How a Financial Advisor Can Get Business During 401(k) “Crazy Season”


In NASCAR, ”Crazy Season” is the period of time during the racing season where racers switch their teams for the next season. It gets a little disjointed when a racer defects to a new team for next year while still racing for the team that he will be a lame-duck for the rest of the current season. When it comes to 401(k) plans, “Crazy Season” is the last few months of the calendar year because it is the time that many plan sponsors decide to make a change of their third party administrators (TPA) and/or financial advisors in order to make a change by December 31, so that they can start the New Year with a new TPA and/or financial advisor in place. While plan sponsors are kicking the tires of potential, new TPAs and advisors, a financial advisor who thinks outside the box may get a leg up on the competition in landing a new client. So this article is suggestions on how a financial advisor can take advantage of 401(k) crazy season as they approach potential new clients.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ary Rosenbaum, The Rosenbaum Law Firm P.C. | Attorney Advertising

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