401k leads

[Guest Aggie]

I am a producer who is looking to build the 401k part of my business. Is anyone familer with a company that sells leads of companies who are looking to change providers?

[GBurns]

I have never run across anyone who sells leads to anyone other than their own agents. Check your Broker Dealer or investment funds provider for a BD or sales agency that develops such leads.

Since companies do not usually advertise that they are looking to change providers etc, such leads usually have to be developed through surveys or data analysis. The basic information used comes from services such as www.freeerisa.com (Judy Diamond and Associates). They have a service that will give you the names of the PS and plan data, from which you can use your own criteria to select targets for offering your services.

Of course, a lot depends on which segment of the 401(k) market you are going after.

I am curious. Why would you go into the 401(k) business without knowing where your prospects would be coming from? How do you select your service providers without marketing and sales support being a major item in the equation?