Year 1 Program Kicks Off Soon!
 REGISTER NOW ($250 DISCOUNT) 

The 401k Coach Year 1 Program is set to begin on April 7th and 8th. Sessions will take place in Chicago. We recently held a webcast to discuss how Year 1 can increase your clarity, confidence and capabilities in the 401k marketplace. REPLAY WEBCAST

The 10 Critical Components taught in Year 1 will assist you in building and growing an efficient retirement plan pratice. Learn how to stay out of the commoditization trap and start delivering unique experiences to your prospects and clients.

Testimonials from Raving Fans 

Brad Pinter, President of Global Retirement Plan Group, financial advisors located in Chicago, was so enthralled with the Year 1 program that he signed up for Year 2. He describes the Year 1 Program: "It was great and very valuable from a growth perspective. Up until enrolling in the Year 1 Program, I had accumulated plans, but had no systems in place. Year 1 let me take my business to the next level."
 
Bud Nackers, a Partner at Investment Designers, describes his Year 1 experience: "I came away with a lot of templates to help automate prospecting and processes. Charlie showed us how to implement those processes, which helps me stand out from the crowd."
 

Listen to other Year 1 attendees talk about their experience: VIEW VIDEO 

We hope to help create many more success stories in 2011! Register Now and receive a $250 discount

The Duty to Ask... The Duty to Tell

Two important fiduciary issues, the Duty of Loyalty and the Duty of Prudence, were highlighted in the July 2010 court case, Tibble v Edison International. The Duty of Loyalty means that fiduciaries must act in the best interests of the plan, its participants and their beneficiaries.

In the Tibble v Edison case, the plaintiffs claimed that Edison breached their duty of loyalty to their employees by selecting retail mutual funds that provided revenue sharing arrangements, but charged higher fees to the plan participants than other lower cost institutional funds. The plaintiffs argued that the institutional funds were of "mirror quality," i.e. had the same investment performance. The judge found no evidence that the members of the investment staff were motivated by revenue sharing when making fund recommendations.

The concept of a Duty of Prudence, under ERISA section 404(a)(1), states that a fiduciaries shall discharge their duties "with the care, skill, prudence, and diligence under the same circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of alike character and with like aims." Prudence "is measured according to the objective prudent person standard developed in the common law of trusts." The standard is not of a common layperson; rather that of a prudent fiduciary with experience dealing with a similar enterprise.

There are two general components of ERISA prudence:

1.      "Procedural Prudence" focuses on the conduct of the fiduciaries when making the investment decision and not on the resulting performance of the investment. In this case the "process" used to investigate and evaluate the investment is the key.

2.      "Substantive Prudence" if the court finds that a fiduciary failed to investigate a particular investment adequately, "the court must examine whether, in light of the facts that an adequate and thorough investigation would have revealed the investment was objectively prudent."

The court examined "whether the fiduciaries engaged in a thorough investigation of the merits of the investment at the time the retail funds were added to the plan," and concluded that they did not...

Click here to read the full article, which includes ideas for your ERISA prudence checklist.

The 401k Coach CPA Survival Kit   

During tax season, it can be nearly impossible to get the attention of CPAs. A way to create "Top of Mind Awareness" in a friendly and fun way is by using The 401k Coach CPA Survival/Revival Kit.

Kelli Smith, an Account Executive with the TPA firm of Compensation Systems, found Year 1 "eye opening with materials to differentiate us from competitors." One of those materials was a marketing piece for CPAs to be used during tax season. The CPA Survival Kit offers comprehensive tips on how to market to CPAs. "We used the CPA Survival Kit last year and targeted 31 CPAs," describes Kelli. "We followed-up after tax season and the response was very positive. They were very willing to meet and talk. We got a number of clients as a result."

Get instructions on CPA Survival/Revival Kit here.

Your CPA gift can be creatively wrapped in a hat box, an accordion file keeper or toolbox and should include a card from your company.

Nearly half of all entrepreneurs, business owners and professionals said that they turn to their CPAs before making a financial decision. This is why it is important to build a relationship with your CPA.   

As with all our products, 401k Coach members receive a special rate. Be sure to look at our other helpful products:

Department of Labor Seminar Kit ™ helps teach you how to conduct a seminar with the Department of Labor for your clients and prospects.

The Problem Solver™ was created to support you and your team to overcome the problems that may inhibit your company from achieving your vision and goals.

The 401k Coach ERISA Plan Fiduciary Indemnification System offers complete protection for ERISA plan fiduciaries.

Take Your Business to the Next Level

Don't delay in creating a more successful 401(k) practice for yourself. Speak to a 401k Coach member to learn more about the tools, systems and processes we provide that help you bring your business to the next level.

Toll Free: (877)932-6236 x7

info@The401kCoach.com