Some administrative duties occur once a year, usually on the plan's anniversary date. Here, too, the financial professional plays an important role in facilitating the exchange of information between the plan trustee and the service administrator.
In addition, financial professionals should review the retirement plan design and the portfolio options on at least an annual basis to make sure it is still a match for the plan sponsor's needs. Since the annual plan review involves the businessowners, these meetings present a good opportunity to review their total employee benefit package and evaluate any other needs that you may be able to meet for them. For example, as the relationship develops, financial professionals may have the opportunity to cross over to the businessowner's personal insurance needs.
Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.