Sales Process Development

The Sales Process Development station explores all topics that impact a retirement plan consultant’s ability to find and win new plan sponsor business. Topics addressed start with the first steps of prospect data collection, best prospecting strategies, understanding sales psychology and conducting impactful presentations that resonate with potential new clients. It also examines how to incorporate your brand, marketing strategy and sales process in order to create a cohesive strategy that better expresses a retirement practice’s overall value proposition and helps achieve practice growth objectives.

By Fred Barstein6/20/2014 • 0 Comments

Remember when the Internet promised to do everything from clean your teeth to provide high-quality leads that cost very little? Well, the reality is a bit more sobering, but there are a number of online referral services to choose from, as outlined in a recent FAIQ article. Various services are profiled, mainly for individual investor leads, ranging from a take-off on to one that helps advisors get articles placed in the press, and a new one by a former FA called “FireMyAdvisor.”


By Ray Harmon11/21/2013 • 0 Comments

A new study from the Insured Retirement Institute (IRI) looks at the changing retirement strategies of same-gender couples in the wake of the Supreme Court’s Windsor decision earlier this year. That decision led to the IRS and DOL adopting a uniform definition of “spouse” that includes legally married, same-gender couples, regardless of their current state of residence — effectively expanding pension rights for millions nationwide. READ MORE

By Rick Meigs11/21/2013 • 0 Comments

Many of us are not "natural" sales people — we toil away at the process. We can respond to an RFP and get in front of a plan committee, but aren't sure how to improve our success rate at closing the deal. READ MORE

By Jennifer McKibben11/12/2013 • 0 Comments

Small businesses represent more than 99% of all companies in America — and yet nearly 72% of small business employees do not have access to a retirement plan. An upcoming webcast hosted by NAPA and ADP — featuring John Carl of the Columbia Learning Center — will demonstrate how advisors can best support small business owners. READ MORE

By Fred Barstein9/3/2013 • 0 Comments

September marks the start of the heavy DC plan selling season. Advisors’ chief concern: Plan sponsors will delay making a decision, for myriad reasons. Though it’s easier to get an AOR change than it is to switch record keepers, any type of decision can cause some plans to delay unless there’s a lot of pain involved. The reasons for delay are heightened during tumultuous times, when other decisions seem more crucial — like the recent financial crisis, for example — or during really good markets when making a change seems unnecessary. READ MORE

By Marcus Chandler8/26/2013 • 1 Comments

Presenting metrics and capabilities as your value proposition requires salesmanship. But selling a concept such as your ability to utilize those tools to improve outcomes is an art form. READ MORE

By Fred Barstein8/26/2013 • 0 Comments

Centers of influence like CPAs, bankers, attorneys or even other advisors that don’t service DC plans can be the greatest source of leads for a plan advisor. But creating a network of COIs is hard and takes time. A Wall Street Journal article offers a list of common mistakes and suggested solutions. READ MORE

By Rick Meigs8/20/2013 • 0 Comments

Ryan Schutty, a regional marketing director with the Principal Financial Group, wrote an interesting blog post last week on how cold calling doesn’t have to be so cold. He notes that when it comes to cold calling, a good way to "warm" it up is by thinking horizontally. READ MORE

By Marcus Chandler6/7/2013 • 0 Comments

To understand just how big the opportunity to leverage fee disclosure regulations as a door opener to new prospects still is — and will be for years to come — let’s first look at the numbers. READ MORE

By Marcus Chandler5/7/2013 • 0 Comments

The fundamental difference between a needs-based sales approach and a consultative sales approach is that the “need” is not discovered… it is created! To do this effectively, your outreach to prospects must be issue- or agenda-driven rather than needs-oriented. READ MORE

By Marcus Chandler4/10/2013 • 0 Comments

A recent NAPA Net post, “Is Cold Calling Dead?” seemed to answer that question affirmatively, noting that “plans are getting bombarded by sales calls and the level of sophistication of the sponsor and the advisor, especially as you move up market, is growing.” READ MORE

By Marcus Chandler3/14/2013 • 0 Comments

I believe it’s a given that most retirement advisors looking to expand their business will tap obvious centers of influence — a business development staple. In my discussions with advisors, however, I find that association marketing is an underplayed card that with a little imagination and research, can lead to very green plan prospecting pastures. READ MORE

By Marcus Chandler2/14/2013 • 0 Comments

There are few certainties when it comes to prospecting for new plan business, but one of them universally holds true: If you can’t reach and speak with the decision maker(s) responsible for managing an employer’s retirement plan, you can’t win their business. Often, in the pure cold-calling, prospecting stage, the one obstacle standing in your way is the dreaded “gatekeeper.” READ MORE

By NAPA Net Staff2/12/2013 • 0 Comments

In the latest in a series of posts by speakers at the 2013 NAPA/ASPPA Summit, March 3-5, 2013 in Las Vegas, Joshua Dietch of Chatham Partners and Yaqub Ahmed of Franklin Templeton Investments share six conclusions from a year’s worth of interviews with plan sponsors about what retirement advisors did well and where they could improve in developing new business. READ MORE

By Marcus Chandler1/25/2013 • 4 Comments

The start of the new year is a good time to reevaluate our business development strategy and retool to expand on what has worked well in the past or make adjustments to improve on disappointing results. The primary challenge for many practices is universal: How to identify and get in front of new prospects. READ MORE