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On Christmas Day, the New York Stock Exchange and Capital Group’s U.S. offices will be closed.

In observance of the Christmas Day federal holiday, the New York Stock Exchange and Capital Group’s U.S. offices will close early on Tuesday, December 24 and will be closed on Wednesday, December 25. On December 24, the New York Stock Exchange (NYSE) will close at 1 p.m. (ET) and our service centers will close at 2 p.m. (ET)

Identify the retirement plan solution that meets your clients’ needs

Understand the needs and preferences of potential retirement plan sponsors to find a plan that’s right for them. Follow these steps to gather the information you need to deliver the best retirement solution.

1. Gather the information

How to do it:

  • Prior to meeting, put together a list of key questions to ask, such as:
    • How many employees do you have?
    • What are the assets in the plan?
    • How much is being contributed to the plan every year (by employer and employee)?
    • If you have an existing plan, who is the provider?
    • What’s working/not working with the plan?

  • During the meeting, document the responses to your questions. Let prospects know that you will use the information to create a customized proposal.

  • Close the meeting by:
    • Thanking prospective clients for their time
    • Letting them know that you will follow up within two weeks to present your proposal

2. Find the right plan type for each client

How to do it:

  • Consider the best solution for each prospect. Options may include:

    • 401(k) plans are open to all types of businesses and offer the most flexibility (in terms of contributions, loans and vesting, for example).
    • Solo 401(k) plans offer many of the advantages of a regular 401(k) for a company that does not have employees.
    • 403(b) plans are available to certain nonprofit organizations (for example, public schools and churches).
    • Money purchase and profit-sharing plans allow employer contributions only.
    • SIMPLE IRAs and SEP plans may be best for smaller businesses (those with 100 or fewer employees) that require an easy-to-use plan.
    • Payroll deduction IRAs allow employee contributions only.

  • If you have selected a 401(k), 403(b), money purchase or profit-sharing plan, learn more about Capital’s solutions, RecordkeeperDirect®, designed for simplicity and smaller plans, and PlanPremier®, with robust features for plans of any size.

Resources to use:

Comparing Retirement Plans (Brochure) — Explain plan features, learn contribution limits and obtain a glossary of terms.

Compare Recordkeeping Solutions — Determine which solution best meets the needs of the plan.

Compare SEP and SIMPLE IRAs — Demonstrate key features and differences between SEP plans and SIMPLE IRAs.

3. Price, compare and sell Capital Group 401(k) plans with a single resource

How to do it:

  • Visit Retirement Planalyzer®, a convenient, comprehensive resource to price, compare and sell 401(k) plans with Capital Group. This tool makes it easy to:
     
    • Compare solutions and share classes with an estimated fee quote of first-year plan costs or a detailed presentation, which highlights plan features and costs over time.
    • Create a fund lineup to propose or review in a report with returns, expenses and other details.
    • Order a formal retirement plan proposal, which you’ll receive in a day.
    • Customize any of these presentations with your information on the cover page.

Supporting products & solutions

401(k) and 403(b) Plans

Fiduciary Services

American Funds Target Date Retirement Series

Other resources

Create a Clear Value Proposition for Your Retirement Plan Practice

Deliver a Winning Retirement Plan Finalist Presentation

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Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
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This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.