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Other than record keeping wholesalers, what other distribution channels are you having success with?

Russell Hooker, EVP, Nova 401k AssociatesIndustry Leader Interview, with Russell Hooker, EVP Nova 401k Associates

Dawn Hynes Question:

What about the DC-IOs, with fewer wholesalers to tap into on the on the record keeping side are you making more of the DCIO opportunities and what about like the possibility of partnering with these annuity providers that are starting to come into play in the market?

Russell Hooker Answer:

There are less of those jobs (DCIO) out there, but the ones that are out there, they’re looking for the same things we all are and that’s to expand their network.  So, we have found those folks to be big allies, getting them to think outside the box.  The annuity sell in my mind has always been more transactional, where the 401k plan sales is more of a relationship sale, so we just think differently.

I don’t think I’m telling any secrets, but you find some really good payroll partners out there and those guys are hungry.  They’re looking to grow their business and they’re calling on some of the same people we are.  We’ve done a lot of events recently, two different events in two different cities with two different payroll companies so I think those guys represent a big opportunity to network as well.


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