While National 401(k) Day is a good trigger to spur action from sponsors and participants to improve retirement readiness, the efforts should be ongoing.
Entrepreneurs cannot count on selling their business to fund their retirement, according to a survey conducted by The American College on behalf of BMO Harris Bank.
Although the 404(a)(5) participant fee disclosure deadline has passed, advisers continue to play an important role in helping plan sponsors and participants understand fee disclosure statements.
Although plan sponsors are reluctant to completely overhaul their plans, evolving defined contribution (DC) plans are creating challenges and opportunities for advisers, a report found.
Schwab Advisor Services scheduled ‘Insight to Action’ training classes that focus on strategic planning, client profitability, transitioning the team and technology.
Advisers can help retirement plan sponsors with the task of creating the most effective plan for participants and maintaining a plan compliant with various regulations.
“There is still tremendous opportunity for advisers in the 403(b) space, particularly among smaller plans,” says Aaron Friedman, national non-profit practice leader, The Principal.
Through a national “listening tour," Transamerica Retirement Services has identified the most common trends among financial advisers in the retirement industry.