The 401k Coach Member Center
Gets A Face-Lift

Many of you may have already noticed this week that the 401k Coach Member Center has a new look and navigation. There are many new features and resources available including a member forum. We encourage all our members to use the forum to ask questions and share ideas. During this initial launch period we will be updating the site with new documents and reorganizing the online tools section to be more user-friendly. Please contact us if you have any questions or need assistance with any of our materials.

If you are interested in obtaining a 401k Coach membership or re-instating your membership, please contact Marie Forest in member services at (877) 932-6236.

401k Coach Edu-tainment Product Generates Clients

Previously, Victor Simon's enrollment and education meetings were done in an ad hoc manner. But once he attended Mutual of Omaha's 401k Coach Boot Camp in Baltimore, he was ready to tackle the meetings with the goal of generating additional business. According to Charlie, for every $1 in the 401(k) plan, there are $7 additional dollars that may be available through individual asset management.

Armed with The 401k Coach Edu-tainment product, which includes a six step innovative process for meetings, a training DVD and a 72-slide PPT employee presentation, Victor spoke to about eight people with 2 more on the phone - just the right number to get his feet wet with his new process. "The Edu-tainment meeting went much better than previous meetings," he says. As a result, he was able to pick up two of the three owners as clients and several employees. So not only does he have the business as a client, but now he has most of the owners and employees as individual clients.

Victor, the founder of LifeTime WealthCare based in Severna, Maryland, works mostly with individuals. However, after the Boot Camp and the success that he had with The 401k Coach Edu-tainment product, he's now focused on business retirement plans as well.

*If you previously purchased the The 401k Coach Edu-tainment Experience, we now have a customizable powerpoint available as part of the kit. Please contact us, if it was not originally included and we will get it to you at no charge.

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401k Coach Member Spotlight  

Until he attended the Mutual of Omaha South Carolina Boot Camp in March 2011, Curtis Neuman had never sold a 401(k) plan. "I drove 10 hours from Ocala, Florida," he says, "because I decided to make a conscious effort to focus on 401(k) plans." For nearly 30 years, Curtis had worked with individuals and some business owners in the firm he founded, Financial Security Group. "When I decided to jump in with both feet, I talked to Mutual of Omaha and they told me about the upcoming 401k Coach Boot Camp in South Carolina."

Although he felt slightly overwhelmed when he left the Boot Camp, he adopted The 401k Coach philosophy of prospecting where your feet are. Curtis began to talk with business owners, asking them pertinent questions he learned in the Boot Camp. Within a month, he sold his first 401(k) plan with assets of a half million dollars.

Within five months, he was ready to close three others: another plan with a half million dollars in assets, a third with $3 million in assets and one with $30 million. None of the four were existing clients.

"The 401k Coach Boot Camp gave me all the tools to be successful," he concludes.

 

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When Jay Luber attended The 401k Coach Boot Camp, he agreed with Charlie Epstein's technique of asking specific questions that uncover opportunities to demonstrate knowledge and expertise. Jay, a Senior Consultant with Benefits Planning, Inc. (BPI), a consulting TPA firm in Marina del Rey, California, has worked in the industry since 1981 helping CPAs and financial advisors. The BPI office is part of United Retirement Plan Consultants. 

"Oftentimes, I find that advisors feel they need to do most of the talking in a prospect meeting," he says. "Instead of presenting facts, advisors can learn so much by posing questions just like a physician diagnosing an ailment." Jay has developed a long list of questions that advisors can use to identify potential plan issues and discover areas for improved results.

"Most advisors ask some questions, but would benefit in developing a more significant list," he continues. "By asking great questions- questions that get the client thinking about their situation and where they want to be- advisors can create better and deeper relationships with their clients, who will see the them as a valuable resource." The reaction that Jay receives when he shares his query methodology with advisors is one of surprise. "They tell me that they are not asking their prospects or clients these types of questions."

While Jay admits that there is a certain amount of stress in asking questions up front and getting answers, it's well worth the time and effort it takes to develop thorough, insightful questions. "The value is in the question," he concludes.

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