The Ultimate Rollover IRA Leads
I spoke with a friend of mine whom I worked with at
Fidelity yesterday. Evidently they have become even more
aggressive than they were when I worked there.
The people who work in their proactive rollover groups are now
forced to "rollover" $20 million dollars in new rollover per
quarter. The more aggressive reps are rolling $30 million. That's
a LOT of money when you consider the average many advisors manage
$30-$50 million. These reps are moving $30 million per quarter
EVERY quarter. Now when you deal with balances of $100,000 and up
that's a lot of rollovers.
$30 Million / $100,000 = 300 rollover per Quarter
300 Rollovers / 60 Business Days = 5 Rollovers Per day.
I promise you this much. You DO NOT rollover $30 million in 90 days without being very aggressive.
They are going to exploit every single advantage they
possible have to keep the money away from you. That much I can
promise you.
Also, these people are solely making outbound phone calls. One
reason I created the rollover coach material was because I did not
agree with the sales tactics/methods these no-loaders use in
competing with advisors.
If you like this information, then you will love my rollover
course. Visit www.rollovercoach.com to learn more.
I don't think the larger Fortune 100 employers are even aware of
all of the "selling" that goes on behind the scenes. If they were
aware, I doubt they would approve.
Have a great week,
Scott Brooks
www.rollovercoach.com
Sunday, August 19, 2007
Saturday, August 18, 2007
How Does Ed Slott's IRA Training Compare To Rollover Coach?
Ed Slott’s IRA training appears to be more focused on tax rules. I wanted information that advisors could use every single day add new clients to their practice.
Also, I focused my material on the areas which traditional training programs, back office support staff, and wholesalers never cover. My material is not covered because so few people in the industry have my experience of having worked at Fidelity and as an outside advisor.
I wanted to provide financial advisors with tips & strategies they could use in their practice.
Tax laws are great, but more importantly advisors need to know how to compete with Fidelity and Vanguard since they control 80% of the 401K Rollovers for Fortune 500 401k plans.
Personally I believe Ed Slott’s material is great, but tax rules alone don’t bring in assets.
You can know the tax code inside and out, but still get rollover blocked by the likes of Fidelity.
Trust me, I have seen it happen. After all, if you knew everything that went on behind the scenes at Fidelity and Vanguard do you believe it might help you more than knowing a tax rule. YES IT WILL.
If you would like to learn unique strategies to increase rollovers in your practice, request your free report at www.rollovercoach.com
Insurance And Annuiy Leads
Over the past three weeks there I have heard from advisors who have
purchased my Rollover Coach program. I want to personally thank
everyone who helped provide input on the course.
A few advisors suggested that I add a marketing and lead generation
piece of the course. In Fact, one advisor suggested that I "finish"
the program and create seminars and other pieces advisors can
use to generate business.
They have often said that if you borrow ideas from one person, it's
called stealing.....but borrowing from many....then you have done
research. Let's just say I have done lots of research. Six months
ago I went on a lead generation/marketing period where I purchased
Every type of course I can find that might help us as advisors.
After spending several thousand dollars on this education, I wanted
to apply some of the best ideas and maybe help offer this
information to other advisors.
One of the systems I purchased was an interview between Dr. Audri
Lanford and a direct marketing guru. Basically I have taken a
direct marketing program that was used VERY successfully in another
industry and tailored it towards a financial planning practice.
This direct mail program is unlike anything you have seen in the
marketplace today.
It's designed to create leads for
- Fixed Income (CD's, tax free bonds, etc)
- Long Term Care Leads
- Managed Money
- Mutual Fund Reviews
- Annuity leads
- Life Insurance Leads
- Rollover IRA Leads
- Portfolio Reviews
In this one system you will be able to generate leads for all these
types of products. The reason I chose this specific system is that
I believe our prospects are busier than ever and have put their
finances "on the back burner".
Since this is still being beta tested, I am offering a great deal
on the course. For a VERY limited time, I am going to include the
lead generation course FREE to anyone who purchases my course for
full price $297. Yes you get ALL of the rollover information PLUS
the marketing system for free.
If you are an existing client, I am offering an "upgrade for only
$99". Not bad for a turn key marketing program. Other marketing
programs sell for $500-$1500. Crazy IMO.
My overhead is low so I try to give advisors a good value on our
products.
If you are interested just shoot me an e-mail and I can
provide you more information or an invoice if you are ready to
implement this new system in your practice.
www.rollovercoach.com
purchased my Rollover Coach program. I want to personally thank
everyone who helped provide input on the course.
A few advisors suggested that I add a marketing and lead generation
piece of the course. In Fact, one advisor suggested that I "finish"
the program and create seminars and other pieces advisors can
use to generate business.
They have often said that if you borrow ideas from one person, it's
called stealing.....but borrowing from many....then you have done
research. Let's just say I have done lots of research. Six months
ago I went on a lead generation/marketing period where I purchased
Every type of course I can find that might help us as advisors.
After spending several thousand dollars on this education, I wanted
to apply some of the best ideas and maybe help offer this
information to other advisors.
