"I'm curious if advisors directly ask clients for referrals. I do not, currently, would prefer to let it happen organically, without pressure. But maybe I need to be a bit more direct?"

• You say: "What was the last time someone you know complained about a financial problem they were having?" (This works because everybody loves to complain about money.)
• They say: "My daughter just got a job with a 401k and no one has explained to her how it works."
• You say: "I'll write something up for you to send her to help solve the problem."

With IP you can have your own unique website and email to use with your clients!

This is not having a DBA, LLC or your own business name. Though that is possible to do with IP, I don’t recommend it as it is confusing for clients and much more compliance-intensive and costly. What were talking about here is simply having your own custom client/public website and the associated email address that you can use with clients. You are still representing yourself as working “for” Innovation Partners.

For example, my client web site is ClientFirst.pro, and the email I use with prospects, clients, the public and Docusign is michael@clientfirst.pro. My clients never see my IP email address. In fact, the only place that Innovation Partners appears is in the appropriate disclosures - I am never promoting IP ― only myself (this has been a thorn in my side with all previous B/D’s).

Who is generally eligible for a Solo 401k?

1. Only owners and partners (max three).
2. All owners and up to two employees.
3. All owners and up to five employees.
4. Unlimited, but restricted to owners and related family.
5. Only for one person, the owner.
6. Owner and spouse, or two partners.

Answer = 6