Fulcrum Self-Directed (FSD) is always looking for great partners. You can benefit by being a FSD partner and receiving referral compensation for introducing/educating your clients as to the benefits of establishing a self-directed IRA or 401(k) through Fulcrum Self-Directed. While certainly not bound to only these industries, the following professions are natural partners to Fulcrum and the self-directed industry:
Real Estate Agents — As a real estate agent, you are both a natural client and partner with FSD. A potential client in that you are self-employed and are actively aware of self-directed opportunities, especially in real estate. You can capitalize on the benefits of establishing your own self-directed 401(k) plan. Many agents enter the industry from previous employment with a W-2 employer. They may have IRA or old 401(k) plans that they can rollover into their new 401(k) plan. This will provide them an instant source of funds to utilize for investments while they make future contributions from real estate sale commissions.
Even if you elected not to establish your own 401(k) plan, you are still a natural partner to FSD because you have a client data base for your business that, typically, is uneducated in this arena. Not only can you introduce them to their ability to invest into real estate and enrich their life, you can educate them on their ability to use “alternative funds” for this investment. In addition, many individuals would have the interest to invest in real estate, but may not have liquid, non-qualified funds in which to do so. By being introduced to the self-directed opportunity, they may now have the opportunity to invest into real estate utilizing their IRA or 401(k) funds…and utilize your services as the real estate agent on the transaction!
This is an arrow that each real estate agent should have in their quiver.
Insurance Agents — As an insurance agent, you also may “fit the box” of being both a client and partner. Most insurance agents are 1099 professionals who merely represent various insurance companies and their products. Being self-employed, you too have the opportunity to benefit your retirement planning by establishing your own self-directed retirement plan.
Also, similar to the real estate agent, you can benefit in other avenues other than receiving referral compensation. There exists the opportunity to introduce various insurance products and strategies to your clients. While an IRA cannot invest into life insurance products, there are many strategies available with life insurance to enrich your clients retirement planning. As a professional insurance agent, you can guide them on various insurance products that can be held within their 401(k). The introduction of certain life insurance products may be in the best long-term interests of your clients. This introduction will be of potential benefit to both you and your client. Bottom line, by introducing the concept of such plans, it may assist the insurance agent to open the door to other types of insurance planning…regardless of whether a self-directed strategy was involved.
CPAs & Attorneys — As a CPA or attorney, you work with clients who may greatly benefit from such plans. Whether it compliments estate planning issues or maximizes their potential investment returns, self-directed plans are plans that your clients may be looking to establish. Through proper planning, you may not only be assisting your client with what they may desire, but your tax or legal guidance in the process may create additional compensation for your business.
401(k) Sales Professionals — Yes, you heard that correctly. As a sales representative, you may be a W-2 salaried employee who sells 401(k) plan platforms to companies offering 401(k) plan benefits to their employees. Your salary or commission may be based on all assets staying within the plans that you sell. However, by introducing the concept of a self-directed 401(k) plan to a business owner, you may show the owner that you truly care about their overall goals for themselves and their employees by introducing the concept as a potential opportunity.
Not only may this introduction lead to greater client retention, it may also lead to additional B2B referrals.
Charitable Organizations, Fundraisers & Fundraising Opportunities — Charitable organizations and fundraisers certainly should know about the use of retirement plan giving strategies….the question is whether they introduce this option to their donors. The simple fact is that the charitably-minded individual who has both taxable and non-taxable funds should almost always consider gifting their retirement funds to a charity (taxable funds) vs. non-qualified (non-taxable funds). The reason being is that retirement plan funds will, either in the short term or long term, be taxed by Uncle Sam. Gifting of retirement funds is not actively promoted as much as it should be with prospective and active donors.
The charitable organization fundraiser fully implementing the strategy of retirement plan gifting not only may be enriching the life of the donor, but also may introduce tax-advantaged strategies for such gifting. Again, another important arrow in the fundraiser’s quiver.
Are You a Contributor?
Finally, FSD is interested in hearing from you if you are an educator. Maybe you write incredible content on a related subject matter and wish to share your information with FSD prospects and clients?! We would love to visit with you as well about sharing your content.
Drop us a line and let’s visit about how to increases your business through a professional relationship with FSD!