A majority of financial professionals who would like to expand their business see huge opportunities in the micro and small plan 401(k) market.
A series of surveys conducted by Guardian Retirement Solutions at its recent 401k G2 Summits also found that 51 percent of financial professionals view time management as a key challenge to doing business in the retirement plan market, followed by 39 percent who believe resource management is the biggest challenge.
More than 50 million Americans participate in employer-sponsored 401(k) plans, with about $3 trillion in assets. Ninety percent of all 401(k) plans are small businesses with less than $10 million in total plan assets and 80 percent of all 401(k) plans are in the micro market, with less than $2.5 million in assets.
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.
