Advanced Qualified Plan Designs (Super 401(k)™ & 401(h) Plans)
Webinar—September 8th at 1:00 PM EDT
If you want to pick up more AUM and/or sell more FIAs, this is a webinar you’ll want to attend. To sign up for the webinar, with pension expert John Lalonde, click on the following link:
Use a 402(a)) Pension Fiduciary to Pick Up Affluent Business Clients
Webinar September 15th at 1:00 PM EDT
To sign up for this webinar on why working with a good 402(a) Pension Fiduciary can help business owners avoid ERISA liability for their pension plans, click on the following link:
Big clients with money “inside” and “outside” of the business
The pensions space is great because it gets advisors in front of affluent business owners.
There is significant money to be made from the pension business itself, but there is more money to be made when you also pick up the personal business of the owners.
What is a “Super 401(k) Plan™”? It’s a combination of the following plans:
-Profit Sharing Plan
-Defined Benefit Plan
A Super 401(k) Plan™ is the industry’s most “legally discriminatory” pension plan in the industry.
What does that mean? It means that the design discriminates in favor of the business owners (puts more money away for them and less for the employees) but does so in a legal manner (using the rules given to us by the Code).
If you want to approach business owners and say, hey, I’ll bet you a steak dinner I can show you how to put away significantly more money into your retirement plan for yourself and significantly less money for your employees.
What’s the business owner supposed to say? No, I’m not interested.
Tax-Free Retirement Plan
The next question to the business owner is: would you like me to tell you about a tax-deductible retirement plan where the money is allowed to grow tax-free and come out tax-free in retirement?
There is only one plan that allows this and it’s a 401(h) Plan. And you’ll know 100% that NO business owner you approach will have one of these plans.
Other Useful Tibits of Info on 401(h) Plans
-by adding a 401(h) Plan you can increase the deductions even if a plan is currently “maxed out.”
-You can add a 401(h) Plan to an existing plan and NOT fund it.
–The unfunded benefit can be accrued for years and funded in large amounts in later years.
Hopefully the light bulb will go on with the last bullet point. Businesses should add a 401(h) Plan NOW to their plans even if they CAN’T afford to max fund it. That unfunded benefit will accrue and if the business has a big year 1, 3, 5, or 10 years down the road, the profits can be sucked up with a large contribution to the 401(h) Plan.
If the 401(h) is not added to the plan, this is a benefit that doesn’t accrue and goes to waste.
There will be a lot more USEFUL info provided during the webinar.
So, if you want to onboard affluent business owners as clients, this webinar is a MUST to attend.