The Hartford Launches Educational Campaign for High Net Worth Professionals

The campaign, “Take Charge, Not Cover,” encourages professionals to take control of their financial destiny and provides financial advisers with a broad range of tools to help meet the special retirement planning needs of high-net-worth individuals, especially the owners of professional practices. The Hartford’s campaign educates advisers on the new financial challenges that professionals face as both individuals and owners of small businesses, and helps advisers understand what retirement savings strategies make the most sense for professionals.     

According to a news release, the campaign is supported by several resources: 

• Educational materials to explain the common concerns of professional practices, including the impact of new taxes associated with health care reform, outline potential solutions available from qualified retirement plans, and provide tips on how best to maximize professionals’ time in individual meetings; 
• A special calculator that illustrates how alternate retirement plan designs can increase both the amount of personal retirement savings and tax savings; 
• A search engine that helps financial advisers identify local professional practices that can benefit from new retirement plan designs; 
• A nationwide network of 70 regional sales directors who specialize in consulting financial advisers about in corporate retirement plan strategies; and 
• A nationwide network of Third Party Administrators with expertise in alternate retirement plan designs, including cash balance plans. 

The search engine, available through Larkspur and accessible through hartfordinvestor.com, helps financial advisers identify professional practices in their area that may benefit from alternate defined contribution plan designs, cash balance plans, or both.  Advisers can target professional practices that do not currently have an alternate plan design, as well as those that do and may benefit from a plan review.    

The directory also allows advisers to focus on specific types of professional practices or types of businesses.  There are no costs or requirements to have previously worked with The Hartford to take advantage of the system, the news release said.  

With the calculator, financial advisers can quickly demonstrate the impact an alternate retirement plan design can have on a professional firm and its owners.  Using various hypothetical annual contribution amounts on behalf of all employees, the calculator illustrates potential annual tax savings for the firm as well as the potential additional retirement savings for the business owner.