Selling Beyond the 401(k): Three Tandem Plan Types to Help Employers Meet Evolving Needs
Financial Advisor News | Winter 2023
Did you know 94% of employers offer a 401(k) plan? Perhaps that's not surprising—they are one of the most popular vehicles for retirement savings. Yet as businesses face market volatility and intense competition for talent, many of them could be good candidates for other, sophisticated retirement plan solutions.
In a competitive financial advisory marketplace, you can't afford to wait for clients to ask about alternatives. Approach your small business clients now to explore their business, tax, and retirement planning needs—and proactively recommend options beyond their 401(k) plan. You'll build long-term relationships, produce happier clients, and fend off competitors, all while growing your bottom line.
There are many alternative plan types, but let’s look at three that could expand possibilities for your clients and prospects.