PCS Retirement, a provider of retirement plan solutions for advisers, has created a Communication Resource Center to enable advisers to communicate with plan sponsors and participants during this volatile market connected to the coronavirus pandemic.
“Times like these are when independent, professional financial advice is needed most,” says Mark Klein, chief executive officer of PCS Retirement. “It’s critical to provide information to plan sponsors and participants to keep them informed about their retirement accounts, markets and investing. Yet many advisers don’t have a ready channel or easy way to communicate directly with plan participants. We feel it’s a critical time to offer this new communication service for both advisers and their plan participants.”
The communication center provides links to financial, economic and wealth management articles. Advisers also can create their own messages. The messages and articles can be posted on the participant website or emailed to participants. They must first be compliance approved by the adviser’s firm.
In order to use this new service, advisers must be using PCS Retirement’s recordkeeping platform.
PCS Retirement notes that a recent survey by the Employee Benefit Research Institute (EBRI) found that only 12% of participants say they receive education from their employer on how to invest in a retirement plan, and only 26% say they have the information they need to determine how much to save for retirement.
Jordan Migneault, executive vice president of client experience at PCS Retirement, adds: “When a retirement plan has an adviser who can reach out to participants, it is very helpful at times like these.”