Red Flag Reports Pushing Prospects Away?

Uncategorized Aug 05, 2021

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Andy Hudson here with  

Talking about red flags last week with an Advisor, how do you use red flags in your business and avoid pushing your 401k prospects away and make it more likely that you're going to pull them towards you building trust relationship and all those types of things.

Generically, the trend seems to be that Advisors are using the red flags in conjunction with a cold call or an email letting that plan sponsor know that there's an issue/s with the plan.  

Most Advisors are well meaning and want to help.  But based on the reactions of PS, it's not received well, likely pushing your prospect away, not drawing them closer, building trust, a relationship, etc.  

Is there a way you can use Flags to draw prospects to you?  

The other way to do use the red flags in your practice where you're pulling those prospects towards you is going to be when that plan has a triggering event. and they're in the process of evaluating the plan to change providers.  Every year, 8% of plans are evaluating their plan to change providers.  

Until this happens, use the red flags to identify some areas you can ask questions around, give perspective and add value.  

When they are ready to move, offer the reports for perspective against other plans and navigating the decisions they need to navigate to make a move.  

Are you using red flags in your 401k prospecting?  

Reach out to me on LinedIn, I'd love to hear how your 401(k) Advisory business is doing.  


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