The good news is that retirees appear to be quite content with their existing adviser relationships — all the more reason for advisers to establish those connections prior to retirement, according to a new report.
More than 13.6 million employees in small, micro-businesses lack an employer-sponsored 401(k) plan today, a Fidelity news release said — a result that may well be the result of reluctance on the part of the owners of those businesses to embrace the concept.
A study released recently by Fidelity Investments says that 69% of small businesses review their 401(k) plan at least once a year and about a quarter (26%) of small business owners will look for a new 401(k) plan provider within the year.
It is almost never a good idea to waste time pursuing clients who will not be a good fit for your business, even if they do appear to represent incremental revenue. Sooner or later, they are likely to be a distraction at best from providing your best service to your key customer base.