Don’t underestimate the importance of a face-to-face relationship with a client.
In a June NTSA 18 podcast, Jill Snyder, a registered representative with National Information Services and a 2014 NTSA Elite Advisor, emphasized how critical that is to advisors and the clients with whom they work.
“The value of the advisor in that position is that we have a conversation. We can listen to concerns, listen to the objectives the employee has. We can fully and very comprehensively outline a retirement plan for them through their contributing years,” said Snyder, who added that such a relationship also offers “the benefit of helping that person when they reach retirement age and helping them turn that nest egg into a retirement income stream.” Snyder told podcast host Ellie Lowder that she has absolutely found that such a face to face relationship has a bearing on 403(b) participation rates. “If we as advisors can enter into an arrangement with employers and plan sponsors, we definitely see an increase in participation in plans,” she noted.
And that has greater importance than drumming up business. Said Snyder, “Pensions are there, Social Security is there, but people really need to balance out the three-legged stool by doing something on their own.”
Not only that, a personal relationship can help educate. “What we find is that employees are so overwhelmed by their choices — they don’t know what a 403(b) is, how it’s going to benefit them,” Snyder reported.
Snyder said that her presentations are composed of material she has gathered on her own, but also that she uses a lot of material from NTSA’s The Source. And she adds that she being an involved NTSA member has been instrumental in her maintaining her competency and in staying current.
Other entries in NTSA’s new podcast series include:
In a June NTSA 18 podcast, Jill Snyder, a registered representative with National Information Services and a 2014 NTSA Elite Advisor, emphasized how critical that is to advisors and the clients with whom they work.
“The value of the advisor in that position is that we have a conversation. We can listen to concerns, listen to the objectives the employee has. We can fully and very comprehensively outline a retirement plan for them through their contributing years,” said Snyder, who added that such a relationship also offers “the benefit of helping that person when they reach retirement age and helping them turn that nest egg into a retirement income stream.” Snyder told podcast host Ellie Lowder that she has absolutely found that such a face to face relationship has a bearing on 403(b) participation rates. “If we as advisors can enter into an arrangement with employers and plan sponsors, we definitely see an increase in participation in plans,” she noted.
And that has greater importance than drumming up business. Said Snyder, “Pensions are there, Social Security is there, but people really need to balance out the three-legged stool by doing something on their own.”
Not only that, a personal relationship can help educate. “What we find is that employees are so overwhelmed by their choices — they don’t know what a 403(b) is, how it’s going to benefit them,” Snyder reported.
Snyder said that her presentations are composed of material she has gathered on her own, but also that she uses a lot of material from NTSA’s The Source. And she adds that she being an involved NTSA member has been instrumental in her maintaining her competency and in staying current.
Other entries in NTSA’s new podcast series include:
- PlanMember Services’ Jon Hall talks to Mike Webb of Cammack Retirement Group about the best ways for advisors to leverage the growing popularity of social media to enhance their businesses.
- NTSA Executive Director Chris DeGrassi provides an overview of what the Department of Labor’s fiduciary proposal means to advisors and others in the 403(b) and IRA marketplaces.
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