PLANADVISER - November/December 2020 - 30
practice management
Client Onboarding
How advisers can be sure to deliver all that new partners expect
T
he past few months have created
unprecedented challenges for plan
sponsors. They are grappling with
regulatory changes such as the Coronavirus
Aid, Relief and Economic Security
(CARES) Act, dealing with the impact
of a volatile stock market, and may be
handling worker furloughs and layoffs.
The strain has also turned a spotlight
on their retirement plan advisers.
" This year, some businesses were in
survival mode, and some were flourishing,
but both were looking for the
right partner to help them alleviate the
stress of what was happening in the
retirement space, " says Jamie Greenleaf,
lead adviser and principal at Cafaro
Greenleaf, a OneDigital company,
in
Red Bank, New Jersey.
Of course, even in years without
a pandemic, many plan sponsors are
open to switching advisers. More than
60% evaluate their adviser at least once
a year, and 25% do so even more often,
according to Fidelity Investments.
That creates an opportunity for
advisers to win new business, but it
also means there is no guarantee that
new clients will stick around. Key to
creating long-term client
relationships
is having an onboarding process
that makes the transition as seamless
as possible, plus ensures that all
client expectations get met, says Kathleen
Dulko, a Certified Plan Fiduciary
Advisor with Ashford Investment
Advisors in Daytona Beach, Florida.
" The first 100 days of the relationships
are so important, " says Jeffrey M.
Petrone, managing director, SageView
Advisory Group in West Palm Beach,
Florida. " You have to nail that. If you
don't, you'll pay for it for years, and, in
many cases, you'll never get the relationship
to the point you could have if
you'd started off better. "
Given the importance of proper
onboarding, SageView, three years ago,
started devoting a portion of every
weekly meeting to discussing clients
it had signed in the past 100 days to
30 | planadviser.com November-December 2020
Art by Uijung Kim
http://www.planadviser.com
PLANADVISER - November/December 2020
Table of Contents for the Digital Edition of PLANADVISER - November/December 2020
Value Judgement
2020 PLANADVISER Practice Benchmarking Survey
Retirement-Plus
Client Onboarding
Expanding Plan Access
Sequence of Return Risk
The DOL's Latest Proposed PTE
Are You a QPAM?
PLANADVISER - November/December 2020 - Cover1
PLANADVISER - November/December 2020 - Cover2
PLANADVISER - November/December 2020 - 1
PLANADVISER - November/December 2020 - 2
PLANADVISER - November/December 2020 - 3
PLANADVISER - November/December 2020 - 4
PLANADVISER - November/December 2020 - 5
PLANADVISER - November/December 2020 - 6
PLANADVISER - November/December 2020 - 7
PLANADVISER - November/December 2020 - 8
PLANADVISER - November/December 2020 - 9
PLANADVISER - November/December 2020 - 10
PLANADVISER - November/December 2020 - 11
PLANADVISER - November/December 2020 - 12
PLANADVISER - November/December 2020 - 13
PLANADVISER - November/December 2020 - Value Judgement
PLANADVISER - November/December 2020 - 15
PLANADVISER - November/December 2020 - 16
PLANADVISER - November/December 2020 - 17
PLANADVISER - November/December 2020 - 2020 PLANADVISER Practice Benchmarking Survey
PLANADVISER - November/December 2020 - 19
PLANADVISER - November/December 2020 - 20
PLANADVISER - November/December 2020 - 21
PLANADVISER - November/December 2020 - 22
PLANADVISER - November/December 2020 - 23
PLANADVISER - November/December 2020 - 24
PLANADVISER - November/December 2020 - 25
PLANADVISER - November/December 2020 - Retirement-Plus
PLANADVISER - November/December 2020 - 27
PLANADVISER - November/December 2020 - 28
PLANADVISER - November/December 2020 - 29
PLANADVISER - November/December 2020 - Client Onboarding
PLANADVISER - November/December 2020 - 31
PLANADVISER - November/December 2020 - Expanding Plan Access
PLANADVISER - November/December 2020 - 33
PLANADVISER - November/December 2020 - Sequence of Return Risk
PLANADVISER - November/December 2020 - 35
PLANADVISER - November/December 2020 - 36
PLANADVISER - November/December 2020 - 37
PLANADVISER - November/December 2020 - The DOL's Latest Proposed PTE
PLANADVISER - November/December 2020 - Are You a QPAM?
PLANADVISER - November/December 2020 - 40
PLANADVISER - November/December 2020 - Cover3
PLANADVISER - November/December 2020 - Cover4
https://www.planadviserdigital.com/planadviser/winter_2023
https://www.planadviserdigital.com/planadviser/fall_2023
https://www.planadviserdigital.com/planadviser/summer_2023
https://www.planadviserdigital.com/planadviser/industryleader_2023
https://www.planadviserdigital.com/planadviser/spring_2023
https://www.planadviserdigital.com/planadviser/november_december_2022
https://www.planadviserdigital.com/planadviser/september_october_2022
https://www.planadviserdigital.com/planadviser/july_august_2022
https://www.planadviserdigital.com/planadviser/may_june_2022
https://www.planadviserdigital.com/planadviser/industry_leader_awards_2022
https://www.planadviserdigital.com/planadviser/march_april_2022
https://www.planadviserdigital.com/planadviser/january_february_2022
https://www.planadviserdigital.com/planadviser/november_december_2021
https://www.planadviserdigital.com/planadviser/september_october_2021
https://www.planadviserdigital.com/planadviser/july_august_2021
https://www.planadviserdigital.com/planadviser/may_june_2021
https://www.planadviserdigital.com/planadviser/march_april_2021
https://www.planadviserdigital.com/planadviser/january_february_2021
https://www.planadviserdigital.com/planadviser/november_december_2020
https://www.planadviserdigital.com/planadviser/september_october_2020
https://www.planadviserdigital.com/planadviser/july_august_2020
https://www.planadviserdigital.com/planadviser/may_june_2020
https://www.planadviserdigital.com/planadviser/march_april_2020
https://www.planadviserdigital.com/planadviser/january_february_2020
https://www.planadviserdigital.com/planadviser/november_december_2019
https://www.planadviserdigital.com/planadviser/september_october_2019
https://www.planadviserdigital.com/planadviser/july_august_2019
https://www.planadviserdigital.com/planadviser/may_june_2019
https://www.planadviserdigital.com/planadviser/march_april_2019
https://www.planadviserdigital.com/planadviser/january_february_2019
https://www.planadviserdigital.com/planadviser/november_december_2018
https://www.planadviserdigital.com/planadviser/september_october_2018
https://www.planadviserdigital.com/planadviser/july_august_2018
https://www.planadviserdigital.com/planadviser/may_june_2018
https://www.planadviserdigital.com/planadviser/march_april_2018
https://www.planadviserdigital.com/planadviser/january_february_2018
https://www.planadviserdigital.com/planadviser/november_december_2017
https://www.planadviserdigital.com/planadviser/september_october_2017
https://www.planadviserdigital.com/planadviser/july_august_2017
https://www.nxtbookmedia.com