Success Story: How One Phone Call Led to a $1.6 Million Sale
As the saying goes, sometimes it's not what you know, it's who you know. For Bryan Walton of LifeSource, that couldn’t be more true. With just one phone call to his RMS wholesaler, Don Reed, Walton landed a $1.6 million sale.
Last spring, Walton's client, a large assisted living group, was in need of a better retirement plan. Though Walton didn’t have experience selling retirement plans, Reed was a seasoned retirement wholesaler who offered a quality product and exceptional sales support. So Walton picked up the phone.
"The plan only had 200 participants," Reed said. "But we soon found out the client had over 1,000 qualifying employees spread throughout their various hospices and assisted living facilities.
Reed began working on behalf of Walton, illustrating the strength, breadth and reliability of Mutual of Omaha's retirement products and how they could better service the client's participants. The client was impressed and soon made the decision to switch carriers.
"It's a million dollar case right now," Reed said of the hospital group, "but it likely will be even bigger once we raise participation rates through interactive enrollment meetings, ongoing participant education and superior customer service."
The relationship between Walton and Reed is mutually beneficial. Walton now has a broader product portfolio to offer existing clients, and Reed has a new advisor in his network. Walton gets the commission, while Reed is the one who sets up the plan and works with the plan sponsors to iron out the details. In just six months, Walton has enabled Reed to send out seven proposals, one of which resulted in the $1.6 million sale.
Have a success story you'd like to share? Send an e-mail to thearrow@rms401k.com