One of the systems I purchased was an interview between Dr. Audri
Lanford and a direct marketing guru. Basically I have taken a
direct marketing program that was used VERY successfully in another
industry and tailored it towards a financial planning practice.
This direct mail program is unlike anything you have seen in the
marketplace today.
It's designed to create leads for
- Fixed Income (CD's, tax free bonds, etc)
- Long Term Care Leads
- Managed Money
- Mutual Fund Reviews
- Annuity leads
- Life Insurance Leads
- Rollover IRA Leads
- Portfolio Reviews
In this one system you will be able to generate leads for all these
types of products. The reason I chose this specific system is that
I believe our prospects are busier than ever and have put their
finances "on the back burner".
Since this is still being beta tested, I am offering a great deal
on the course. For a VERY limited time, I am going to include the
lead generation course FREE to anyone who purchases my course for
full price $297. Yes you get ALL of the rollover information PLUS
the marketing system for free.
If you are an existing client, I am offering an "upgrade for only
$99". Not bad for a turn key marketing program. Other marketing
programs sell for $500-$1500. Crazy IMO.
My overhead is low so I try to give advisors a good value on our
products.
If you are interested just shoot me an e-mail and I can
provide you more information or an invoice if you are ready to
implement this new system in your practice.
www.rollovercoach.com
Friday, August 17, 2007
Postcard Marketing for Financial Advisors
Did you know the average interrogation subject breaks down
after 166 questions? How many questions does it take for your
prospects to become customers? The ugly truth about prospecting
today is this: People are no longer paying attention to your
marketing messages.
We live in an over-marketed over communicated society that makes it
virtually impossible to pay attention to the 3500 or more marketing
message your prospects receive every day.
That's 24,500 per week and 1.27 million per year!
How are you going to get your marketing message to stand
outfrom the other 24,500 your prospects receive every single week?
The lead generation system, currently included with Rollover Coach
is meant to stop your prospects in their tracks. It will force
their hand into action and commands their attention.
The idea behind the course is to give them 15 financial ideas, But
also give them a way you can HELP implement (sell) them. Basically
we are going fishing, and the financial ideas are our bait. Once
the bait is taken, we have a full blown prospect on our hands and
will follow up accordingly.
Many successful college athletic programs use this same method when
recruiting athletes by the way. Repeated contacts, high frequency.
The ideas are delivered via postcard because postcards are the most
inexpensive, effective, and targeted marketing strategies available
today. You can select only the most ideal prospects for your
practice to market to. Why waste money advertising to people you
will never do business with anyway?
Once I get more testing information back, this lead generation
system will be sold separately...for more than the purchase price of
Rollover Coach. If you are considering purchasing my system I
encourage you to do it before I spin off the lead program into its
own product. Get both products for one price today. Prices will
only be going up.
Stand out from other advisors in your area. Be different.
Scott Brooks
www.rollovercoach.com
after 166 questions? How many questions does it take for your
prospects to become customers? The ugly truth about prospecting
today is this: People are no longer paying attention to your
marketing messages.
We live in an over-marketed over communicated society that makes it
virtually impossible to pay attention to the 3500 or more marketing
message your prospects receive every day.
That's 24,500 per week and 1.27 million per year!
How are you going to get your marketing message to stand
outfrom the other 24,500 your prospects receive every single week?
The lead generation system, currently included with Rollover Coach
is meant to stop your prospects in their tracks. It will force
their hand into action and commands their attention.
The idea behind the course is to give them 15 financial ideas, But
also give them a way you can HELP implement (sell) them. Basically
we are going fishing, and the financial ideas are our bait. Once
the bait is taken, we have a full blown prospect on our hands and
will follow up accordingly.
Many successful college athletic programs use this same method when
recruiting athletes by the way. Repeated contacts, high frequency.
The ideas are delivered via postcard because postcards are the most
inexpensive, effective, and targeted marketing strategies available
today. You can select only the most ideal prospects for your
practice to market to. Why waste money advertising to people you
will never do business with anyway?
Once I get more testing information back, this lead generation
system will be sold separately...for more than the purchase price of
Rollover Coach. If you are considering purchasing my system I
encourage you to do it before I spin off the lead program into its
own product. Get both products for one price today. Prices will
only be going up.
Stand out from other advisors in your area. Be different.
Scott Brooks
www.rollovercoach.com
Monday, August 13, 2007
Top 5 Mistakes Advisors Make In Rollover IRA Market
Top 5 Mistakes Financial Advisors Make When Dealing With Rollovers---
Having seen the rollover market from both an advisor and
recordkeeper point of view, I can promise you that the biggest
obstacle advisors face when dealing with larger employers are the
recordkeepers themselves. Fidelity and Vanguard control over 75% of
the 401k Plans for Fortune 1000 employers and are doing their very
best to play keep away from every advisor in the industry.
After all, Fidelity and Vanguard have a lot to lose. They have
several hundred BILLION dollars at stake of leaving their firms and
want to retain the revenue stream from the assets. Therefore, they
are cross selling every product in their arsenal and as well as
giving advice to customers when they retire.
