Jun 7, 2022
Wade Behlen is the Owner and Managing Director of Retirement Plans/Foundations at WealthPLAN Partners, an RIA that manages the retirement plans of over 250 companies across the country. Passionate about helping companies build “best in class” retirement plans, Wade has spent the last 15 years specializing in retirement plan advising with WealthPLAN and has been recognized as one of the Top 401k Advisors by Financial Times.
Wade joins us today to share his insights on the 401K and retirement planning industry. He describes his professional journey and explains why he switched careers from the medical field to retirement planning. He reveals the top reason advisors fail to sell retirement products and offers advice on how advisors can open conversations on retirement planning. Wade also discusses WealthPLAN’s efforts in supporting financial wellness education and outlines best practices for turning retirement plan participants into wealth management clients.
“The combination of aggressive and conservative investing works well in the 401k space, where you help business owners set the best types of plans while managing risk.” - Wade Behlen
This week on The Model FA Podcast:
- Wade’s career path and pivot from the medical field to the retirement industry
- Why being both an aggressive and conservative investor helps in the 401k sector
- The Pension Protection Act of 2006 and how the 401k space has evolved over the years
- The importance of relationships in financial services
- The difference between “specialists” and “dabblers”
- How WealthPlan partners with businesses and advisors
- How businesses and financial advisors eliminate risks by outsourcing retirement planning
- Business development and discovering retirement planning opportunities
- What cash balances are and how to start a conversation about retirement plans
- Why advisors fail to sell retirement plans
- Best practices for converting retirement plan clients into wealth management clients
- WealthPlan’s Auto-Educate program
Resources Mentioned:
- Book: The 7 Habits of Highly Effective People by Stephen Covey
- Book: The Dream Manager: Achieve Results Beyond Your Dreams by Helping Your Employees Fulfill Theirs by Matthew Kelly
- Fearless Investing Summit - Hosted by Riskalyze - Use Promo Code: ModelFA.com to save $50 on registration tickets!
Our Favorite Quotes:
- “Whether it’s partnering with someone regarding retirement plans or offloading marketing to a different company, it all comes down to leverage so you can grow faster.” - David DeCelle
- “Perception is reality. If I can be perceived as having a bigger team, it may edify me in the eyes of my prospects.” - David DeCelle
- “It’s difficult to sell a retirement plan in one call. Each advisor has to find their own story and comfort zone, but you have to be bold enough to ask those initial questions.” - Wade Behlen
Connect with Wade Behlen:
- WealthPlan Group
- App: Auto-Educate by WealthPLAN Partners
- WealthPlan on LinkedIn
- WealthPlan on Twitter
- Wade Behlen on LinkedIn
- Email: wade@wealthplan.partners
About the Model FA Podcast
The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams.
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Our Team:
President of Model FA, David DeCelle
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