Matt's Story

Matt has been providing employee benefits for small business and mid size companies in the Des Moines, Iowa area for almost 26 years.

He started out selling healthcare plans to self employed professionals, like attorneys and CPAs, dentists and chiropractors.  But after a few years, several of his CPA clients began referring him to their small business clients, which led him into selling and servicing small group health plans.
One day he attended a BlueCross/BlueShield workshop, and shared lunch with Karl, another producer, who told him about WebPrez videos.  Karl told Matt that using WebPrez videos was doing three things for him:

  1. they gave him a competitive advantage with a prospective new company
  2. they helped him get into the 401k plan business
  3. they allowed him to develop the Voluntary Benefits packages for employee groups

Karl disclosed that by expanding his business with 401k plans and voluntary benefits, he had increased his revenue enough to afford a full time assistant who handled all the enrollment issues.

So when Matt got back to his office, he did his due diligence on WebPrez - and was impressed with the quality, as well as the range of topics he could use to expand his business . . . not only by adding more benefits to existing clients, but also to prospect for new clients through pension plans and voluntary benefits, which would eventually offer the opportunity to take over their company health plans.  So he decided to give it a try. 

Matt did not know much about pension plans - especially all the regulatory issues required to sell and service 401k plans.  But his buddy Karl was already working with a local TPA (third party administrator) that he would simply bring in and introduce to his business clients, and the TPA would advise the client, put the plan together, set it up and handle all the compliance and administrative responsibilities.  So Matt began to methodically meet with every one of his business clients, regardless of the number of employees, and simply show them either the 401k video or the 412e3 video.  And for those who already had a 401k plan, he would show the Cash Balance video, which is designed to be installed on top of a 401k in order to increase the benefits for the business owners.

Consequently, Matt took over his first 401k plan in his second month, installed his first new 401k plan in his third month, and added 19 retirement plans in his first full year using the videos.  But he also did the same thing with the Voluntary Benefits video.  He began showing this video at every annual review, as a way to help the HR manager or owner to enhance the employee benefit packages without increasing their budget allocation.  He also found the Split Funded video and the Benefit Exchange video very useful in explaining options when the rate increase was too high.

Matt discovered that business owners love the brevity and clarity of the videos, and that the videos make it easier for them to make decisions - especially when there is more than one person involved in the decision process.  And the videos make it relatively easy to sell voluntary benefits to the employees. Because Matt can either project the videos from a laptop to a screen when meeting with a group of employees, or he can have the HR manager email a set of videos to each employee as either a survey or a choice of supplemental benefits under a section 125 payroll deduction plan - for which there is also a video.
And the videos have enabled him to expand his business even further by also offering his clients Executive Benefits and Business Succession planning using cash value life insurance.

Matt has been using WebPrez videos for eight years now, and sites the following topics as the ones he uses most often:

Simple 401(k) Plans
401(k) Rollovers
412(e)3 Pension Plans
Cash Balance Plans
Split Funded Plans
Benefit Exchanges
Section 105 HRAs
Voluntary Benefits
Payroll Deduction
Health Savings Accounts
Critical Illness
Accidental Injury
Hospital Indemnity
TeleMedicine Services
Dental & Vision Plans
Group LTD
Supplemental Life & Accident
Key Man Coverage
Executive Bonus Plans
Business Succession

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