Mass mutual guy came out other day and insisted 401k plans was where it was at. All other advisors say it's waste of time. What's what guys?

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My opinion- 401k plans are like the hot girl you always wanted to take home. Then you do and it's a disappointment. Chase owners of companies and if you end up backing into 401k business, okay that's fine. Don't chase them. I used to and landed a decent 2 million dollar plan for my area, then later I gave it away. A 2 million dollar plan pays you about the same as a 500k managed account and those are much easier to move/service. Plus, let's be honest, you don't know shit about them and there's better things to learn at your stage. I was always "faking it" with 401k plans. I'd recommend you chase retirees with 500-1 mil at your stage as they are the low hanging fruit IMO. Oh and stop taking wholesaler meetings except the 1 or 2 that give you business building ideas

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I am seeing more and more plans being managed at 15-25 bips these days. Even smaller ones. Unless there is some strategic value in the plan (ie. Owners are clients, participant base is valuable for rollovers, you manage workplace benefits, etc.) then you need to do some serious volume to make them worth it.

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