How to Access 401(k) Plan Consultants: Strategies to Build Trust and Win Mandates

August 19, 2025

How to Access 401(k) Plan Consultants

4:13

Here’s a number that’ll grab you: As of Q1 2025, defined contribution plans, primarily 401(k)s, hold $12.2 trillion in U.S. retirement assets, compared to $8.9 trillion in public-sector pensions and just $3.2 trillion in private-sector defined benefit plans (ici.org). Meaning more capital is now flowing through DC structures than any traditional pension channel.

These consultants control shortlists, influence platform decisions, and have the ear of plan sponsors.

But here’s the thing: walking in with a product pitch isn’t going to cut it. Consultants want partners, not salespeople.

This is a long game, one built on value, trust, and consistency.

Here’s how to approach it.

Know the Consultant Landscape

Not all consultants operate the same way, so your approach needs to match their world.

National Consulting Firms – Big, multi-office players with national research and RFP teams.
Boutique Retirement Consultants – Smaller firms, laser-focused on DC plans, often with strong local influence.
Hybrid RIAs – Firms that serve both wealth and institutional clients.
Aggregator Platforms – Roll-up models with centralized decision-making and massive reach.

Pro tip: Map them out before you start knocking on doors.

Lead with Value, Not Product

Consultants don’t need another pitch deck. They need insight that makes them look good to their clients.

Show up with:

Data-backed trends (fee compression, product adoption, plan design innovations).
Competitive analysis (stable value vs. money market, TDF shifts, CIT growth).
Real solutions to plan sponsor challenges — not just “features.”

If you become a source of intel, you’ll get calls back.

Speak the DC Language

You can’t fake expertise here. Consultants expect you to know the details.

CITs – Growth drivers, operational hurdles, timelines.
Target-Date Funds – Glidepaths, custom builds, QDIA considerations.
Stable Value vs. Money Market – Risk, return, liquidity.
Fee Compression – What “race to the bottom” pricing really means for managers.
Open Architecture – How it’s reshaping menus and competition.

If you’re fluent, you’re credible.

Use Warm Intros (They Work)

A cold email to a consultant? It’s likely going nowhere.

Instead:

Ask trusted advisors for introductions.
Partner with record-keepers who already have relationships.
Network at events where consultants are speaking — and be ready with something worth talking about.

Warm intros shortcut the trust curve.

Track What They’re Working On

Consultants leave a trail — research reports, platform recommendations, DC market studies.

Following their work lets you:

Spot opportunities before they’re public.
Tailor your conversations to their priorities.
Reference their own published insights (instant credibility boost).

Play the Long Game

This isn’t about one meeting. It’s about showing up, year after year.

Share market updates without asking for anything in return.
Follow up with useful info after calls.
Be at the same industry events — consistently.
Relationships compound over time.

Nail Your Positioning When You Get the Meeting

When you do have their attention, you need a tight story:

Who You Are – One-line value prop + repeatable investment story.
The Retirement Landscape – Backed by credible third-party data (Cerulli, Callan, etc.).
Your Solutions – Directly mapped to their client needs (CITs, fee transparency, TDFs).
Platform Opportunities – Open architecture, model portfolios.
Fees & Implementation – Competitive, transparent, and fiduciary-ready.
Partnership Approach – Service model, thought leadership, consultant coverage team, RFP responsiveness.

Remember, you’re up against big names like Blue Owl and KKR. Be clear on why you’re different.

Bottom Line

Getting in with 401(k) plan consultants isn’t a one-and-done sales effort — it’s a process.

Understand their world. Bring insights they can use. Speak their language. And most importantly, play the long game.

If you do it right, you won’t just get on their radar — you’ll get on their shortlist.

To start calling on 401(k) consultants, book a demo of Dakota Marketplace here.

Written By: Morgan Holycross, Marketing Manager

Morgan Holycross is a Marketing Manager at Dakota.

The Database For Cold Outreach to Reach Institutional and RIA Investors

Book A Demo

How to Access 401(k) Plan Consultants: Strategies to Build Trust and Win Mandates