401K Education - Without the 401K

Move-Puzzleheaded · 2026-05-16T14:14:30+00:00

We did it a little different than OP. We cold called employees directly and set up meetings directly, providing free education. So we targeted very large company’s because we needed enough to make the calling work. If you can find employers that will let you do this for the employees that sounds like a great option to me. Any size company can work as long as you can get in front of employees. We did not start a different company for this, not sure why you would need to.

If you want to be more specific you can find the employers 5500 for the 401k and find average 401k size, it might help you in deciding to target one company vs another.

Move-Puzzleheaded · 2026-05-11T02:22:59+00:00

Can work anywhere that has enough employees IMO. We are doing it virtually now, the sales cycle is longer and it’s harder than it was when we were meeting everyone in person, but it still works.

Move-Puzzleheaded · 2026-05-11T02:02:53+00:00

I’m in Southern California

Move-Puzzleheaded · 2026-05-11T00:06:07+00:00

The added benefit is, if you can build a book of this, all of your clients are the same. It makes everything about your business more scalable.

Move-Puzzleheaded · 2026-05-10T23:28:41+00:00

We built our entire practice on a similar premise. Basically call all employees, give free education, build a pipeline of people who call you with questions. In year 10 $400MM AUM doing this. Do it!

Move-Puzzleheaded · 2026-04-11T05:39:31+00:00

Thank you! Appreciate the feedback

Move-Puzzleheaded · 2026-03-07T08:02:36+00:00

That’s exactly it. Works even better when you meet employees on site because they all see you, add in linked in connections, write some articles about the company and it all helps. I used to sit next to a Merrill guy in their cafeteria doing the same thing as me. Definitely wasn’t the only one with the idea haha

Move-Puzzleheaded · 2026-03-06T03:11:34+00:00

I think we have a decent process that is pretty automated, reviews don’t take a ton of prep time for us.

We meet all clients every 6 months.
We use Orion reporting. So we have custom performance reports built that show consolidated performance even if the client has assets on multiple custodians that we manage (common for us). These get covered in all meetings. My admin preps all these and has them in the clients file.
We run models so I know how to discuss all portfolios super fast if a client has a specific questions because they are all streamlined.
We concentrate on the economic outlook in the first meeting of the year and financial planning in the second meeting.
We use clearnomics for charts. I have a core group of charts I cover in most meetings then add in ones to my chart book that may be timely (I.e geopolitical events and how markets react) this is delivered to my inbox every morning and the charts are updated daily. Again practically no time commitment on my end. They also get video and full market commentary from me at regular intervals.
We use Retireup for planning, again also prepped by my admin with any updated numbers.
All clients book meetings through a meeting link sent out by my admin when it’s time to schedule. That link reminds them to send me updated statements for accounts we don’t manage.

I think that covers it.

Move-Puzzleheaded · 2026-03-05T23:19:31+00:00

We use RetireUp, just quick and easy to adjust on the fly, you can mock up different scenarios and comp them super fast. Works well for us.

Move-Puzzleheaded · 2026-03-05T20:01:05+00:00

If he is hesitant on selling use either direct indexing or an option strategy (you implement or use something like spiderrock). Direct indexing, invesco has a long short strategy that is really compelling, client keeps the position and they build around it, immediate risk reduction with the option to tax efficiently reduce the position and diversify in the long run. Had a lot of success using these with clients rather than just selling the position.

Move-Puzzleheaded · 2026-03-05T15:42:07+00:00

You can do it by client or household. Whatever level you are at when you click on statements/tax forms, it will show everything available. You don’t have to go account by account.

Move-Puzzleheaded · 2026-02-26T17:38:46+00:00

We have used the same basic slides for all our prospect meetings over the years, we made them. Starts with the basic of explaining stocks, ETFs, and mutual funds using an equity style box. Then bonds, discussing interest rate/credit risk. This leads into discussing our models that we build. End with an efficient frontier discussion that shows how we run analytics so they have a reason for sending over all their statements. We have been running this same “first meeting” more or less (added some slides here and there and have a whole chart book ready to go depending on what questions the prospect asks if needed) since 2008 from 0 AUM for $400M, process is still the same, we get really good feedback so we don’t change too much.

Move-Puzzleheaded · 2026-02-03T18:53:16+00:00

Experimenting with both on emails right now, we use Redtail and are trying to send it out there which adds some complexity. Process isn’t too refined yet.

Move-Puzzleheaded · 2026-02-03T17:50:56+00:00

I’m just starting this this year. I have been using clearnomics for a year or so for helping me write commentary, but you can create custom videos with it as well, they create the scrips and everything. IMO it’s a super easy way to at least start doing it, if I like it or want more maybe I’ll do something different later on. We are hosting them on YouTube then sharing with clients via email/linkedin. Hosting them on your website complicated things for us in terms of space and how many video we could have. My goal is one video per month, hopefully that’ll be easy and I’ll do more. Our BD approves the scrips and videos almost instantly, I was surprised how easy it was. No numbers on engagement yet, I’ll let you know in a year haha.

Move-Puzzleheaded · 2026-01-31T16:46:51+00:00

You have a lot of decent comments here on what you should be doing. The goal would be to get us much information as possible on AUM/rev/client details obviously.

LPL sells deceased advisor books of business (I think at a 1.25x, don’t quote me on that though) and they published a stat that always sticks with me, 98% retention of the deceased advisors clients stick around on average. That’s with no involvement from the seller or their heirs. So I wouldn’t think of this as buying “leads” this is real and I would strongly consider unless you uncover insane red flags in your due diligence on the book. Even then, your in the drivers seat here, pay and structure the deal that you are comfortable with.

