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Keys to Success

If you have been in the corporate retirement plan market for any length of time, you know that winning new plan sponsor business is challenging. Success in our appointment program requires knowledge, experience and comfort executing a “soft sales” approach.   

To maximize success, advisors that purchase appointment leads through Retirement Plan Ratings should be prepared to perform a plan and investment analysis or benchmarking report at no cost or obligation to the employer.  To maximize success, the objective of each appointment is to provide the plan sponsor an “experience” and demonstrate your expertise and capabilities in order to increase the chances of winning new business. 

Retirement Plan Ratings Appointment Cycle

  1. FlowchartAppointment Set: The Retirement Plan Ratings consultant sets an appointment with the plan sponsor for a no-cost, no-obligation plan review with a qualified retirement plan advisor in our network and sends a biography and firm profile of the assigned advisor to the plan sponsor. 
  2. Appointment Confirmation: In a follow-up call, the Retirement Plan Ratings consultant confirms the appointment time and date with the employer.  We notify the assigned advisor of the upcoming appointment.  In most cases, you will have two to three weeks notice prior to the appointment date.
  3. 1st Meeting Discovery Process: Advisors should arrive at the first meeting prepared with thoughtful questions pertaining to the employer’s plan (see Top 15 Discovery Process Questions) and perhaps a sample benchmarking or investment report. Ideally, the first meeting should not be viewed as a “sales” meeting but an opportunity for the referred advisor to demonstrate their knowledge and expertise and gain the confidence and trust of the employer. With this accomplished, the referred advisor should collect the necessary documents to perform either a basic fiduciary review or plan benchmarking for the employer.
  4. 2nd Meeting Recommendations:  In most cases, the second meeting with the employer offers the best chance to “trial close” or win new business.  Results of your review and analysis should be discussed with the employer and alternatives presented.
  5. Drip Process: Despite your best efforts, it’s unlikely you will win new business with every prospect you have an appointment with. There can be many reasons an employer may delay making necessary plan changes, but if you succeed in providing the employer with a positive “experience” through this program, and employ an effective “drip process” which enables you to stay in contact with the employer, circumstances often change that can lead to “second chance” opportunities with previous prospects.

To learn more about the Retirement Plan Ratings appointment program and strategies for success, please click here to listen to our program primer webinar.


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