School’s in session. Time to shake up your routine.

As fall is upon us, it’s back to school and a regular schedule. Many of us take comfort in the predictable routines we learned in school. But relying on the same old routines at work may prevent you from finding new ways to grow and diversify your revenue stream.

We all do it. Approach the same type of client or sell the same product. It makes sense because you develop expertise and gain some efficiencies. But sometimes it’s good to shake things up and try something new.

One area that deserves a fresh look is defined benefit (DB) or pension plans, which can provide a significant opportunity for you to grow your business — and should continue to for a long time to come.

By working in this market, you can further differentiate yourself as a trusted advisor. And it’s easier than you think. Look at these three ways to help get started.

  1. Look at your existing 401(k) or 403(b) clients that have DB plans. Many organizations with DB plans also have a defined contribution (DC) plan. Specifically, look to those with different service providers. You can help make a plan sponsor’s life a little easier by finding ways to help make these plans work together more efficiently.
  2. Start the conversation with the CFO or CEO, not HR. Since a DB plan directly impacts an organization’s balance sheet, it’s likely to get the attention of the CFO and possibly even the CEO — which could give you a seat at the table for important strategy conversations.
  3. Offer a holistic approach. You can provide a fresh perspective in addressing challenges to get CFOs/plan sponsors moving toward an effective strategy for meeting their plan goals.

For more actionable ideas on how to help grow your practice with DB plans, check out our latest e-book. Then call your Principal® rep to get started.

Want a deeper dive into DB? Visit our full package of DB content too.

The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.

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