As the population ages, experts believe more companies will offer this voluntary benefit. Advisers who are educated about long-term care insurance can increase awareness for retirement plan sponsors and participants.
Advisers can guide their sponsor clients towards the assistance that TPAs and recordkeepers can provide.
The Savings Preservation Working Group says that at least 33% and as many as 47% of plan participants withdraw part or all of their retirement savings when switching jobs.
They are seen as a hedge against retirement plan participants taking loans or hardship withdrawals.
According to new John Hancock research, financial stress has a major impact on organizations, costing more than an estimated $1,900 per year, per employee.
The deadline for the 2020 Plan Adviser and Adviser Team of the Year award nominations is October 18.
Social Security is a big part of retirement income planning for employees.
The typical investor has five to six accounts, multiple products and custodians, and two or three advisers managing their assets.
Chatbots, automated voice services, smart CRM systems and data mining are the main ways that retirement plan advisers today are using artificial intelligence.
Industry insiders discuss why offering financial wellness is a must-have for today’s retirement plan advisers.
Thanks to legislation such as the SECURE Act, new products and the need, the market is warming to guaranteed income.
Increasingly, HSAs are being viewed, accepted, and treated in the industry, as a long-term investment strategy.
Vanguard researchers emphasize that while the value of advice was once traditionally based on portfolio outcomes, goal success rates and advisory relationships are results of effective guidance as well.