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with Wendi Webb
Director, Advisor/Client Solutions
Aug 2, 2012
Capture More
Retirement Rollovers
Capture More
Rollover Business from
Clients, Prospects & COIs
Marketing Campaigns Client Reprints Marketing Resources
Advisor/Client Solutions
September Observances
Business & IndustrySep 3-7. National Payroll Week
Sep 16-22. Farm & Ranch Safety and Health
Week
Sep 17. Air Force Birthday
Sep 22. Business Women ‘s Day
Sep 29. VFW Day
Special ObservancesCollege Savings Month
Coupon Month
Happy Cat Month
Self Improvement Month
Sep 2-8. Waffle Week
Sep 9. Grandparents Day
Sep 17-23. Constitution Week
Sep 12. Video Games Day
Sep 13. International Chocolate Day
Sep 16. Stepfamily Day
Sep 19. Talk Like A Pirate Day
Sep 22. Fall Equinox
Sep 22. Hunting & Fishing Day
Sep 23. Dog Week
Sep 29. Museum Day
Sep 29. Coffee Day
Cause ObservancesBaby Safety Month
Campus Safety Month
Childhood Obesity Awareness Month
Healthy Aging Month
Sep 8. International Literacy Day
Sep 9-15. Assisted Living Week
Sep 11. Patriot Day
Sep 15. Greenpeace Day
Sep 15-22. Pollution Prevention Week
Sep 15-Oct 15. Hispanic Heritage Month
Sep 17. Constitution/Citizenship Day
Sep 17. VFW Ladies Auxiliary Day
Sep 18. ADD Awareness Day
Sep 21. International Peace Day
Sep 21. National POW/MIA Recognition Day
Sep 28. Native American Day
Sep 29. Women’s Health & Fitness Day
Financial Dates & DeadlinesSep 17. 3Q 2012 Estimated taxes due
Sep 17. Last day for corporations,
S-corp, & partnership to file 2011
extended returns
Financial Theme of the Month: Small Business Retirement Plans
Commonly Observed HolidaysSep 3. Labor Day
Sep 3. Labour Day (CA)
Sep 17. Rosh Hashanah
Sep 26. Yom Kippur
Marketing Intelligence
You
Client
Prospect
The Rollover Opportunity
"By any measure, the IRA opportunity will be one of the largest money in motion events in the
U.S. over the next 5 to 10 years."
"Rollovers are expected to drive between 40% and 50% of net new money for wealth managers and will total $7 trillion in assets or between 12% and 14%
of all household assets by 2015.
"Capturing IRA Rollovers," McKinsey & Co, July 2011
Misconception #1
Misconception: Investment options and fees drive consumer decisions.Reality: Convenience and perception of simplicity is often the leading decision factor for consumers who prefer the path of least resistance.
Source: "Capturing IRA Rollovers," McKinsey & Co, July 2011
Misconception #2
Misconception: Consumers who have advisors automatically roll over assets with them. Reality: A surprisingly large number of advisors don’t address the issue with their clients, even though rollovers and IRA consolidation are critical client acquisition events.
Source: "Capturing IRA Rollovers," McKinsey & Co, July 2011
Missed Opportunities
Source: "Capturing IRA
Rollovers," McKinsey &
Co, July 2011
Misconception #3
Misconception: IRAs don’t bring in substantial assets from the affluent or high net worth.Reality: IRAs represent close to 20% of assets for households with $500,000 to $5 million in investable assets.
Source: "Capturing IRA Rollovers," McKinsey & Co, July 2011
Average Balances
Source: AdvisorOne,
June 2012
Misconception #4
Misconception: IRA rollovers are rare and hard to predict, so the opportunity closes quickly.Reality: One out of five brokerage customers experience a rollover event each year, such as a job change or divorce, and advisors typically have a one- to three-month window before consumers move assets away from the plan after the trigger event.
Source: "Capturing IRA Rollovers," McKinsey & Co, July 2011
Misconception #5
Misconception: A sale is closed when the client agrees to roll over assets.Reality: Consumers easily disengage when the process takes too long or is too complex, and players can lose as much as 60% of applicants during the rollover process
Source: "Capturing IRA Rollovers," McKinsey & Co, July 2011
Large Assets
Advisors who are highly successful at obtaining business in this market
capture an average rollover account size of $355,000, which is 2.4 times
larger than those advisors who do not make this market a priority.
Source: Cogent Research, April 2011
Rollover Marketing Campaign(s)
Capture More
Rollover Business from
Clients, Prospects & COIs
1. Set campaign objectives
2. Define target audience, build list
3. Determine marketing deliverable
4. Create campaign & materials
5. Establish campaign schedule
Campaign Planning
Campaign OverviewObjective: To build a reputation as the "Rollover Expert" through a series of
marketing activities focused on near-term rollover candidates
Goals:
• Build a reputation
• Capture more rollover/retirement business
• Get in front of groups of qualified prospects
• Showcase retirement planning expertise
• Make it easy for people to give us referrals
• Help people make better retirement decisions
THERollover Expert
Define Target Audience
• 55-70 years old
• Currently working or retired within last 5 years
• Large account balances
• Variety of accounts & investments
• Working at largest possible employer
• High earner with long history of savings
• Changed jobs several times throughout career
• Slight preference for females
• No other advisory relationships
• Smaller plan providers
Marketing Deliverables
Social
Event
Educational
Workshop
Public
Speaking
Conference
Call
Webinar
Campaign
Whitepaper
Direct
Cold
Calls
Referrals
Marketing Strategy
• Campaign Objective: Become known as Rollover Expert
• Target Audience: Niche of near-retirees age 55-70 with
qualified retirement assets
• Marketing Deliverable: Educational workshop
• Marketing Channels: Event, Emails
• Topic: How to Get Rollover Ready
• Launch date: September (?)
