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Over the years we have developed an extensive database of 401K plan menus and the contact information for executives that work at the plan sponsor. By combining this information with our Portfolio Crash Testing (PCT) tool, you have a powerful prospecting platform that gives you the ability to tailor a unique pitch. Here’s how it works: For most advisors, winning new business is one of their toughest jobs. With an estimated 250,000 advisors prospecting the same leads that you are, it can be difficult to stand out from the pack. So how can you start a conversation that helps you differentiate your value proposition from other advisors? At Larkspur-Rixtrema we...

Daniel Satchkov

17 Sep 2018

15 Weekly Stats: Week of September 17, 2018

Matt Meyer and Michael Robinson are founders of The BluePrint Insurance Services. Their mission is to be the premier insurance partner for RIAs and comprehensive financial advisors. The BluePrint provides an operational insurance platform that allows our partners to provide the highest level of insurance access and support. We feature weekly update with permission: Contact information for The BluePrint Insurance Services: Matt Meyer Co-Founder 424.387.4143 MMeyer@tblueprint.com Michael Robinson Co-Founder 619.404.3038 MRobinson@tblueprint.com Site: https://www.tblueprint.com

Daniel Satchkov

17 Sep 2018

Building and Managing Your Retirement Plan Pipeline

One analogy I often use is that a qualified plan database (or any prospecting database) is like a gym membership. You can get all sorts of benefits from it, but in order for that to happen, you have to put it to good use. We all start the year with good intentions, but it’s easy to slip back into old habits. I was talking to one of our customers about this recently. As a top producer with many years of experience, he agreed that breaking into the qualified plan business doesn’t have to be a full-time job. In fact, you can get started by just dedicating a few minutes a...

Daniel Satchkov

17 Sep 2018

6 Best Practices For Reaching a Busy Plan Sponsor

We at Larkspur-RiXtrema know how difficult it can be to keep up in the retirement plan space. There are so many wasteful plans out there, and it can seem easy to reach out to these plan sponsors to point out these flaws to them. However, even with powerful quantitative tools at your disposal, the plan sponsors might still be hesitant to take your call and listen. At Larkspur-RiXtrema, we have built our software, 401kFiduciaryOptimizer, to help you do just that, but we also know that there is a bit more to the process when it comes to reaching out to these plan sponsors. We’ve put together a few strategies to consider when...

Daniel Satchkov

14 Sep 2018

How to Safely Approach Online Reputation and Review Platforms as a Financial Advisor

Online business reputation and customer reviews have become a significant part of social media and various online platforms while rating everything from restaurants to products and even financial services. According to a recent article in Morningstar: “business owners are faced with the challenge of how to effectively manage their business’s reputation online”. More importantly, the article juxtaposes the growing customer review trends in relation to the regulations set forth for financial advisors. Let’s take a look at a few key points that advisors need to be aware of in order to avoid fines and lawsuits. The Rule as a foundation The Rule 206(4)-1 of the Investment Advisers Act of 1940 does not...