Wednesday, June 20, 2007

Beyond 401 K Rollover Training

by Tammy de Leeuw
Financial Advisors Netzone

A 10-year veteran of the financial services industry, Scott Brooks was amazed at how little information was available was available to help advisors deal with the intricacies of 401 K rollovers.

"What material I discovered I found to be incomplete and nearly all of that focused on the distribution phase, seminar planning, and seniors. There was virtually nothing dealing with people in transition; people in their 40's, 50's, and 60's facing important decisions about their IRA's due to early retirements or layoffs," says Brooks, who is currently based in Houston, Texas.

Having worked in the banking industry as well as with individual clients, Brooks saw the obstacles faced by ordinary advisors trying to capture a piece of the lucrative rollover market.

"No-load record keepers dominate 80% of the rollover market for large companies. Most of large companies have no-load companies administering 401k and pension benefits. Because so much money is involved, the record keepers use all their efforts to ensure that advisors can't get on their turf very easily," says Brooks. "The record keepers have a definite advantage because they possess all the critical plan information needed to do a successful rollover."

Having the unique perspective of having seen what goes on behind the scenes at no-load record keepers, Brooks decided to launch a program to train advisors to compete against the "big boys."

"Advisors need to know EVERYTHING about the company benefit plans of the larger companies before they do rollovers. I developed Rollover Coach to provide IRA rollover training they have never had before and to teach them to obtain and organize critical plan information," says Brooks.

Brooks idea was not to make tons of money selling "stuff" but to give his fellow rollover specialists expertise in dealing with transitional rollovers. "I was tired of hearing the record keepers bashing advisors," he says,"I wanted to give them a new tool in their battle for a piece of the pie."

Scott offers Rollover Coach to FAN readers at a substantial discount. Get a free chapter to preview at: If you decide to order, let him know you found out about it from FAN.

1 comment:

TD said...

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