facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
401k Plan Sponsors: Unhappy With Your Financial Advisor? Thumbnail

401k Plan Sponsors: Unhappy With Your Financial Advisor?

Plan sponsor’s attitudes toward their 401k plans have become increasingly dissatisfied over the past year.  

According to a recent study1, 88% of plan sponsors made changes within their investments. Over a third of those who participated in the survey said that they are looking to make an advisor change – that number has doubled since 2020.  

So what is the main reason that plan sponsors are dissatisfied?  What are they lacking in their financial advisor? 

Employee communication + education 

A lot of times, advisors will rarely come into contact with the plan sponsor after the initial startup.  

That’s why you need a local team.  

Consistent communication and employee education is essential to a successful plan. Regular visits with your advisor will help you keep everything in check.  

Here’s where we come in: 

We believe face-to-face is key. We will be wholly involved in making sure things run smoothly within the plan and will consistently service you on-site every six months. During these visits, we provide educational content on relevant financial planning topics, including market updates, use of your 401k website, and even financial wellness for your team. We are more than happy to go over any questions or concerns from the participants and plan administrators.  

1  https://www.fa-mag.com/news/plan-sponsors-demanding-more-of-advisors--fidelity-says-63224.html?utm_source=FA+Subscribers&utm_campaign=0051032bfd-FAN_FA_News_NYL_Weeklong_072221&utm_medium=email&utm_term=0_6bebc79291-0051032bfd-238351917