Group Plans - Advisors

Why consider the group plan market?
  • The Group Plan market is a rapidly growing one as more employers use the services of a financial advisor for their plans
  • Group Plans are a great way to increase your client base
  • Group Plans smooth out the ups and downs of commission income
  • High asset retention rate – “sticky” assets
  • Access to High Net Worth Individuals (business owners)
  • Typically a daytime activity
  • Tremendous cross-selling opportunities to many members

Steps Involved in Securing a Group Plan

  1. Prospecting – click prospecting for a copy of our prospecting presentation.
    • Ask your existing clients whether they have a group retirement plan at work.
    • Ask for referrals once you’ve completed the sales process with a company.
    • Use the local Chamber of Commerce for directory of businesses.
  2. Convert prospects into clients
    • First meeting: Fact finding
      • Book a meeting with the decision-maker and use the Fact Finding Questionnaire developed by Mackenzie. This questionnaire will help you determine which group retirement plan best suits the needs of the plan sponsor.
      • Book an appointment to return and present a formal proposal
    • Second meeting: Formal proposal – Mackenzie can customize a proposal with two weeks’ notice. Please complete the proposal request form and fax it to the Group Plans Sales and Marketing Team at 416-922-5660. If you prefer to customize your own proposal, click proposal to access Mackenzie’s proposal templates. PowerPoint presentations are also available. To access the PowerPoint templates click PowerPoint – Decision maker.
  3. Member information session
    • Provide information to members about the group plan. You must order a Member Kit for each member of the plan. Mackenzie has a member PowerPoint presentation. To access it click PowerPoint - Member.
  4. Individual member consultations
    • Set up a meeting with each individual to discuss his or her investment options.
  5. Mackenzie has a payroll stuffer for Group RRSPs (The Extra Edge) that can be used to educate employees about the Group RRSP and encourage them to participate in the plan.