Industry Insights

The 5 Steps to Increasing Asset Under Management with Cash Balance Plans

The following are practical tips on how to increase assets under management with cash balance plans.

  1. Evaluate your current book of business, remember there is almost always an opportunity to do better.
  2. When prospecting for takeover 401(k) plans, use the cash balance conversation as a door opener and keep the Owner in mind.
  3. Determine the Owners's desired contribution and design the plan around that. For example if the desired benefit is greater than $100,000, adding a cash balance plan is the solution.
  4. Include the Client's CPA in your conversation, to gain help in providing validation and encouragement to adopt the plan.
  5. Cash balance plans are extraordinarily complicated. Don't run solo! Contact your local Trinity Consultant today.

Now you have the essential steps for solving one of the most painful problems that face baby boomer business owners: the risk of losing an enjoyable retirement.  The Cash Balance conversation is about a tax strategy using qualified plans that maximizes efficiency for the Owner.  Adding Cash Balance plans to your practice results in an increase in assets under management, while securing an enjoyable retirement for your Client.  

At Trinity Pension Consultants we have a unique roster of skill and expertise to create customized retirement plans that leverages your Client's future financial potential.  Contact your local Retirement Plan Consultant to learn how to increase assets under management with Cash Balance plans.