Do you know what your greatest asset is? Do you know what your greatest asset is?
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April/May 2013 - In This Issue:
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COMING NOVEMBER 2013
For financial professionals who understand the power of
BIG IDEA THINKING
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Time! It's your Greatest Asset.
By Charlie Epstein
What if I told you that you were letting too much of this precious asset go to waste?
It's true. The majority of financial advisors are mismanaging this valuable resource, especially when it comes to building and scaling their business.
I know this not only from personal experience, but from speaking with many other advisors who feel stuck or entangled at a certain level of success.
In a recent discussion with an advisor who registered for our Year One Program, we focused just on how he spends his time. One of the things he does, first thing in the morning, is read the correspondences that go out to his clients from providers, record-keepers, CPA's, etc. He feels it is important to know what's going on with his clients and to get ahead of any problems. So, in anticipation of something being wrong, he was getting up at 4:30 in the morning and reading his clients' mail. I asked him, "Is this the best use of your time?" After some silence, he answered that it was not the best use of his time, but it was important.
There are many things that are important to a successful business. Knowing what are the critical responsibilities you take on, how to delegate the rest and prioritize time around money-producing activities is more than half your battle.
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The 401k Coach
joins with 401k Safe
FREE WEBINAR
The 401(k) Retirement Plan Success Formula Blueprint For Advisors
Tuesday, May 7th 2013
1:00 pm EDT
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Charlie Extends Campaign to Help Local Children's Center
Not only have purchases of Paychecks for Life been helping the mission to better financial literacy among the American workforce, but 50% of proceeds have been going to Square One, a local non-profit children's center. Please watch our video to learn more:
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PAYCHECKS FOR LIFE HELPS SQUARE ONE PROVIDE
EDUCATIONS FOR LIFE
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The charitable campaign set to expire at the end of April has been extended to the end of May!
Visit The 401k Coach Store to order your copy of Paychecks for Life or call; (877) 932-6236 x3 to inquire about our custom and bulk order options. |
The Power of Paychecks for Life
We recently received an order for 60 books from California. Curious that the shipping address was to a FedEx facility, we reached out to the individual who placed the order. In fact, the order was placed by a manager of a FedEx distribution facility. He had been doing some research on books to help engage his employees to save for retirement and participate in the company 401(k) plan. As he perused Amazon.com, he came across Paychecks for Life and was immediately taken in by its title. After reading a copy, he was impressed by it's simplicity but the power it had in getting such an important message across and driving implementation. This FedEx facility is handing out the book to all eligible employees. They had 90% participation this last round and plan on continuing to purchase and use the book to add value for their employees and impact their retirement saving behavior.
Given the adversity our industry is currently facing, we encourage you to help in the pursuit of saving the 401(k) and America's chance at successful retirement outcomes. The power of Paychecks for Life and teaching of its nine principles will make an impact. We encourage you to share it with plan sponsors and participants. Our job as advisors has always been to facilitate "Paychecks for Life" and now, more than ever, is our time to prove it.
Visit The 401k Coach Store to order your copy of Paychecks for Life or call; (877) 932-6236 x3 to inquire about our custom and bulk order options. |
YEAR 1 PROGRAM
(Chicago)
Beginning December 5-6, 2013
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Calling All Coach Alumni!
Our industry is ever evolving, and so are our Programs! Why not Refresh
your Clarity, Confidence and Capabilities? We would like to invite you and anyone else from your firm to attend a 2013 Year 1 Program. Call us for your special pricing:
(877) 932-6236
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 Target Date Funds Update By Marcia Wagner On February 28, 2013, the DOL fulfilled its commitment to assist plan fiduciaries in obtaining and evaluating relevant information when selecting and monitoring target date funds ("TDF"s) by publishing a series of tips on "What to Remember When Choosing Target Date Funds." These tips suggest that the starting point for comparing and selecting a TDF should be consideration of the fund's prospectus which would include its historical performance as well as fee and expense information. Other characteristics of a particular TDF revealed in its prospectus, most obviously its target date, glidepath and the point at which it reaches its most conservative asset allocation (the "landing point"), would enable the plan fiduciary to determine how well the investment aligns with the plan's objectives, thereby enabling the fiduciary to meet its duties under ERISA.
Since plan sponsors typically lack expertise with TDFs and have exposure to liability for investment losses if they make an imprudent choice, advisors can provide valuable service by helping plan sponsors in identifying these objectives. These may range from preservation of savings to maximizing the investment potential of every dollar contributed to the plan, with stable retirement spending representing an intermediate goal. An advisor should ensure that the TDF's glidepath and allocation of assets across the selected asset classes are consistent with these objectives and that they are effectively implemented through appropriate investment styles and forms of investment to achieve the best outcome.
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Is It Time for a Website Checkup?
By Sheri Fitts
When was the last time you lifted the hood on your website?
As recently as just a few years ago, advisors were able to get by with a very minimalist website with a logo, a bio, a photo and perhaps a map to your office. For many, that kind of simple brochure-ware met their online needs.
Times have changed.
Today, advisors need more than a bio page and a contact us form. Today's prospects and clients are using your web presence as an indicator of how effective you are in conducting your business. More and more customers indicate that the advisor's website plays a role in the final decision around whether or not they will do business with you.
We've assembled the top five mistakes Advisors are making when it comes to their website. How does your website measure up?
Mistake #1: Too Much Jargon
The funniest part about mistake number one is that every advisor agrees that they shouldn't use industry jargon with their clients and then find that they don't even realize they are using it over and over again.
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Vizibility
By DJ Ware
Purpose/Usefulness:
Business cards have been a standard for hundreds of years and they haven't seen many improvements besides cosmetics - until now. Vizibility is a company that is revolutionizing the business card and bringing it up to modern day standards. This online business card allows you to share your business card through a variety of ways - Email, Social Media, and even assign a special QR code to your account and add it to your existing business cards. When clicked, the person will see everything from your contact information, photo, and company, to your LinkedIn profile, personalized message, and more! The best part is that it offers real-time tracking! You can manage on the backend of the website who has clicked your link, from where they clicked it, and from what device, so you could actually improve your leads by following up this way. The possibilities are endless.
Easier, Faster, Cheaper, Bigger:
This will make it easier for you to get your information to the masses and its mobile friendly so anyone, anywhere, can see it. It's free, easy to use, and can create big opportunities for you if used correctly.
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 Getting Your Name in the Media
by Barbara Lewis
Authoring articles that appear in industry or consumer publications is an excellent public relations technique to promote your firm to potential clients and referral sources. By-lined articles can be used as a client development tool. Generally, articles run about 800 to 1,200 words, depending upon the publication. The article can be reprinted and given to potential clients and referral sources. Articles can be included in the material that you hand out with your brochure and on your web site. Any speeches that you make should be converted into articles for publication. Since tape-recording a speech and transcribing it into an article requires relatively little work, this is a cost-effective public relations tool for you.The speeches can also be used for your e-newsletter articles.
One of the fastest ways to write an article is to use a tool, such as Dragon Naturally Speaking, which I have used for years.
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The 401k Coach Program
Impacting the Success, Satisfaction
and Significance of the Retirement Plan Industry
(877) 932-6236
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