401k Clients & Accounts



The SECURE Act of 2019 provided provisions and incentives for 401k plans for small businesses. Since its passing, there’s been a noticeable uptick in the number of small businesses providing 401k plans and employees participating in those same 401k plans. This also created a greater demand for 401k education and support surrounding those plans giving advisors yet another service to diversify into. The following is how to handle 401k clients & accounts in Redtail CRM.


1. Create Contact Status for 401k Participant

Note: You must be a Database Admin to create new Statuses for your database.

Can I add additional Contact Statuses to my database?



2. Create Keyword for 401k Participant

Note: You must be a Database Admin to create new Keywords for your database.

How do I add new Keywords to my database?



3. Add Business Type Contact for 401k plan



4.  Add 401k Participants as Contacts. Be sure to include the following data points:

Employer = (Name of 401k plan in Step 3)

Status = 401k Participant or Active Client

Keyword = 401k Participant



5. Use Advanced Search to search for the following:

Advanced Search in Redtail

Redtail Essentials: Advanced Search [24:33]



6. Click save to create a Quicklist to easily access this list for future use

How do I create saved searches (QuickLists) for repeated use in Redtail?



Bonus #1: Tracking 401k's on an Account Level

1. Manually add 401k accounts to the contact record of the 401k participant. Note: If you have a Portfolio Management or Custodian Integration that aggregates 401k accounts you can skip this step



2. Update the Account(s) to reflect the proper Type and Tax Qualified Type



3. Run Accounts by Type Report filtered for the Account Type “401k”



Bonus #2: Tracking and creating lists (PDF) of all 401k relationships

1. Add a membership option for the different types of relationships you want to track. Examples include “401K Provider”, “401K Participant”, “Third Party Administrator”, “Record Keeper” etc. 



2. Link the 401K Provider to related contacts through Memberships



3. Run Membership Report using Common Tasks 



[Add Graphic]


[Add Note Template]

401k Support


Type: Incoming or Outgoing

Summary of Request:

Summary of Action Performed:

*Be sure to link the 401k plan as an additional linked contact below

Category: Account Support

Action: Link 401k Plan as an Additional Linked Contact


Your Quicklist will provided you a quick way of viewing all participants in a 401k plan. Using Contact Options, we can use a variety of Redtail tools such as Labels, Mail Merge, Reports and Broadcast Email to help communicate to the participants of each plan we manage.

Download a PDF version of these instructions below! 

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