Advisor Sales Strategies

There's a major shift underway in the financial services industry – the convergence of workers' retirement and wealth needs, which have been placed in separate domains, much to the dismay of the average investor, says T. Rowe Price.

Workers' emergency funds are being depleted, prompting them to prematurely tap into their retirement savings, as employee financial wellness has continued to trend downward, leading to increased instability, says a new report.

Employers are not "responsible for providing for my retirement," say employees, and only 1 in 4 is comfortable leaving money in former employer plans, however, they are more open to employer involvement, says a new report.

The new law bolsters small businesses' ability to provide retirement benefits to their employees by offering tax credits to offset costs, however, for advisors, it's an unprecedented opportunity to tap into a new revenue stream.

With steep inflation affecting retirement goals, employers can play a pivotal role in reducing employees' financial stress by enhancing their offerings beyond the traditional 401(k) with emergency savings accounts, says a new report.

As ideas on how best to help employees save money for retirement continue to advance, employers and plan sponsors will need to stay abreast of the changing regulatory requirements and evolving participant needs.