Every time I’ve spoken to other plan providers about sure things they are working on, all I later see are missed opportunities. There are no sure things in this business, there are opportunities.
Even when you have a signed contract with certain retirement plan projects such as starting a new multiple employer plan, it’s still not a sure thing because you still got to bring assets over to make a go of it. The sales process is long, tedious, and at certain points, not fun. It’s a marathon with enough twists and turns because selling retirement plans isn’t the same as selling products that are impulse purchases like candy at the supermarket checkout line.
I’ve seen many opportunities fall by the wayside that was supposed. to be sure things because of the cockiness of the provider and them counting their eggs before they’re hatched.