By Justin Pritchard, CFP® and Craig Ciarlelli, ChFC, AIFA
Justin Pritchard is not affiliated or registered with Cetera Advisor Networks LLC. Any information provided by Justin is in no way related to Cetera Advisor Networks or its Registered Representatives.
The retirement plan world is changing. These plans have always required ongoing support and specialized knowledge. Rules and regulations continue to evolve, and the burdens of serving as an advisor to plans such as 401k plans are increasing. Some broker/dealers even limit the ability of advisors to work in this space.
With increased fee transparency and stiffer competition, some plan-sponsors may demand more than what they’re currently getting. This can create problems if you are:
There is a way to help yourself and your clients while treating them with the care they deserve: partner with financial advisors who specialize in retirement plans. Your clients will appreciate the fact that their plan is serviced by experienced pension professionals who:
We want to partner with you and serve the retirement plans you currently work with.
Your greatest reward will be knowing that your valued clients are getting the service they need and deserve. In addition, you may still earn revenue. One-time, ongoing, and earnout options are negotiable as long as all service providers, broker/dealers, RIAs, and/or other entities will accommodate the arrangement.
If you partner with us, we can discuss existing relationships you have at the plan-sponsor. At your request, we can be sure to steer your clients’ questions to you while working only with the retirement plan. We will gladly communicate that we have been brought in by you as consultants to handle the 401k plan, and that executives should continue working with you on personal matters.
However, if you don’t want to work with individuals or participants in the plan, we are willing to work with them.
If you’d like to discuss partnering on plans, please contact us. All discussions are confidential, and arrangements are made to ensure that everybody feels valued and comfortable -- especially your clients.