As unemployment claims surge to a record high, an opportunity opens as a financial advisor to capture 401(k) rollovers.
Professionals affected by COVID-19 need help to navigate the transition financially. One of the most important decisions anyone facing after layoff involves their 401(k). Now is the time call and provide guidance. Here a few top tips and tools in the Total Practice Management platform to utilize to capture this opportunity into your book of business.
GET ON THE PHONE – You know what industries are hurt by this pandemic. Reach out to the communities affected and let them know you are here to help. It is as simple as picking up the phone and making calls. RingCentral is integrated into our Total Practice Management‘s CRM making it quick and easy to call any client or lead.
COMMUNICATE – Don’t let the fear of the unknown keep potential clients from acting. Engage with them and ask questions to fully understand their situation. Provide examples on how you have addressed this before and as a fiduciary you will act in their best interest. Send a personalized email to multiple recipients in our email module with just a few clicks.
STRATEGIZE – Explore strategies with the clients to reach their 401(k) goal. If the client has more than two years until retirement, it’s long-term in nature giving time for stocks to bounce back from the market dips and downturns. Once a client is within one or two years of retirement, it is time to take a more cautious approach and shift to safe-haven assets amid volatility. Utilize our Analytics module and focus on a particular client to look for trends and opportunities.
SHOW YOUR VALUE – Showcase your skills and experiences and take action. Give them a peace of mind by answering questions along the process. Share your experiences in bear markets if you have them and you have a succession plan in place. Give them instant access to their portfolio through the customizable client portal.
POUR LIBATIONS – Well-deserved after helping a client during a time of crisis and growing your book of business. No drink service is included with Total Practice Management unfortunately but we’re working on it.