401k Help for ‘Two-Plan Tonys’

For those new to the business and looking to grow, a program is here to help

401k, retirement, help, CeteraHe has no idea what he's doing.

Financial advisors who dabble in 401ks are often (and somewhat derisively) referred to as “two-plan Tonys.” They’ve stumbled upon a plan here and there but are far from specialists; maybe a wealth management client owns a business and has asked for help in implementing a plan.

But for those new to the business and looking to grow, Cetera Financial Group can help. The independent broker-dealer network announced the launch of its “401(k) Practice Development Program” for advisors currently serving retirement plans, as well as those seeking to expand into this market.

“The program, which features a robust curriculum of live, web-based training sessions supplemented by industry-leading resources and tools, has been developed with Nationwide Financial and leading retirement plan advisory consultancy KnowHow 401(k) to accelerate the growth of Cetera advisors’ 401(k) businesses,” according to Cetera.

It’s offered at no additional cost to Cetera advisors and is part of Cetera’s Retirement Plan Solutions offering, consists of six live, web-based training sessions conducted over a three-month time frame by KnowHow 401(k) founder and Managing Director Chris Barlow, “a widely recognized expert in helping advisors build and strengthen their retirement plan advisory businesses.”

Each session will cover crucial topics such as business planning, marketing, meeting with plan sponsors, and more.

Enrolled advisors will also have access to KnowHow 401(k)’s resource center and will receive support during and after the program from Cetera’s Retirement Plan Solutions consulting team, who will be available to help them implement the strategies and tactics they learn.

“We are very pleased to launch our innovative and comprehensive new 401(k) Practice Development Program,” Jon Anderson, head of Retirement Services at Cetera Financial Group, said in a statement. “This program provides another powerful demonstration of Cetera’s long-term commitment to supporting our retirement plan-focused advisors, as well as those seeking to develop a presence in this market.”

Calling the response so far “tremendous,” he noted that approximately 250 advisors have attended each of the firm’s initial live training sessions.

“We are very excited to work alongside Nationwide Financial and KnowHow 401(k) to bring this vital new offering to our advisors.”

Cetera adds that it’s the only network of firms supporting independent financial advisors with its own in-house third-party administrator (TPA) offering.

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