Giving Financial Professionals an Edge in the Rollover Market
August 8, 2006 (Des Moines, Iowa) — Recognizing both the tremendous opportunities and potential complications of the IRA rollover market, the Principal Financial Group®-the nation's 401(k) leader1 and total retirement solutions innovator-is hosting its second all-day IRA training conference for financial professionals. America's IRA Expert, Ed Slott, CPA, will present his IRA Leadership ProgramTM in Chicago on September 21. The Principal® is the first company to sponsor this invaluable IRA program for an entire day for financial professionals.
Slott, a nationally recognized IRA distribution expert and author, will lead the session with up to 300 select financial professionals. The IRA Leadership ProgramTM is a step-by-step process that teaches advanced IRA concepts and strategies. It helps financial professionals develop an action plan to use that knowledge to increase their client base and grow their IRA assets.
"This full-day session with the renowned Ed Slott is designed to make the financial professional the star," says Kyle Selberg, vice president of marketing, Principal Mutual FundsSM. "The knowledge and tools Ed shares, based on his work with thousands of financial professionals, will help our attendees attract and retain high quality clients. Everyone is going to be targeting Baby Boomer rollover dollars, and this training will equip attendees to differentiate themselves in a highly competitive market."
The Financial Research Corp projects 3.5 million individual rollovers will occur annually by 2010, amounting to more than $400 billion in retirement savings. Tapping into this extremely appealing opportunity requires specialized knowledge, as even well trained financial professionals may not be aware of the intricate IRA tax rules that could become tax traps for the individual.
The Principal will provide ongoing reinforcement to financial professionals through conference calls and newsletters as part of a broader program of support being developed. The company is also preparing to offer retirement income management training to financial professionals who want to help baby boomers transition from savings to income, and then to manage their income during retirement.
Attendees of the first IRA Leadership ProgramTM sponsored by The Principal in 2005 say it helped increase sales and build their block of business.
"This conference, the consumer-friendly books and on-going support from The Principal gave me the confidence to be an IRA expert. I've used Ed's advice with clients and it has helped me close several sales. This is one conference not to miss," said Randall Malone, CLU, ChFC, based in Milwaukee, Wis.
Ed Slott is the author of The Retirement Savings Time Bomb and How to Defuse It and Parlay Your IRA Into a Family Fortune. He is a professional speaker and regularly presents continuing professional education seminars on IRA distribution planning and estate planning at major conferences. Slott is the recipient of the prestigious "Excellence in Estate Planning" and "Outstanding Service" awards presented by The Foundation for Accounting Education. He is a past Chairman of the New York State Society of CPAs Estate Planning Committee.
About The Principal Financial Group
The Principal Financial Group® (The Principal®)2 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $206 billion in assets under management3 and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1) The May 2005 "Bundled 401(k) Buyer's Guide" published by Treasury & Risk Management lists The Principal as the 401(k) leader based on the total number of plans administered.
2) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
3) As of June 30, 2006.
