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COLLEGE SAVINGS 101

Yes, you can teach an old dog new tricks

Posted: 2014-06-05

by Joseph Hurley

Yes, you can teach an old dog new tricks

Financial Professional Content

This old dog was presenting a teleconference last week to an audience of financial advisors on behalf of John Hancock Freedom 529 when I heard some 529 marketing ideas that seemed particularly useful.

And they had nothing to do with the benefits of 529 plans.

Peter Hughan, 529 Sales Director at John Hancock Freedom 529 shared a couple of "office decorating tips" with the audience. Both ideas are aimed at the goal of getting your clients to ask you about education savings instead of you having to initiate the discussion.

The first idea is to line your office walls with college and university insignia (hats, shirts, or banners) along with a placard under each insignia that displays the projected four-year cost of that institution in 18 years and the amount that would have to be set aside each month in a 529 plan to fully fund that cost. Clients are sure to notice your display and, before the shock wears off, ask what they should be doing about saving for college.

The second idea involves creating a bulletin board with photos of clients' children and grandchildren that you have helped in saving for and attending college. This can be a combination of baby pictures and graduation photos.

I'm sure that Peter did not think up these ideas; rather they are examples of what financial advisors are already doing to grow their 529 business and help their clients. If you have any other good marketing ideas, submit them here or in the comment section below and I will include them in a future 529 Pro Update.

Photo credit: Julie Vader/Shutterstock

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