Fidelity and Vanguard have 2 of the most trusted brands in the
financial industry so advisors cannot make any mistakes to compete
against them successfully.
Here are the top 5 mistakes I have seen advisors make:
1. Underestimate the no-load recrodkeepers - They sometimes keep up
to 80% of the money when clients finally roll their retirement
dollars out. This means that EVERY other firm in the industry is
sharing what's left over. Most advisors do not realize this and
don't plan accordingly.
2. Many advisors don't understand how different rollovers are
processed - . For example, I have seen some advisors send in
internal documents to initiate a rollover. This never works and
results in the advisor looking unprofessional. The no-load firms
also use this opportunity to cross sell their services as well.
Advisors need to know exactly what to do and say when they call the
no-loaders because those firms are not going to help them. Having a
game plan is crucial.
3. Using a product vs. a consultative sale - Instead of going
through the "4 options" with a prospect and suggesting a product, I
recommend advisors use a 2 step approach when dealing with
potential rollovers.
Step #1 Learn everything you can about the customers existing 401k
AND the plan itself. By knowing what questions to ask and what to
look for you can uncover several drawbacks to the prospect keeping
the money in their 401k. Many clients are perfectly happy leaving
their money where it is. Therefore, you must give them good reasons
why they should change course.
Step #2 After you have learned everything you can, present your
recommendations. This 2 step consultative process will help you
come across like a true professional and will result in a greater
rollover "batting average."
4. Not properly understanding special tax treatments. - There are
several special tax treatments which you must absolutely know cold
if you are to succeed in the rollover market. I personally believe
advisors rely WAY too much on rule 72T without researching other
ways clients can access money without confining themselves to the
rules of 72T. For example, after-tax money can often be used
instead of 72T. This is another reason why properly researching the
prospects account and the plan itself are so important.
5. Not acting soon enough. - In war, which is what the rollover
space is, I would much rather face an enemy that did not know I was
coming than one who was on full alert. This means that you need to
start planting rollover seeds and helping clients well before they
retire. If you wait until your clients retire, the no-load firms
will be on full alert and be a much bigger obstacle. Use the current
market decline to prompt client a 401k "investment checkup."
Your hoping the US Dollar does not break its trend line Rollover
Coach,
Scott Brooks
www.rollovercoach.com
Having seen the rollover market from both an advisor and
recordkeeper point of view, I can promise you that the biggest
obstacle advisors face when dealing with larger employers are the
recordkeepers themselves. Fidelity and Vanguard control over 75% of
the 401k Plans for Fortune 1000 employers and are doing their very
best to play keep away from every advisor in the industry.
After all, Fidelity and Vanguard have a lot to lose. They have
several hundred BILLION dollars at stake of leaving their firms and
want to retain the revenue stream from the assets. Therefore, they
are cross selling every product in their arsenal and as well as
giving advice to customers when they retire.
Fidelity and Vanguard have 2 of the most trusted brands in the
financial industry so advisors cannot make any mistakes to compete
against them successfully.
Here are the top 5 mistakes I have seen advisors make:
1. Underestimate the no-load recrodkeepers - They sometimes keep up
to 80% of the money when clients finally roll their retirement
dollars out. This means that EVERY other firm in the industry is
sharing what's left over. Most advisors do not realize this and
don't plan accordingly.
2. Many advisors don't understand how different rollovers are
processed - . For example, I have seen some advisors send in
internal documents to initiate a rollover. This never works and
results in the advisor looking unprofessional. The no-load firms
also use this opportunity to cross sell their services as well.
Advisors need to know exactly what to do and say when they call the
no-loaders because those firms are not going to help them. Having a
game plan is crucial.
3. Using a product vs. a consultative sale - Instead of going
through the "4 options" with a prospect and suggesting a product, I
recommend advisors use a 2 step approach when dealing with
potential rollovers.
Step #1 Learn everything you can about the customers existing 401k
AND the plan itself. By knowing what questions to ask and what to
look for you can uncover several drawbacks to the prospect keeping
the money in their 401k. Many clients are perfectly happy leaving
their money where it is. Therefore, you must give them good reasons
why they should change course.
Step #2 After you have learned everything you can, present your
recommendations. This 2 step consultative process will help you
come across like a true professional and will result in a greater
rollover "batting average."
4. Not properly understanding special tax treatments. - There are
several special tax treatments which you must absolutely know cold
if you are to succeed in the rollover market. I personally believe
advisors rely WAY too much on rule 72T without researching other
ways clients can access money without confining themselves to the
rules of 72T. For example, after-tax money can often be used
instead of 72T. This is another reason why properly researching the
prospects account and the plan itself are so important.
5. Not acting soon enough. - In war, which is what the rollover
space is, I would much rather face an enemy that did not know I was
coming than one who was on full alert. This means that you need to
start planting rollover seeds and helping clients well before they
retire. If you wait until your clients retire, the no-load firms
will be on full alert and be a much bigger obstacle. Use the current
market decline to prompt client a 401k "investment checkup."
Your hoping the US Dollar does not break its trend line Rollover
Coach,
Scott Brooks
www.rollovercoach.com
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