• List:
• Venue:
Who do we invite?
Where do we hold it?
• Review employment of all current clients & prospects with
retirement plans
• Review recently retired clients' place of employment.
• Research clients' & prospects professional affiliations
• Research clients' & prospects' community & charitable
affiliations
• Review COIs
• Review social networks
Find a Champion
3 Venues
Workplace Host Your Own Speaking Gigs
How to Get Rollover Ready
Rollover Ready
Build a Workplace List
• List of plan sponsors & employers in your area
• Third Party Administrators (TPAs)
• Retired employee associations & other alumni groups
• HR managers & associations in area
• Office managers & associations
• Employees benefit brokers, specialists
• Payroll services companies
• CFOs
• Board members
• Credit unions
• Business owner clients
How to Get Rollover Ready
Host Your Own
• Invite working clients & prospects age 55+
• Host sessions near a work site
• Pick an interesting venue
• Scale presentation depending on clients
• Invite COIs & their clients
• Partner with COI
• Partner with non profits, schools or libraries
• Host a series of retirement-focused workshops
• Invite the employees of current clients
Rollover Ready
• Compile a list of associations, professional & technical
networking groups, community organizations needing speakers
or holding events
• Compile list of event planners & association decision-makers
• Interview event planners to determine needs
• Customize marketing kit for event planners
• Modify speech to accommodate different event needs
• Create a drip schedule for event planners
• Create press release for each appearance
• Build Speaker's Page on web site
Solicit Speaking Gigs
Rollover Ready Resources
• Marketing Toolkit
• Promotional Material
• Workshop Material
• Follow-up Material
• 'Rollover Ready' Kit
• Email Campaigns
Download all materials from the
Rollover Resource Page
Marketing Toolkit
• Campaign Toolkit (PDF)
• Strategy Brief
• Lunch & Learn Schedule & Checklists
• Marketing Postcard
• Email invitations & reminders
• Phone scripts & reminders
• Plan Sponsor Introductory Letter
• Plan Sponsor Lunch & Learn Flyer
Promotional Materials
Plan Sponsor Materials
Workshop Materials
• Sign-In Sheet
• How to Get Rollover Ready Slides
• How to Get Rollover Ready Script
• Workshop Notes for Attendees
• Evaluation Form
• Handout: Rollover Ready Checklist
Rollover Presentation
• 45 slides
• Runs about 45"
• Can be cut to 30"
• Can be branded
• Interactive
• Call to action
Follow-Up Materials
• Thank you note copy
• 3 Email messages
• 3 Client reprints
• Follow-up phone scripts
Dear Emily,Dear Emily,Dear Emily,Dear Emily,Thank you for Thank you for Thank you for Thank you for participating in participating in participating in participating in our "How to Getour "How to Getour "How to Getour "How to Get
Rollover Ready Kit
• 11 Biggest Rollover Blunders Guide
• IRA Custodian Checklist
• 1st Year Retiree's Tax Checklist
• Retirement Ready Checklist
Email Campaigns
• Drip communication series
• 11 "One Minute Memos"
• Introductory email
• Client version
• COI version
Workshop Tips
• Serve Subway+ sandwiches
• Don't take orders; just offer a variety
• Food lets you call for RSVPs
• Include lunch sides: fruits, chips,
cookies & beverages
• Keep it simple & self-contained
• Set up the room for conversation
• Hand out swag
• Tell stories
• Have fun!
The Competition
You
Client
Prospect
Competitive Factors
You
Client
Prospect
Too Easy?
Vanguard
Fidelity
TIAA-Cref
Investor Decision Making
Source: Spectrem Research, August 2011
Consumer ComplaintsFidelity
Vanguard
TIAA-Cref
Consumer Complaints
• Consumer Complaints & Reviews: Fidelity http://www.consumeraffairs.com/finance/fidelity.html
• Complaints Board: Fidelityhttp://www.complaintsboard.com/bycompany/fidelity-
investments-a21296.html
• Customer Service Scoreboard: Vanguardhttp://www.customerservicescoreboard.com/Vanguard
• Consumerism Commentary: TIAA-Crefhttp://www.consumerismcommentary.com/problems-with-
tiaa-cref/
Fidelity Help Wanted
Source: Fidelity.com, April 2012
Rollover Marketing Tips
• Get plan documents of local employers
• Review 402(f) notice
• Pay attention to your clients' retirement accounts
• Ask clients to send you 401(k) statements 1-2x a year
• Review clients' Form 5498
• Don't forget 403(b)s, 457s, SEPs, SIMPLEs, ESOPs
• Never let the client call the recordkeeper alone
• Search FreeErisa for plans & people
• Search Linkedin for names & responsibilities
Be Conversant
• Roth IRA rollovers
• ROBs – Rollover for Business Startup
• Solo 401(k)s
• Self-directed 401(k)s
• 401(k) rollover annuity
• In-service distributions
• Withdrawal provisions
• Retirement Income Options
• Account consolidation
• IRA rules & regulations
Advisor Referral Clinic
5 Referral Myths Debunked
Bob David
Advisor Referral Expert
Topic
Hosted by
Janet Bernstel
August 9, 2012, 4 p.m. ET
