The Principal to offer small plan market tool kit

The Principal is now offering a small plan market tool kit that will help financial professionals get into the growing small plan market and build strong practices with diversified revenue streams.

According to the company, nearly three-quarters of small businesses do not offer retirement plans, the market is expected to grow significantly in the next few years.

The toolkit includes "Boosting Profitability in the Small Retirement Plan Market,” a white paper that offers specific best practices and tips from financial professionals who are successful in this market and shows how others can take advantage of the opportunity. It also includes a small plan prospecting checklist, information about the value of working with a third-party administrator and a non-branded flier on the benefits of starting up a retirement plan that financial professionals can use with small business owners.

"Today's small retirement plan market is not only large, it also has the potential to be lucrative—as long as financial professionals manage their client block efficiently," said Tom Donnelly, regional vice president of retirement and investor services for The Principal. "Each small plan sold can generate a steady stream of revenue and creates a wealth of cross-selling opportunities. The key is to work with a service provider that can help financial professionals be efficient and maximize their profitability in the small plan market."

The Principal Financial Group is a global investment management leader that offers retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies.


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