Innovations in plan design, services, and communications geared to improving 401(k) participants’ retirement outcomes have slowed demonstrably in the immediate aftermath of the Department of Labor’s fiduciary rule.
The reason is that service providers have turned their focus to complying with the fiduciary rule.
The ability to improve retirement outcomes by delivering more personalized advice has been the primary differentiator record keepers have leveraged in a highly competitive market, says Cynthia Hayes, president of Oculus Partners, a consultancy that advises on business development practices for service providers and asset managers.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
