their skills, the ERISA Advisor Evaluator (EAE) online RFP service for plan sponsors is the most powerful marketing tool available to advisors who meet the minimum requirements. While due diligence, profiling and background checks on advisors are still in the embryonic stage of development and use, the EAE vetting process will fuel growth for specialists and substantiate the benefits of hiring them to direct sold plans.
CFDD Retirement Plans Commentary
7/6/2010--In addition to new media marketing, professionalization of the advisor selection process will be the next major trend to impact the financial services industry. Retirement plans knowledge, experience, credentials, resources, scale and collateral insulation will drive this trend. Registration and fiduciary status do not determine a retirement plan advisor’s expertise. Attending fiduciary symposiums on how to become an independent name fiduciary, including the rubber stamp that goes along with it, does not transform a generalist into an ERISA expert. Unfortunately, many generalists who lack the necessary expertise are repositioning their practice under the fiduciary umbrella for marketing purposes.
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To participate in the CFDD’s October 6-8, 2010 Advisor Conference Retirement Income Smackdown Case Study:
Case study submissions are open to all industry professionals who plan to attend the CFDD’s Chicago conference. To view the case study specifics, click HERE. |
