For 2021: Advice worth giving, no matter what the year brings

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A fraught 2020 is receding quickly in the rear-view mirror, and though relief is in sight, COVID-19’s effects will linger well into 2021, if not beyond. It’s a decidedly uncertain yet hopeful outlook. For sure, 2021 will offer its share of surprises, but the new year needn’t be just about bracing for market upsets. In fact, 2021 can provide meaningful openings for defined contribution (DC)-focused advisors to productively heighten sponsor-clients’ attention on the big-picture plan issues of participant satisfaction and cost-effectiveness.

In 2021, advisors can find opportunities for clients embedded in a particularly nettlesome plan-management issue: the oft-complex mechanics of plan fees. They also can help sponsors enhance plans to address burgeoning participant interest in secure retirement income and socially responsible investing — worthy goals no matter what the year’s distractions.