In Volatile Times, 401(k) Education Is The Theme Of The Day
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Nationwide Financial, Columbus, Ohio, is rolling out tools designed to help investment professionals leverage 401(k) Day, Sept. 3, to build qualified plan sales.
Created by the 401(k) Profit Sharing Counsel, Chicago, as a way to focus on employee education, 401(k) Day provides an opportunity for investment professionals to talk to their plan sponsor clients about fiduciary responsibilities, participant education and plan design, Nationwide says.
Many investment professionals use this time to have seminars for clients employees, which can result in additional individual sales, the company says.
Nationwide has made available a qualified plan market guide, which explains the market for small business qualified plans and offers strategies for approaching clients. Also available is a 401(k) Day checklist, which offers a list of items that can help build qualified plan business, Nationwide says.
Michael Peddicord, national marketing director, Nationwide, says agents neednt let 401(k) participants panic as their retirement funds dip in the currently volatile market.
He says agents can suggest participants "look at history, because typically when youve had market declines in history and when the news gets terrible and everyone says this is the worst market ever, the investors who stick with it benefit quite a bit."
