4-401k Advisor Resources

Resource Review – 401kGrabNGo

Looking for strategies, scripts, and ideas to get more 401k sales opportunities (and close them and then service them)?

I recently spoke with Andy Hudson from 401(k) Champions about a valuable resource they offer advisors called 401kGrabNGo.

You can watch the video interview below and the text transcript follows.

NOTE: 3 Minutes, 10 Seconds starts the screencap walkthrough of the site…

VIDEO TRANSCRIPT:

Sharon:
Hi everyone. This is Sharon – 401kbestpractices.com, and today I have Andy Hudson joining me and Andy is here to talk about a tool that I came across online and was just blown away by the amount of value that he offers in this program.  The program is called 401kGrabNGo. Andy, do you want to introduce yourself, tell us a little bit about you, and maybe dive into what the program is?

Andy:
Sure. Thanks Sharon. Great to be with you today. My name is Andy Hudson and I’m with 401(k) Champions.  My business partner, Chris Barlow, and I created 401kGrabNGo as an extension of our one-on-one coaching with 401k specialists and it really centers around the reach for the advisor.

So as an advisor reaches more plan sponsors, more participants, and helps them prepare for retirement, 401k is a great vehicle for that. And from the standpoint of reach, taking care of their family, providing for their family.

And reaching that next level from their advisory business, whether you’re a one-person advisor or work with a team, you’re trying to obviously expand your reach.

And one of the things we continue to run into is the one-on-one work that we do is, a lot of times it’s cost prohibited for advisors that are just entering into the space. You might have a book of individual wealth clients that you’re working with. And you’ve started to take interest in the 401k and started thinking about starting conversations and how would you prospect and those types of things. And sometimes the math doesn’t work initially until you get some momentum built in getting started in the 401k.

So 401kGrabNGo is really built from the one-on-one coaching work that we do with 401k specialists in the five areas of qualified plans. So that’s what Chris Barlow and I do. We work one-on-one with advisors and then through GrabNGo which is set up on a platform with video training where you can go through systematically and pick out the aspect or element that you’re trying to solve for  There’s instruction and templates and resources training, if you will, to help you get that traction.

Sharon:
You know what, one thing this occurred to me when you say Chris Barlow, I have his book titled the 401(k) Sales Champion on my bookshelf. And it’s one of my all-time, favorite 401k books for 401k advisors actually. And so inside the 401kGrabNGo, he’s actually the one that has put together most of those little videos and training. But you and he worked together on the coaching. Is that right?

Andy:
Yeah, exactly. Yeah. Chris is, the face of GrabNGp. And a lot of the methodology and processes that we’re sharing through 401kGrabNGo are from his work with the 401k Sales Champion out the book which is now in its fourth iteration, it’s available in an ebook.

So a lot of that has been translated into video with supporting templates and things like that. So yeah.

Sharon:
Nice. I’m excited. Can we take a look at the login area and what people see and get, and go through the different aspects of what you’ve put together?

Andy: (go to 3:10 in the video to watch the walkthrough)
Absolutely. If they go to 401kchampions.com there’s a button at the bottom where they can get access to 401kGrabNGo.

When they become a member, then they would log in to 401kGrabNGo. And this is the welcome screen. And we won’t go through every tab that so that you’ve got a welcome tab up here at the top. You’ve got a whole section on:

• Find plan opportunities. So the prospecting side of things…
• Qualifying an opportunity as an advisor (how do you determine if they are qualified, if they’re fit for you and your practice)
• Preparing your winning sales presentation
• Closing an opportunity and then
• Delivering activities.

So as an advisor getting into the space, you may have questions on an aspect of it, or maybe something it’s been a little while, since you’ve done that. You’re going back out for an annual meeting with the 401k client. You want to talk about the annual meeting and kind of refresh your thinking around agenda and those types of things.

There are 152 videos in embedded in 401kGrabNGo around that structure.

So there’s the:

• Welcome, and you can see bounces down into, to
• Find a Plan Opportunity, and Who are your Prospects?
• Quantitative and qualitative sourcing leads and
• Database – tracking prospects
• Marketing calendar, and
• Cold calling.

So it gets pretty extensive in each of the five areas that we find advisors typically have questions for us around around coaching.

Sharon:
Interesting. Wow. There is so much there. I’m glad this is the behind the scenes… from where you put it together on the front end, it’s not that complex, but all the information is there and it’s organized very well.

Andy:
That’s a great point. And you can see here, the Welcome video. If you were you go to the welcome screen, you hit the welcome video and there’s complimentary text. (Each video has a transcript below it.)

And if you’re trying to qualify an opportunity and want to talk about discovery meeting objectives, you come to that video, which is 23 seconds. And then it goes through conducting the discovery meeting. So everything is laid out.

We use a platform called Kajabi to host 401kGrabNGo.

We love it, because it just makes it very intuitive. Everything is laid out well. It tracks where you stopped watching so it takes you there the next time you log in – those types of things. So we find it’s a great platform.

Sharon:
Can we look at Find Plan Opportunities? I know that’s a big topic and I recently talked about that in one of my most recent podcasts on how to get new 401k leads.

