When I worked for third-party administrators (TPAs), nothing hurt prospecting more than a down stock market. Common sense would dictate that this might be the best time to prospect plan sponsors, but plan sponsors shut off discussions when they see those retirement plan statements,

As a plan provider, I suggest discussions with plan sponsors who are horrified by stock market losses, that fiduciary concerns should make them, more interested in reviewing their plan than when everything in the market is going gangbusters.