June 10, 2025
KEY TAKEAWAYS
In a crowded marketplace, what makes your retirement practice stand out? Your brand.
What’s so important about having a retirement brand? Branding allows you to stand out from what may be perceived as a “sea of sameness,” helping you attract and retain more retirement plan clients.
In talking with financial professionals, it is widely understood that it’s important to be different. However, despite their desire to be different, it seems few put in the actual work to stand apart.
Even if you already have a brand in place, revisit it frequently to ensure it is performing at its best and helping you stay ahead of competitors. Consider the four D’s of building a better brand:
A clear, definitive statement about what you do and why is a critical first step to break through the noise and showcase yourself and your team with retirement plan clients and prospects. If you have a value proposition, make sure it is targeted to the needs of retirement plans. Consider the following questions:
Why retirement plans? Why have you chosen to add retirement plans to your business? What is the most satisfying part of working with retirement plans?
What services do you provide for retirement plans? What do you do for plan sponsors? For plan participants? What is unique about your practice?
Whom do you serve? How would you describe the plans you serve today? What kinds of plans are the best fit for you and why?
To help build your retirement plan business, you need to be able to effectively describe the specific ways you serve plan sponsors and participants. While being a 401(k)-plan professional is itself a differentiator, you can distinguish yourself further by identifying the types of plan sponsor clients you serve and communicating to them that you understand their participants’ unique challenges.
When describing your differentiating qualities, use language you are comfortable using in everyday conversations, avoiding jargon. For a more personal touch, include some background about how and why you became involved in the 401(k) business.
Today’s most successful brands demonstrate that they remain focused on understanding customers’ needs. Once you’ve defined and differentiated your brand, demonstrate it by showing how much you value your clients. This starts with listening.
Initiate conversations with plan sponsors to help uncover gaps between the service you provide and your clients’ expectations. To understand your clients’ needs better, ask why they chose you and why they stay. Find out what they value most about your relationship. For those who left, ask why they did so.
With client feedback in mind, ensure your firm’s marketing materials convey that you understand plan sponsor and participant needs.
If you do business by smartphone or tablet, you need to have an effective digital presence. Make sure you’re not neglecting these important areas:
Make your virtual meetings successful. Whether you hold online meetings from your office or from home, your brand is being represented. Make sure your surroundings reflect that. While it may sound like common sense, simple things like having an uncluttered background and technology that works properly will convey your seriousness and professionalism.
Revisit your social media bio. If you haven't refreshed your social media profile or website bio recently, it's time to give it another look. Use your responses to the above questions to write a refreshed bio that helps you stand out as a retirement plan professional and use it across your social media channels and website. While you’re at it, ensure your team profiles are consistent across digital platforms.
Make your social media truly social. Merely having a strong profile is not enough. It’s also important to post relevant content and engage your audience. According to Rebecca Hourihan, founder and chief marketing officer of 401(k) Marketing, “Retirement plan advisors who want to increase their online visibility and reputation should post a minimum of once per week.”
Connect with clients on social media. Take the time to send personalized invitations. Develop a social media content strategy and a weekly plan to post and share content. Segment your strategy based on specific needs of plan sponsors and plan participants in your network, keeping in mind that both groups will see your posts.
Of course, use of social media for business purposes is subject to home office approval, and financial professionals should seek approval before engaging in any social media practices outlined here.
Competing in today’s retirement plan marketplace poses increasing challenges. A brand that speaks to the spoken and unspoken needs of retirement plan sponsors can make you stand out in the sea of sameness.
Jonathan Young is a senior national accounts manager with 35 years of investment industry experience (as of 12/31/2024). He holds a bachelor’s degree in speech communication from Old Dominion University.
