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Retirement Sales Process and Roles at Transamerica

Learn about the sales process and roles at Transamerica including prospecting, proposal, presentation, and closing of retirement plans. Understand the vital role of sales consultants in leveraging relationships, expertise, and localized support. Explore the ERISA support and expertise provided by Transamerica to help you navigate complex plan questions and ensure compliance.

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Retirement Sales Process and Roles at Transamerica

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  1. Sales Process & Sales RolesPeter Sullivan - RVP East Region The Ritz-Carlton, Huntington Hotel & Spa , Pasadena, California Sept.29 – Oct. 1, 2003

  2. TRS Retirement Sales Cycle • Prospecting • Proposal • Presentation • Closing

  3. The Sales ProcessThe Transamerica Advantage- We provide the RESOURCES you need • External Sales Consultant • -Working To develop Opportunities • Internal Sales Desk • -Supporting The Sales Process • ERISA Hotline • -ERISA Expertise For Producer Use Only. Not For Public Distribution.

  4. The Sales Consultants Role • The External Sales Consultant: • Develop Relationships with Intermediary’s • - 400+ Selling agreements • - Life Licensed Brokers- Unlimited • - Group Benefit Producers • - Targeted Relationships • Who is in the Pension Market Everyday?

  5. The Sales Consultants Role • NO ONE! • WHO IS? • THIRD PARTY ADMINISTRATORS

  6. The Sales Consultants Role • Over 45 Sales Consultants in 34 Field Offices • ERISA Trained • Many consultants have recordkeeping/administrative background • Understand the value-added of TPA support and local presence

  7. The Sales Consultants Role • Our people provide SALES-FOCUSED SUPPORT • that helps close cases • Pre-Sale Takeover Reviews • Joint Client Presentations • 40% Close Ratio with Transamerica Consultant present

  8. The Sales Consultants Role • Our Sales Consultants understand the • Four Pillars of a Retirement Plan • Plan Design • Investments • Administration • Employee Communication

  9. The Sales Consultant Role • The External Sales Consultant/ TPA Partnership: • Leverage: • - Relationships • - Expertise • - Localized support • WIN/WIN

  10. The Sales Consultant Role • Marketing Support: Get the word out • Joint Seminars • -Training/CE Seminars • -Plug & Play • Announcement Letters To Producers • Referrals PROSPECTING • Proposal • Presentation • Closing

  11. The Sales Consultant Role • Support TPA/Broker: • Leverage TPA’s Plan design Expertise • Be available for fact finding/review/Presentation • Represent & Support The TRS Product/TPA Relationship • Close The Business

  12. . Services Wherever You Need Us – Nationwide Transamerica Retirement Services Regional Pension Offices Atlanta Boston Charlotte Chicago Cincinnati Clearwater Cleveland Dallas Denver Detroit Elgin, IL Fort Wayne Greensboro Houston Kansas City Long Island, NY Los Angeles Miami Minneapolis New Orleans Newport Beach Orange County Orlando Paramus Park City Philadelphia Portland San Diego San Francisco Seattle Torrance Washington D.C.

  13. Internal Sales Deskis available when you need it • We provide expedient, ONE STOP EXPERTISE • Your Internal Sales Consultant is always available • Nationwide coverage through our Los Angeles office • Standard proposals processed in 48-hours • Instant access to ERISA expertise • Instant access to product knowledge

  14. Internal Sales Desk Role How to Fact Find proposal requests - requires repeating the “basics” each time. - Clarity in Setting Expectations - Work with TPA Plan Design Specifications • Commission Options • Underwriting Requirements • Prepare and Deliver to Meet Schedule • Incorporate TPA Fees in Proposal • Review with External Sales Consultant • Assist with NCP Runs if Applicable Prospecting • PROPOSAL • Presentation • Closing

  15. Internal Sales Desk • Your constant resource at Transamerica Retirement Services • From Proposal to Sale: • Proposal Generation • Plan Design Illustrations • Pre Sale Questions • Proposal Review and Revision • Sales Consultant Schedule • Closing Assistance

  16. ERISA SUPPORT • ERISA HOT LINE: • - The consulting Service That’s FREE • - A Resource to help you answer those tough Questions. • - PRE- SALE or POST SALE

  17. 5 ERISA Specialists 130 years of combined ERISA experience General ERISA Questions Pre-Sale/Takeover Review Ongoing Consulting ERISA Call Center… “The Desk” 7 Compliance Analysts 145 years of combined ERISA experience Legislation Monitoring Plan Document Management Frequent IRS interaction ERISA SUPPORT

  18. ERISA trained professionals in 34 offices nationwide Focus on helping you build your business Intensive ongoing training Solve everyday plan issues through creative plan design alternatives Expert ERISA Support in the Field

  19. ERISA Expertise - Don’t be Merged Out • Mergers, Acquisitions & Spin Offs • Qualified Plans tend to be an afterthought • Transamerica can guide the process • Work with outside counsel • Review Plan Document • Review Purchase Agreement • ERISA Due Diligence Checklist • Be Proactive

  20. ERISA Expertise – Complex Plan Questions • Controlled Group Issues • Legally excluding employees • Protected Benefits • Complex Testing Issues • Document Issues • And Much More

  21. Your Portal to ERISA Expertise • You don’t need to know all the answers… • …just where to get them! • Transamerica’s • ERISA Help Desk! • Retirement Consultants • Internal Sales Consultants

  22. Transamerica. The Retirement Answer • Call your TRS External Sales Consultant • or • Call your Internal Sales Consultant • 888-401-5826 • Proposals • ERISA Desk • Prospecting Materials

  23. The Close is just the beginning • - Employee Education • - New Business Installation • - Client Services Role

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