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With the surge of baby boomer retirement has come a noticeable increase in rollover activity as retirees move savings from 401(k) plans to individual retirement accounts (IRAs).
Auto-escalation is hitting its stride, but what more can be done to increase deferral amounts?
Are consumers ready for on-demand, pushed mobile retirement advice and one-click deferral escalations? Some research says yes, but other experts say, “Not so fast.”
As if advisors didn’t have enough to worry about with the fiduciary rule, experts warn that they’d better have a firm understanding of ERISA 3(21) and 3(38)—read why.
All signs point to auto portability as the next big thing to shore up 401(k) participant behavior. Most simply, auto portability entails an automated plan-to-plan retirement savings transfer (sometimes via a safe harbor plan) when workers change jobs, and is touted as a way to reduce plan leakage.
Millennials are now the largest generation in the U.S. Sabrina Lowell, CFP, advisor and COO at Mosaic Financial Partners, describes millennials' financial priorities and how they differ from those of previous generations.
The companies that have faced fiduciary-related lawsuits read like a who’s who across fast-growing industries. Now, litigation is targeting small to midsized plans at architectural firms, medical practices, auto collision shops and similar businesses. This trend should put every 401(k) advisor on high alert.
The ranks of financial advising are expected to grow 30 percent between 2014 and 2024—more than four times as much as the average growth rate for all occupations. So, advisors will need to find better ways to market and differentiate themselves. Here are a few ways to go about it from noted advisor marketing experts.
Collective investment trusts (CITs) are fast becoming the darlings of the 401(k) and pension marketplace, as they are now an option in more than 70 percent of plans.
In this interview with 401(k) creator Ted Benna, he gives his no-holds-barred opinions on the topics affecting financial advisors and plan sponsors today.
In March 2016, just one month before the Department of Labor’s (DOL) issuance of the new Fiduciary Rule, Fidelity Research released a report that showed a whopping 73 percent of financial advisors were concerned the Rule would negatively affect their business. And it appears their worries were justified. Here's why.
Despite being in existence for 40+ years, the stable value fund (SVF) is once again the popular kid on the 401(k) investment block. Thanks to rising interest rates, the funds are increasingly viewed as the low-risk darling of 401(k) plans.
As executive chairman of fi360, Blaine Aikin has become a standard bearer for the fiduciary movement and the Department of Labor (DOL) Fiduciary Rule. Aikin and fi360 watched the rule’s development closely and were part of the financial community that provided comments and recommendations to the DOL from the first drafting stages. Here's how Aikin feels the rule will affect financial advisors.
After months (some would say years) of speculation, the Department of Labor (DOL) issued its final iteration of the fiduciary rule, which aims to ensure clients’ financial needs are put first. The changes may present an opportunity for financial advisors who fully understand the rule.
This infographic uses a food preparation metaphor to make it easier to understand the difference between the different types of ERISA fiduciaries.
Last year, a much-watched legal case on the U.S. Supreme Court docket pitted employees versus employer while questioning the timeline for 401(k) fiduciary responsibility.
While retirement plan advisors often focus on high-net-worth accounts, competition for these clients is more intense than ever. The result? Small-market 401(k)s are becoming an increasingly solid source of business.
In this highly regulated environment, even the best-intentioned plan sponsors can inadvertently get tripped up. Avoid these common mistakes plan sponsors make that catch the attention of government agencies.
The Supreme Court’s May 2015 decision on Tibble v. Edison has major implications for retirement plan advisors, despite the fact that it was, essentially, simply a procedural ruling.
"Save for retirement” has always been a popular mantra among advisors. A subtle cognitive shift, however, has the industry looking at how they can better help 401(k) plan participants with distribution retirement – or, put more simply, teach them how to spend in retirement.
Financial wellness isn’t just a feel-good benefit; it's become a workplace necessity with real bottom-line impact, according to Bill Chetney, CEO of GRP Advisor Alliance, and a Bank of America Merrill Lynch Workplace Benefits report.
Mutual fund-based target date fund (TDF) assets climbed to a record $790 billion in Q1 2016 (up $27 billion since January), with TDFs in defined contribution plans accounting for nearly 68 percent of that amount. Are target date funds a clear 401(k) choice for advisors and participants?
What does a plan sponsor want from an advisor? MassMutual Financial Group released a report designed to help “retirement plan advisors succeed by identifying what motivates plan sponsors to work with a plan advisor.” Here's what they found.
If your business is struggling to attract and retain top performers, adding retirement benefits or upgrading existing benefits could be the key to closing your company’s talent gap.
Integrating your existing payroll data with the management of your company’s 401(k) plan can help offset the administrative burdens that sometimes go along with offering this valuable benefit.