1. Form 5500 databases (highest scale, fastest ramp)
Every U.S. retirement plan files Form 5500 publicly. A Form 5500 database lets you filter 917,000+ plans by fee grade, asset size, industry, and state — turning the entire universe of overpaying 401(k) plans into a searchable, scoreable, contactable lead list.
This is the highest-leverage outbound source for most advisors. You can identify a Grade D plan, pull the decision maker's verified contact info, and send a personalized email with quantified savings — in under 5 minutes.
- →Pros: Infinite scale, every plan is sourced, fully outbound-able
- →Cons: Cold outreach has a 5–15% close rate; long sales cycle (6–18 months)
- →Cost: Pay-as-you-go ($25 entry) to enterprise contracts ($5k+/year/seat)
2. Referrals from existing clients
The highest-converting source by far. A 401(k) plan referred by a current client closes at 30–50%, vs 5–15% for cold-pitched plans. The catch: referrals scale linearly with your client base.
Make explicit referral asks at quarterly reviews. Most plans known to your client through their professional network (CPA, attorney, business partner) won't come up unless you ask.
- →Pros: Highest close rate; warm intro shortens sales cycle
- →Cons: Capped by current client base size
- →Cost: Free; opportunity cost is the time spent asking
3. CPA / attorney partnerships
CPAs and ERISA attorneys see plan financials and sponsor pain points in their daily work. A revenue-share or formal referral relationship with 3–5 CPAs covering your geography or vertical can supply a steady trickle of qualified leads.
The catch: takes 6–18 months to develop these relationships, and most CPAs already have an advisor referral partner.
4. Industry-vertical content marketing
Long-form content (blog posts, LinkedIn articles, podcasts) targeting a specific industry vertical builds inbound flow over 12–24 months. A "401(k) benchmarking guide for manufacturing companies" with real fee data outranks generic advisor pages and brings in plan sponsors who self-identify the problem.
The most underrated source for advisors who hate outbound but enjoy writing.
5. LinkedIn outbound
LinkedIn Sales Navigator + Apollo (or similar) lets you target CFOs and HR leaders at companies in your geography or industry. Connection acceptance rates are 15–25%; conversion to meetings is 2–5%.
The gap: LinkedIn doesn't tell you which companies have overpriced 401(k) plans. Layer Form 5500 fee data on top to filter LinkedIn lists down to "CFOs at companies with Grade D plans."
6. Trade-show / conference presence
Industry events (SHRM, NAPA, regional CFO roundtables) put you in front of plan sponsors directly. Lead quality is high but volume is low — typical event yields 3–10 qualified pipeline opportunities.
Works best as a relationship-building investment, not a primary lead source.
7. Recordkeeper / TPA partnerships
Recordkeepers and TPAs sometimes refer plans they can't serve directly (size too small, conflict of interest, etc.). Building a few of these relationships can supply 1–2 leads per quarter.
Low volume, high-quality leads. Often comes with conflict-of-interest constraints (can't replace the recordkeeper as part of the takeover).