Tania Brown, CFP® learned how to define her value proposition at The 401k Coach Year 1 Program, which she describes as "awesome." Although initially hesitant about participating in an exercise to define her value, "because it's been overdone in the industry," Tania says that Charlie's process in creating a value proposition has enabled her to win business and keep business. "I know that I kept one specific client, because of the class. Now I can articulate the firm value, the group value and my value," she says after quickly espousing an impressive statement that differentiates her from competitors. "You have to know your value to succeed," she concludes.

Not only are value propositions beneficial for current and prospective clients, but also for vendor partners. Tania has been able to team up with retirement plan vendors by explaining her differentiating value. In one instance the vendor referred her to a prospect, which she quickly converted to a client before the vendor had been hired, which surprised both of them.

In addition to creating her value proposition at the Year 1 Program, Tania learned the importance of a service statement. "Before the Year 1 Program," she says, "I didn't use a service statement." As a written process on what a client can expect from Tania and her group, the service statement is critical. In the Program, Charlie's process helped Tania develop a clear map on what services she'll provide. "Now I find that prospects are very impressed with the service statement."

When she returned from the session in April, her partner at the Hamilton Brown Group, part of Morgan Stanley Smith Barney, said, "You're a new woman." Agreeing, Tania points to the focus and direction that she now has. Targeting

401(k)'s for only a year and a half, Tania credits The 401k Coach Year 1 Program for the systems and processes that changed the way she approaches business.

Dennis Packard and Brian Puckett had one goal in mind when they formed their Oklahoma City firm, Align Wealth Management, 20 years ago - help individuals manage their wealth. With $130 million in assets under management for individuals, the team decided to expand their services to include companies and their 401(k) plans.

But where can you learn how to market to 401(k) plans? When Dennis and Brian looked around they found The 401k Coach Year 1 Program - an educational curriculum with four sessions over a six-month period. The first two were back-to-back days in Chicago, then a webcast and a final day in Chicago.

"We got a lot of information about 401(k)s," says Dennis. "It was amazing; Charlie does a great job." Dennis goes on to point out that now the firm has 401(k) plan clients. "We used the information right away," adds Brian. "In fact, the next prospect that we spoke with, we landed as a client." Dennis and Brian have added four 401(k) plans since they attended the 2011 Year 1 Program. 

Plan Cost Breakdown Impresses Prospects 

One of the more impactful lessons was about fiduciary responsibility. While Dennis and Brian viewed the information as a differentiator when talking with people, they found that conversations about how to monitor plan investments and breakdown costs were what impressed prospects. "That information has helped more than anything," says Dennis. "Companies don't know about costs, but they want to know and they don't know how to find out." Also beneficial, Dennis and Brian learned about vendors and their technology and how to use the data to convert prospects to clients.

Year 1 Program for 2012 kicks off on April 26 and 27th in Chicago For more information or registration details click here.

If you sign up now, you'll receive $750 off with our Early Registration discount (or even more if you're a Boot Camp attendee!).

A Mutual of Omaha retirement products wholesaler with over 25 years in financial services, Joe Gibson and other Mutual of Omaha wholesalers co-hosted The 401k Coach Boot Camp in South Carolina at the end of March. Over 50 advisors attended including more than 20 from Joe's territory. "I received very positive feedback from the advisors," he says. "But the biggest thing I discovered is that advisors have an interest in learning about retirement plans and they don't know where to get the information."

Study Group Helps Financial Advisors 

One advisor told Joe that he needed someone to help him stay on track and he also would like a better understanding of 401(k) plans, so he could focus on their sales. As a result, Joe started a study group, which had their organizational meeting in July. "We decided to read the book 'Mirror Mirror On the Wall: Am I the Most Valued of Them All?' which Charlie talked about at the Boot Camp," continues Joe. The study group meets in-person every two months at someone's office. Upcoming discussion topics include book chapters and prospect interviewing techniques.

With a limit of only seven or eight members, the current group has five people, three of whom have attended The 401k Coach Boot Camp and one who is signing up for the next one in the region.

Lessons Learned in Boot Camp - 5500 Expertise 

Although Joe was very familiar with how to read 5500s, especially since he was in production for nearly a decade, he says, "Charlie's explanations of how to use the 5500s in prospecting were very helpful. I saw a lot opportunities to use the information in meetings with prospects."

Joe is looking forward to the next 401k Coach Boot Camp in his area and possibly launching another study group.