Auto Enrolment Gold Rush – a lesson from history

Auto Enrolment Gold Rush – a lesson from history

In the mid-1800’s, word of the great American “gold rush” drew prospectors from around the world, all on a quest to seek out wealth and riches by discovering gold.

Untold wealth in the form of golden nuggets was waiting to be discovered, lying around in riverbeds, creek banks and even gold veins hiding in the depths of mining shafts.

Prospectors used to shout “Eureka!” each time they struck gold but quickly learned that not all that appears to be gold has a value. They would frequently find iron pyrite or “fool’s gold” as it became known, and it was worthless. Historians did not document what they shouted upon this discovery but rumor indicates it was a four letter word.

The smarter prospectors created two simple tests to quickly establish real gold from “fool’s gold”. Biting the gold to see if it was soft was one method as pyrite was hard and brittle. The other method was to scrape the nugget onto a white stone or piece of clayware. A golden nugget would leave a yellow streak whereas “fool’s gold” would not.

The implications of Auto Enrolment

We are now experiencing the UK equivalent of the great American gold rush – Auto Enrolment. All companies in the UK must take action and are waiting to be discovered by Financial Advisers. The financial opportunity is inarguably huge.

There are lessons to be learned from history though; all that glitters is not gold and you should not waste your time prospecting the wrong types of client. You need to quickly distinguish which clients are true gold.

There is a simple method to extract auto enrolment clients who will value your advice and pay for your services. It’s called Inbound Marketing. Find out how Inbound Marketing can do your prospecting for you.

Want to know more about Catalyst and Inbound Marketing?

Check out our official partnership with HubSpot