Together with providers and wholesalers, we’re a team with one objective:
to serve clients.

There are three types of 401(k) providers: full service (or bundled), third-party administrators and investment-only providers. Wholesalers are the first and most frequent point of contact in new advisor/provider relationships. Internal wholesalers provide additional support after a financial advisor begins working with a retirement plan provider.

Of course, financial advisors can’t do everything themselves. They need support to leverage the 401(k) providers’ resources: the education (print, online, video, webinar, PowerPoint and in-person), the expertise, the technical advice and the targeted education programs (advisor, plan sponsor and participant). In addition, advisors must leverage the 401(k) providers’ experiences with financial advisors who focus on 401(k) plans. At the same time, providers know which resources advisors prefer and are using most frequently. They have plenty of ideas on how to best leverage a relationship with them.

The key for financial advisors is to ask. 401(k) providers continually assist advisors and they understand that advisors have different levels of knowledge and experience. So, financial advisors just need to tell providers’ wholesalers:

• what they’re doing now
• what they want to do
• what they need help with, and so on.

Retirement plan providers have the resources to offer – and that’s where financial advisors can leverage 401(k) Rekon™. They can discover what’s unique about each 401(k) provider: how they help advisors, what their best resources are, and what educational resources are available from them.

Examples:

Product Overview Brochure, from Mutual of Omaha, is a 6-page brochure providing a high-level overview of retirement plan products and services.

The Great West Retirement Services 401(k) Solution, from Great West, is a 14-page brochure outlining the capabilities of Great West and the power of partnering.