As participant fee disclosures are now in place, advisers can take this as an opportunity to prove their value as well as grow their businesses, and there are five point advisers should keep in mind when doing so, says Bob Kaplan, national retirement consultant and 401(k) technical expert of ING U.S.
Manage sponsors' expectations
According to the Deloitte 2011 401(k) Benchmarking Survey, one-third of plan sponsors are unaware of the new fee disclosure rules. With the tough economy, most plan sponsors are focusing on their businesses, and they may not have the necessary staff to devote time to this issue, Kaplan says. Instead, plan sponsors rely on their advisers to inform them of any changes, but this often does not happen.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
