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Rebalance 401(k)s

07:30AM May 31, 2007 in category Tip of the Day by AdvisorMax

Rebalance 401(k)s for free. It’s a very non-threatening way to approach prospects.You’re essentially saying, hey, I want you to have more money. - Trudy Haussmann, president and owner, Haussmann Financial


 


We keep a database of everyone who has ever attended a workshop and has asked to be contacted. We send them a quarterly newsletter and ask if they’d like their 401(k) rebalanced. We rebalance their 401(k)s – free of charge -- for years, partly to keep them in the loop and partly to make sure they retire with as much money and as little debt as possible. It’s a very non-threatening way to approach them. You’re essentially saying, hey, I want you to have more money.


-Trudy Haussmann, Haussman Financial, Newport Beach, CA, in In My Experience

Comments[2]

Comments:

Interesting concept, but I must ask how do you know what the proper allocation needs to be if these prospects arent clients and you dont know their full situation? or is it just a matter of getting absolute return? If so, whats the process and more importantly how do you handle the liability?

Posted by Caleb Brown on June 04, 2007 at 01:03 PM EDT #

The prospects turn into clients once they agree to have the company advise them on their 401(k). As part of the process, they would disclose the relevant information relating to their investment objectives, risk tolerance, etc. Only after that point would specific recomendations be presented.

Posted by Robert Haugan on June 17, 2008 at 12:25 AM EDT #

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