From analyzing the developing definition of fiduciary to discussing the best ways for advisers to differentiate themselves from the competition, the American Society of Pension Professionals & Actuaries 10th anniversary 401(k) SUMMIT gave more than 950 attendees plenty of tricks of the trade to improve their business and stay informed on industry developments.
Held March 6-8 in Las Vegas, the SUMMIT drew retirement advisers, recordkeepers, plan administrators and others from across the country. In the session “Building Your Team’s Value Proposition,” presenters Sue Kelley of Ann Schleck & Co. and Invesco’s Rich Schainker detailed the benefits of having — and actually using — a well-developed value proposition to retain clients and attract prospects. The most common trap in creating a value proposition, according to Schainker, is focusing on your own experience and not stating first how that experience can help the client. “Work very hard to express what you do in the form of a benefit to the client,” said Schainker. “It’s not about you, it’s about them.”
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