Ideas into Action: Find Your Next Retirement Plan Client

This program gives you a powerful
advantage by providing:
OPEN MORE DOORS.
The tools to find opportunities; and
The ideas and resources to help
you close more business.
CLOSE MORE PLANS.
Ideas into Action: Find Your Next Retirement Plan Client
The regulations surrounding retirement plans are more complicated than ever, making it harder for plan sponsors to stay
current with these rules. Yet this complexity presents an opening for enterprising financial advisors who are able to find plans
and identify opportunities, discuss and propose potential solutions—and present themselves as more knowledgeable 401(k)
experts. Ideas into Action was created to position these advisors for success.
The Ideas
We’ve assembled an extensive and still-growing list of pressing issues that are on the minds of plan sponsors. These ideas pinpoint weaknesses and opportunities you can leverage to initiate valuable in-depth conversations with plan sponsors that will
present you as an expert who should be part of their plan team.
OPEN MORE DOORS.
CLOSE MORE PLANS.
Example:
Idea—Help Plans Avoid Fines for Poor Deposit Timing
In 2010, the Department of Labor (DoL) hired 997 new people—750 of whom are being used to find and fine plan sponsors who
haven’t performed sufficient deposit timing of an employee’s salary deferrals. A DoL rule states that contributions must be made as
soon as it is administratively feasible, but no later than 15 business days after the month in which the contributions occurred. This
15-business-day rule was not meant as a “safe harbor”; rather, administrative feasibility was the key. To alleviate such concerns, the DoL
issued guidance for creating a safe harbor for those employers who deposit contributions within seven days.
As an advisor, you can help to ensure that the plan sponsor understands these rules and help them properly comply.
You may also choose a range for the amount of this failed contribution on the “Amount of Failed Deposit” dropdown menu.
Take Action
In three easy steps, we provide everything you need to find leads, connect with the plan sponsor, and close the sale.
Action 1: Begin Your Search
It starts with our award-winning online business
intelligence tool, Insights & Intelligence, which provides
critical information on both individuals and organizations,
including detailed profiles of more than 1.5 million
retirement plans. These profiles include extensive plan
data mined from public filings (e.g. Form 5500).
Searchable fields let you identify leads by plan type,
situation, and geography—or using any combination of
factors you choose.
Example:
Action—Search for Plans
Use our Insights & Intelligence tool to locate plans in
your area. On the “Retirement Plan Searches” menu,
select the “Corporate Plans” link. Click the “Advanced
Search” link. Choose “Yes” on the “Failed to Deposit
Contributions On-Time” dropdown menu. You may also
choose a range for the amount of this failed contribution
on the “Amount of Failed Deposit” dropdown menu.
This material is exclusively for financial advisors (registered representatives of broker/dealers or associated persons of
registered investment advisErs). Not to be used with the public in written or oral form.
Action 2: Start the Conversation
Once you find plans, we provide a series of scripts you
can use to begin the conversation with these prospects.
Based on the information you uncover about the plan
in your search, you can choose the script that points
to a specific issue of concern to the plan and suggest
potential solutions—providing the plan sponsor with a
compelling reason to set up a meeting with you.
Example:
Action—Connect
Call plans that have had past problems with deposit
timing. Your script:
“As a courtesy, I have reviewed your plan and noticed that
you have had some issues with the timing of employee
deferrals. In order to avoid a Department of Labor action
and your company’s potential liability to replace lost
earnings, we should make sure that you have the proper
payroll transmittal procedures in place to improve
deposit timing. It’s easy for the DoL to fine you, but there
are some easy remedies we can help you put in place to
address it. Would you be interested in setting up some
time to meet so I can tell you more?”
Action 3: Present the Solutions
When you meet with these potential clients, we give
you access to a host of resources you can use and
solutions you can present to close the sale. Resources
include articles and reports on the topic being discussed,
as well as specific steps, solutions, or products you can
recommend to help remedy their situation.
Example:
Action—Use These Resources and Solutions
Q&A: Recent Department of Labor Happenings—Deposit
Timing and Collection Responsibility
To register for immediate access to the Ideas into Action program and see all the ideas we have for finding
new plans, visit www.lordabbett.com/advisor/ideasintoaction or contact one of our Retirement Platform
Consultants at [email protected] or 866-202-9137.
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately held investment management firm, founded in 1929. As one of the oldest
money management firms, Lord Abbett has worked with generations of clients, financial advisors, and consultants, building
trusted relationships over the past 80 years.
Our singular focus on the management of money has provided a quality investment experience to clients of all sizes.
Lord Abbett serves:
• Defined contribution plans—Providing investment
options within retirement plans offered by businesses
• Individual investors—Providing a full range of investment
solutions, including mutual funds and managed accounts
• Insurance companies—Offering subadvised accounts and
insurance series and retail mutual funds within investment
products distributed by insurance providers
• Institutions—Serving the specific needs of corporations,
public funds, Taft-Hartley plans, hospitals, endowments, and
foundations
All Lord Abbett mutual funds are offered by prospectus only. Before investing in any of the Lord Abbett mutual funds, carefully
read and consider a fund’s investment objectives, risks, charges, and expenses. This and other important information is contained
in the prospectuses, which can be obtained at www.lordabbett.com. Investments in mutual funds involve investment risks,
including the possible loss of the principal amount invested.
for more information
Lord Abbett Client Service
888-522-2388
Visit us at:
www.lordabbett.com/advisor
Lord, Abbett & Co. LLC/LORD ABBETT DISTRIBUTOR LLC
90 Hudson Street, Jersey City, NJ 07302-3973
NOT FDIC INSURED–NO BANK GUARANTEE–MAY LOSE VALUE
IIAFLY
(07/11)