Webinars Multiply Possibilities

Art by Jennfier Xiao

Chepenik Financial, the 2019 PLANSPONSOR Retirement Plan Adviser Large Team of the Year, is receiving more client requests than ever for educational webinars, says Jason Chepenik, managing partner at the firm, in Orlando, Florida. “At finals presentations, the executive team often says they envision this as the primary method to deliver information to participants,” he says.

“Webinars are popular,” agrees Mike Lynch, vice president, strategic markets at Hartford Funds in Charlotte, North Carolina. “There is no substitute for face-to-face meetings, but the pressure of time makes it hard to do them. A webinar offers an alternative way to get in front of many participants in a cost-effective way and, if it’s recorded, gives them the flexibility to view it at their convenience.”

Typically, 10% of participants attend a live webinar and another 5% to 10% view the recording, says Marcia Mantell, owner of Mantell Retirement Consulting Inc. in Plymouth, Massachusetts.

Chepenik Financial produces its own webinars, created by a Jorge Pereira, director of participant education.

“The process is long,” notes Mantell, “with lots of players involved,” which means that while large financial companies may produce their own events, it may be too much of an endeavor for a small firm.

If any adviser firm wants to skip the task of creating its own webinars, it can turn to many of the recordkeepers and investment managers that produce educational webinars for plan sponsors’ use.

For example, Hartford Funds has a staff of five to produce and participate in such webinars, plus go around the country to give presentations to retirement plan participants.

Topics typically include those focused on retirement, such as preparing financially, tax planning and applying Social Security and Medicare strategies, Lynch says. Other topics more broadly addressing financial wellness could cover debt consolidation, creating a budget, college funding and insurance, he says.

In addition, sponsors and participants have indicated a growing interest in the nonfinancial aspects of retirement planning, such as quality of life, managing longevity, caregiving, or five ways technology will change the way you age, he says. For these presentations, Hartford Funds has partnered with Massachusetts Institute of Technology (MIT).

Probably the best place to start when offering webinars, Lynch says, is to first survey participants to ask what topics they want to learn about. The next is to partner with a webinar provider, such as ClearSlide, WebEx, GoToMeeting, ON24 or one of many other options.

The next step is to send participants a notice or invitation for the webinar, with a URL link to join it, Mantell says.

Keep in mind timing, sources say. Some topics may need only 20 minutes while others might take 45 or more.

While the webinar is running, participants should have the opportunity to ask questions, Mantell suggests. Then, once it is over, the adviser should offer next steps, be they the opportunity to meet with him one-on-one or an announcement of another upcoming webinar.