Vestwell will provide financial advisory Carson Group with small and midsize business 401(k) and 403(b) plan programs for its investment and wealth management adviser network.
The service is meant to be an affordable alternative to state-mandated retirement plans.
Retirement Gateway for Small Business seeks to serve small and startup 401(k) plans by easing demand on plan administrators in several areas.
Two of the reasons most commonly cited by small business owners for not offering a retirement plan are the beliefs that their business is too small to qualify and that they can’t afford a match.
The largest small employers may be the most interested.
The Direct Fiduciary program aims to allow companies to significantly reduce the amount of time spent managing an individual 401(k) plan by outsourcing administrative and investment fiduciary responsibilities.
OneDigital and Ascensus recently announced the availability of a ‘co-created small market solution,’ making OneDigital the latest adviser aggregator to launch a DC plan solution targeted at small businesses.
A PLANADVISER webinar underscored key plan design offerings when working with smaller plan clients.
SS&C Technologies will act as the underlying recordkeeper for the Everyday 401(k) small-business retirement plan solution, which the firm’s leadership says will complement the existing Retirement Link platform backed by Empower.
For cash balance plans that were left unfrozen, small business employers may have been able to utilize a PPP loan to fund it.
The firm has worked with larger organizations for the past four decades, but credits the expansion towards a need for more fiduciary resources in the smaller business market.
While more than half view retirement benefits as a “must have,” they are unprepared to make selections and could use the help of an adviser, Lincoln Financial Group says.
A survey reveals points about which small business owners could be educated to incent them to offer retirement plans for employees and save for retirement themselves.
Even as large employers embrace cutting edge features in their retirement plans, LIMRA data shows small businesses continue to struggle when it comes to offering even basic retirement benefits.