And I see you have cold calling / networking. What kind of information is provided? Let’s say on cold calling, can we look at that section?

Andy:
Sure. Yeah, yeah. Cold calling is a tough one. We find that dimensional funds came out with an advisor study and it’s a high percentage – I want to say it’s 68% – of top 401k advisors get their referrals (their source of business) from centers of influence. So (I’d probably recommend) COIs as opposed to cold calling. But if you have to get into the 401k space and you need to find opportunities more quickly, sometimes cold calling is the most direct way to do that.

Cold calling comes up after you’ve worked your network and talked to the people that are obvious prospects that have influence around the 401k plan. So now it comes down to maybe you hiring somebody on your team to do cold calling and the big question is – what are they going to say? What’s the approach?

Sharon:
Now, once an advisor has a lead, do you have information in here on what to do once they get it by any chance?

Andy:
There’s the 401k Prospecting System which is available and it talks about :

• openers,
• getting past the receptionist,
• leaving a voicemail. (It’s interesting with COVID that you’re not really calling an office as much as you are calling somebody’s direct line now. So some of this has shifted, but leaving a voicemail…
• what to say
• processing objections, and
• the discovery meeting.

And then there’s an entire. PDF here that you can download that has all of the content that you just went through from a video standpoint.

Is that answering your question?

Sharon:
Yeah, that’s helpful. That’s actually more than what I was asking. Maybe a different question is, since most plan sponsors don’t flip the switch on that first or second meeting. Do you have any advice or suggestions inside this portal on what to do to nurture that relationship?

Andy:
Yeah. One of the interesting studies and numbers that we land on is around 8% of plans will change providers in any given year. So to your point behind your question, most of the prospects that you speak with, unless they’re experiencing a triggering event and are part of that 8%, they’re in the 92% that aren’t looking to make a change.

So how do you nurture that relationship, if you will, and add value as you’re nurturing it? There is some follow up content and suggestions here.

From a model standpoint, we also offer some other resources the 401k Sales Call and things like that, where we talk about what are some some topics in the news and what’s going on with the market right now? What are the needs? What’s relevant – that’s a moving target – that’s a month by month thing as opposed to a static process procedure type aspect. There is some content around that.

And then there’s also other resources in addition to this, to compliment that outreach and that continuing to nurture those prospects.

Sharon:
Well, Andy, it looks like there’s so much helpful information in here, and this is why I wanted to share it with my community. Because I’ve never seen as much of a robust platform that’s got so many different, highly-sought-out topics on getting leads and converting and closing those leads in one place -built by advisors that have the experience that you have.

So, is there anything else in here that you want to highlight or show people before we talk about how people can access it?

Andy:
Yeah. That’s a great question, Sharon. I think it depends on, how you as an advisor approach for the 401k business.

And we find that there are four approaches and really no matter what approach you take to 401k plans, (what I mean by that is how it fits into your business), what we’ve tried to create here is speed. 

We you can Google and find lots of ways that you can do this yourself. And the idea here was to give you proven, organized, method for everything from  prospecting all the way through to seeing a client.

You can log in, get ideas, get templates, refresh your memory, learn for the first time how to conduct the meeting, depending on where you are in building your book of business.

So the answer of what stands out, what’s going to be impactful to you – it really depends on how you as the advisor, how you approach 401k plans.  But the whole idea being that you can go right to what you’re looking for and get instruction – that we’ve tested and know works – and then go implement what you just learned and what you need to do with that particular prospect or client.

So, I think that’s the, magic behind 401kGrabNGo – is the speed and the ease that it allows you to take that next step with a client or prospect. And then that will depend on how you as an advisor approach, 401k – how it fits into your business.

Sharon:
Okay. So if somebody is interested in getting this, how do they get ahold of you – what’s the best way for them to find you and sign up?

Andy:
Andy Hudson on LinkedIn – send us a message to connect. Chris Barlow on LinkedIn. You can go to 401kchampions.com and connect with us there where you’ll find more information about 401kGrabNGo and we’d love to hear about what you’re working on and how we can help help you continue to grow your your practice.

Sharon:
Okay. And did I see the price on that first page? How much is it?

Andy:

$197 a year. And so if you go to 401kchampions.com, you’ll see Chris and the book and down lower on the page at the bottom, you can click on “Self Study, $197, 401k GrabNGo.”

Sharon:
That’s unbelievably priced for that much information, but I can understand for the audience – there is so much value and I’m sure advisors really appreciate that.

Andy:
Yeah, we appreciate the opportunity to be part of your business and we want to contribute. So we wanted to put a price on it that makes it easy and easy for you to get in and make a difference. And, like I started out saying…impact, and helps you with your reach of your practice personally, and reaching the next level in your 401k advisory business.

Sharon:
Awesome. Thanks.

Andy:
Yeah. Thank you, Sharon. Appreciate you having us on today and I look forward to more conversations.

—————- end of transcript ——————

Mentioned in this episode:

• 401kGrabNGo
• Book: The 401(k) Sales Champion
• Online Course Hosting Platform: Kajabi
• Bi-Monthly Coaching Calls: 401(k) Sales Calls

Listen to the podcast version of this topic here.
Or watch the YouTube Video here.

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