Advisor Sales Strategies

About half of millennials (56%) and Gen Z talk (49%) about money regularly, compared to 22% of baby boomers, according to CNBC, but employers can encourage employees by offering financial education.

Asset manager BlackRock has launched LifePath Paycheck, which gives employees access to guaranteed income through a target date fund, allowing DC plans to switch some of an enrollee's investments into an annuity at age 55.

The Retirement Security Rule, finalized on April 23, is polarizing and is sure to face significant legal challenges (one lawsuit has already been filed), because the rule applies a new, heightened fiduciary duty to the insurance industry.

According to the DOL, the new fiduciary rule levels the playing field for insurance agents, brokers, financial planners and registered investment advisors to adhere to a best interest standard when providing investment advice.

Despite an uncertain economic environment, retirement plan participant outcomes thrived in 2023, bolstered by strong growth in employee contributions, according to a preview of Vanguard's annual "How America Saves" report.

Four seasoned benefits-industry veterans imparted these tips for building a successful, rewarding advisory business.