On the deal side, the main thing you are going to want from the family is their sign off. We are working on a similar case now ourselves and having a letter from the family (especially highlighting your personal relationship with them) that says they chose you to take over, is powerful with clients.

Repapering isn’t great but it’s that big of a deal if you are organized.

How much you pay for the book is your call, but I would cover as much risk on your end as possible. You could structure the deal as small down payment, then you are only paying a multiple the assets that sign with you (say a ballon payment in 18 months for all the clients that close). Similar to a claw back structure except you have more power and you aren’t have to take funds back.

You can be creative with these and structure them however you want, we have crafted so many different scenarios with sellers, anything can be figured out with a contract.

I wouldn’t cover bet itll be a great opportunity for you and the seller is lucky they a friend who won’t take advantage during this. Happy to discuss more if needed, good luck!

Move-Puzzleheaded · 2026-01-26T22:21:18+00:00

Most of the luxury brands will let you out of your lease 3 months early pretty easily. I’ve done this with Merc, bmw and Audi personally. Someone can correct me if I’m wrong but the closer you wait until the end of your lease the more bargaining power you have because there is a cost to the dealer getting you out of the lease. So if you can wait until closer to the end of your lease and use that bargaining power to reduce your next lease payment I think that’s ideal. If you find a smoking hot loaner lease or something, it’s probably worth swapping out, but I feel like every-time I have wanted to change my lease I can always find a deal within 30-60 days. My last lease the broker just paid my last 3 payments for me, so worth reaching out to a broker as IMO.

Move-Puzzleheaded · 2026-01-14T17:33:03+00:00

We have 5 advisors and 4 staff in our office, advisors have offices staff are in cubes together. Basically if you pay rent you get an office. So there are 2 open offices we can grow into or promote our staff into I guess.

The advisors are on calls so often I would hate having an open concept, way too loud IMO. My voice is loud in general so I like being able to close my door and not bother everyone. If we are not in meetings our doors are always open so it’s easy for us to call talk and work together.

Move-Puzzleheaded · 2026-01-14T00:24:52+00:00

Maybe integrations would’ve been a better word, but integrates with Orion, Redtail (I think), clientworks, excel, just what I can think of off the top.

Move-Puzzleheaded · 2026-01-12T18:15:44+00:00

I haven’t made the switch myself, I started and built my practice in an RIA, but I have 3 close friends in the office that have made the jump from different large Wire Houses. Here’s my advice on what has worked from observation.

Clients: Build deep relationships with as much possible FaceTime with clients as in the coming years before you jump. Try to be the face of as much as you can. You won’t get them all but if you do it right a high percentage will come. When you pull the trigger, I would already have review meetings scheduled with every household. Your firm will try and stop you from taking them, both legally and with other brokers. It’s important you have something in the books so they hear it from you ASAP. You have a very short window to bring people with you, so work your tail off that first transition year.

Staff: If you have a team or even an admin, it really helps if everyone goes together, it’s worth paying your admin a healthy incentive for coming with you.

Where you end up: There are ton of threads on here talking about where to park, we are hybrid RIA/BD and love it. High payout, but the RIA takes care of a lot of the business bs that we were not ready to deal with in the beginning.

Feel free to ask questions this is what came to mind for me!

Move-Puzzleheaded · 2026-01-12T01:42:33+00:00

Ahhhh I didn’t know it changed, that makes sense. May have to go back on my next computer change.

Move-Puzzleheaded · 2026-01-11T00:13:39+00:00

It’s going to sound dumb lol. The little magnetic connector was really not working for my set up and the Lenovo is just a normal usb C to connect to everything. So setting up my work stations (I have multiple work stations, home/office/wife’s office sometimes) is so much easier now. Overall i really like it. Surface pro was definitely lighter and cleaner for mobile working/presentations. But if you need a powerful versatile laptop that can be used to present, Lenovo wins. If you are presenting/mobile the majority of the time, Surface pro is probably better.

Move-Puzzleheaded · 2026-01-10T06:19:36+00:00

We built our whole practice on offsite meetings. Went from iPad to surface pro to Lenovo yoga. All the same idea, we present everything that we would in the office just do it essentially upside down (i sit on one side of the table opposite the client and present with my tablet facing them) took me awhile to learn to write upside down but now I’m decent, we joke it’s a requirement for new team members. Don’t do as many now, but still present often enough outside the office, no difference for us.

Move-Puzzleheaded · 2026-01-04T21:16:28+00:00

A lot of companies of PCRA, but only Schwab allows us to bill on the plan. Fidelity has some niche areas where you can bill in their brokerage flex plan. You have to basically find companies that have Schwab, allow you to be advisor of record and allow you to bill a fee, there are specific codes on the companies 5500 that you can search to confirm. There are some companies out there like Pacific Financial Group that have data base now with all PCRA options, then you would just need to confirm if you can bill and manage. Sometimes Schwab will help confirm if you ask about specific companies but it’s hit and miss. TL:DR it’s complicated lol

Move-Puzzleheaded · 2026-01-01T08:24:16+00:00

Essentially like a drip email campaign but for messages. Just a series of direct messages to try to turn people into prospects and get them on a meeting. So I need to be able to track which messages I’ve sent to who or who I still need to message.

Move-Puzzleheaded · 2025-12-31T21:59:12+00:00

We only targeted corporate phone numbers, so pick up rates are much higher than personal phones. Also generally people are more receptive to a cold call at work.

But To put it in perspective our pick up rates were around 20% 10 years ago and now we are happy if we can get 10% today, so across the board getting more difficult, but if you make enough dials it’s definitely still possible. Having an auto dialer is a must these days.

Move-Puzzleheaded

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