PLANADVISER - September/October 2018 - 48
marketing mechanics
Valuable Partnerships
T
How one adviser works with wealth managers in his firm to find prospects
he Catanella Institutional Consulting
Group in Philadelphia, a
member of UBS Institutional Consulting,
used to employ traditional
prospecting methods to find new clients,
says Ken Catanella, senior retirement
plan consultant. " A lot of us
started in the business 10 to 15 years
ago and remember what the model was
to drum up new business, " he says. " It
was cold calling, flyers and letters. "
Then, retirement plan advisers began
establishing centers of influence by
creating " seminars, inviting the attorneys
and the CPAs [certified public
accountants] and hoping they would
invite their clients, " he adds.
Catanella tried those methods but
found " the quickest way to become
successful in this business, hands
down, " was partnering. " In our world
working for a large, global firm such
as UBS, it has proven to be successful. "
In fact, he says, this model has
succeeded in attracting $1 billion in
new client assets to his group in the
past three years.
What Catanella means by partnering
is turning to the complex
manager at UBS to ask for the names
of private wealth managers who do
that business exclusively-no work
on 401(k) plans. Catanella says these
advisers have a minimum account
balance of $10 million to $25 million.
" The idea is to cultivate relationships
with 10 to 12 financial advisers
who don't do retirement planning, "
Catanella says. " They could be specialists
in other areas, such as wealth
management, private wealth,
small
plan business, Taft Hartley, foundations
or defined benefit [DB] plans-
but they don't do, and want nothing to
do with, the 401(k) business. "
To begin establishing a relationship
in this way, Catanella says, make
a wealth adviser well-aware of your
qualifications. " Help him understand
why you are the person he should be
48 | planadviser.com September-October 2018
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PLANADVISER - September/October 2018
Table of Contents for the Digital Edition of PLANADVISER - September/October 2018
Valuable Partnerships
Pension Risk Transfer
How to Explain CITs to Sponsors
Open MEP Opportunities
Appropriate Benchmarking
Investigations Intensify
PLANADVISER - September/October 2018 - Cover1
PLANADVISER - September/October 2018 - Cover2
PLANADVISER - September/October 2018 - 1
PLANADVISER - September/October 2018 - 2
PLANADVISER - September/October 2018 - 3
PLANADVISER - September/October 2018 - 4
PLANADVISER - September/October 2018 - 5
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PLANADVISER - September/October 2018 - 45
PLANADVISER - September/October 2018 - 46
PLANADVISER - September/October 2018 - 47
PLANADVISER - September/October 2018 - Valuable Partnerships
PLANADVISER - September/October 2018 - 49
PLANADVISER - September/October 2018 - Pension Risk Transfer
PLANADVISER - September/October 2018 - 51
PLANADVISER - September/October 2018 - How to Explain CITs to Sponsors
PLANADVISER - September/October 2018 - 53
PLANADVISER - September/October 2018 - Open MEP Opportunities
PLANADVISER - September/October 2018 - Appropriate Benchmarking
PLANADVISER - September/October 2018 - Investigations Intensify
PLANADVISER - September/October 2018 - Cover3
PLANADVISER - September/October 2018 - Cover4
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