Now is a good time to evaluate your retirement savings, and chances are employees need some help of their own. According to a story in the New York Times, one-on-one financial planning is taking hold as a workplace benefit. Principal Financial Group says these types of meetings have increased 20 percent since the company began offering them in 2003.
One reason for the growth of individual financial planning is companies tend to offer it for free, the Times writes. Whether your retirement plan is sponsored by a large company, or an independent advisor, they see the service as a potential prospecting method. The Times quotes Luke Vandermillen, head of the advisory program at Principal: "The service kind of pays for itself. We tend to attract more clients as a result of this."
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