Surefire 401K Rollover Strategies no one is telling you about

By, Scott J. Brooks, CFP®, Director of www.rollovercoach.com

2008 will be a great year to prospect for rollover business.  One thing I have learned, is that fear is a much bigger motivator than greed. This year, the investing markets are down considerably from their Peak last year. The stock market is falling and client statements are going down.  Home prices are falling while bare necessities like food and energy and going up. Fear is increasing. These are all positive development for a financial advisor.

I think recessions are perfect times to prospect for 401k rollover business for the following reasons:

1. As companies earnings slow down, companies are more likely to “downsize” and create layoffs. This will allow you to get your foot in the door for new business.
2. Clients are seeing their statements go down. In general, clients are much more willing to seek out professional help when times are tough.
3. Interest rates are headed down. Low cd and savings rates will have prospects hungry for alternatives.
4. Attendance rates for seminars and other types of marketing should go up recessionary periods

Some of the technicians I follow believe that if the Dow and S&P break below our January lows, we could see another 15-20% decline in the market.  The 401K rollover market is screaming with opportunity over the next 12-18 months.

I suggest advisors make a list of the larger employers in your area.  The next step would be to learn as much as possible about the 401K and pension plans offered.  Advisors will want to dig deep and identify the key weaknesses of the benefit packages.  Clients love dealing with specialists and someone that has worked with others in their situation.

Over the next few years the 401K rollover market is going to peak out. Let’s capture our unfair share before its too late!

Scott Brooks, CFP®
“Helping Advsors Attract & Convert Rollovers”
http://www.rollovercoach.com

Scott Brooks, MBA, CFP® helps advisors attract and convert rollover business. He is the creator of the Rollover Coach program which is a 3 hour Audio CD based training program which gives advisors everything they need to know to take their rollover business to the next level. His material is unique because he has spent 5 years as a retail financial advisor but also spent 4.5 years working at Fidelity Investments where he specialized in the rollover market for Fortune 1000 employers. Having seen both sides of the rollover game, he has the knowledge and experience to take advisors business to the next level. A sample of his Rollover Coach training is available at http://www.rollovercoach.com