Welcome to Selling Season 2017!
401(k) Advisors know that the four month period of time from July thru October is the time of year you make your numbers in 401(k) sales. Employers are most inclined to improve their company retirement plan during this time of year we call the Selling Season. Employers seem to be conditioned and comfortable discussing retirement plan improvements for implementation on January 1st, 2017.
Plan sponsors with a calendar year end plan are more aware of their company retirement plan at this time of year because Form 5500 is due by July 31st, (unless a 2 1/2 month extension is sought). And if the plan has over 100 participants the plan audit is being finalized to review with the auditor and attach various schedules to their company retirement plan Form 5500.
This is the time of year for all 401(k) prospect facing sales professionals to continue to be in contact with plan decision makers. Hopefully you have been in communication with plan prospects over the past months and possibly past years leading to the 2017 selling season. Those numerous communications prove your determination and make it easy for the decision maker to remember you. 401(k) plan decision makers will still vacation over summer, but as each day progresses your persistence and timing can be rewarded.
June 30th, 2017