Web Tools Aid 401(k) Sales, Due Diligence

The Enron collapse and subsequent focus on 401(k) advisory services is prompting a boom in online resources that could help advisers build sales and improve due diligence.

"Plan sponsors are relying more heavily on their advisers to conduct due diligence and provide sound counsel," observes Eric Schneeman, head of PlanAnalytics, Search401k's parent firm. "Ultimately, we believe advisers who are well versed in the 401(k) marketplace will be able to sell more plans and build their business."

The information and tools fall into three categories: Industry Information, with content on news and trends; Retirement Plan Design, for a sample Provider Policy Statement and outlines of SIMPLE for SEP plans; and 401(k) Prospecting & Sales, with prospecting letters, research, commission calculations and information on sponsor buying habits.

Among the additions, Search401k, proprietor of a platform for communication between financial advisers and 401(k) providers, is launching a new Adviser Resources section.
For reprint and licensing requests for this article, click here.
Money Management Executive
MORE FROM FINANCIAL PLANNING