The CEO of the nation’s No. 2 recordkeeper says Empower’s focus will continue to be on a best-in-class user experience.
Tag: retirement readiness
Advisers can help retirement plan sponsors implement investment and withdrawal options and start conversations with participants who are reluctant to share their fears.
Of course, a person’s absolute level of wealth has an impact on retirement confidence, but this is far from the only important factor at play.
It will offer a highly personalized digital experience that can integrate other assets.
Plus, confidence about Medicare and Social Security benefits reaches an all-time high.
The proposed legislation comes months after a Department of Defense report found that a quarter of military spouses are unemployed.
Since being named the 2018 PLANSPONSOR Mega Team Retirement Plan Adviser of the Year, the practice’s assets under advisement have doubled.
It also identifies opportunities to improve participant outcomes.
Nearly 70% of retirees say they retired earlier than they had expected, up from 50% in 2020.
His practice has a nine-step strategy for how retirement plan advisers can improve the health of defined contribution plans and the retirement outlook for participants.
The practice’s leaders say all decisions made for a plan must improve participants’ retirement readiness, which they describe as a top priority.
Despite the lack of in-person communication in 2020, the practice has gained a fair amount of new business by disseminating promotional videos.
The firm has seen its assets nearly double in only a few years, which senior partner Mike Volo says is a testament to the group’s quality team.
Rita Fiumara of UBS Financial Services Inc. is an early entrant into the retirement plan industry, having worked in the business since 1997.
The practice, overseen by a father-son pair, has experienced strong growth while staying committed to the middle-market segment.
Advisers should watch out for unwitting partial plan terminations tied to layoffs and lasting damage to employees’ retirement readiness caused by hardship withdrawals.
It should then come as no surprise that 38% are less confident they will have enough money to live comfortably in retirement, TIAA found.
Experts say there are things pre-retirees and retirees can do to prepare for a retirement that could last 20 to 30 years.