We are beginning to encounter the first generation inAmerican society that has no pension plan to rely on, not tomention the other challenges they face in preparing for retirement.(Photo: Shutterstock).
The role of advisors who help 403(b) plan participants has been shifting forover 20 years, due to regulatory changes, new technology and therange of responsibilities an advisor can have.
From the beginning, individual advisors have been helpingparticipants in multi-vendor 403(b) plans witheducation, enrollment and obtaining distributions. Now, manyplan sponsors have been shifting plan models byreducing investment providers, lowering costs and seeking to addnew technologies that automate the enrollmentprocess. Meanwhile, many plan consultants haveraised concerns about the difficulty in tracking individual advisoractivity, which makes it challenging to justify their expense.
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