Business
Welcome to episode #40 of the Fiduciary U Podcast. My guest on this episode is Andy Hudson, the Managing Partner of 401k Champions and a well-known coach, consultant, and sales strategy expert to top 401k advisors, typically generating $1m+ in annual revenue. He started his consulting practice over a decade ago after more than a decade in the retirement industry at companies like John Hancock and Manulife. On the episode, we have a great discussion about practice management for retirement plan advisors and how they can work on their business instead of just in the business. We cover sales strategies like the importance of building a proprietary process to differentiate your practice, demonstrating deep expertise by diagnosing accurately so you can prescribe effectively, avoiding the urge to sell prospects on what services you offer instead of future outcomes you can achieve, and how to create a flexible narrative and messaging approach that can be applied to the unique needs of your prospects. Finally, we also discuss Andy’s consulting philosophy which is built around 3 pillars: sales and lead generation, service model and growth map and how advisors can identify their biggest business driver so they can focus on that area.