Why "Held-Away" Doesn't Have to Mean "Hands-Off"
For many advisers, "held-away" has become synonymous with "off limits."
But that thinking may be causing firms to overlook one of the biggest opportunities already sitting inside their existing client base.
Here are three misconceptions I hear all the time:
"It's too difficult to advise on 401(k)s."
It used to be.
Different plans, different investment menus, and hours of manual research made it difficult to scale.
Today, technology has made it much easier to deliver personalized guidance efficiently.
"My clients won't pay for 401(k) advice."
If you're already helping clients build their financial future, why wouldn't they want guidance on one of their largest retirement accounts?
Clients want advice that covers their whole financial picture—not just the assets you manage directly.
Most of the advisers using our “held-away” operating system (OS) are getting paid by their clients for this service.
“ERISA compliance is too complicated."
Compliance matters, but it doesn't have to be a barrier anymore.
With the right written process and documentation, advisers can confidently provide personalized 401(k) guidance.
And we have the ERISA compliance built into our “held-away” OS.
So, you can’t run afoul of the ERISA rules, even if you don’t know them!!
There's a Better Way.
"Held-away" doesn't have to mean "hands-off”!
It can be an opportunity to strengthen client relationships, provide more comprehensive advice, and uncover new revenue that's already within your book of business.
If you'd like to learn how independent advisers are doing exactly that, join our upcoming webinar:
The $14 Trillion Opportunity Most RIAs Are Ignoring
Click below to join our webinar we do on most Fridays from 3pm - 330pm EST.