PCI Founder and Chairman, Brian Allen, CFP®, continues the conversation about fiduciary committees focusing on what is in the best interest of plan participants. His recent article, “The Threat of Managed Accounts for Plan Advisors,” featured in Advisor Perspectives, highlights the negative impact so-called managed accounts and their fees can have on results for participants. Managed accounts notably have been pitched by plan advisers looking to increase fees and make more money. Ultimately, that can result in participants losing money that could help them retire on time with dignity.
In the article, Allen challenges advisers to evaluate the price vs. the actual benefit managed accounts deliver for plan clients. Allen and PCI believe all plans should have transparent, fiduciary-based, and performance-driven services. That’s how to make the results participants receive top-of-mind and build rewarding retirement.
Read Allen’s complete Advisor Perspectives article about the threats of managed accounts here.
Are you a fiduciary committee member looking to improve your 401(k) plan management and results? Success starts with having the right tools.
Get a copy of Brian Allen’s book, Rewarding Retirement: How Fiduciary Committees Can Elevate Workers, Companies, and Communities, and learn how to build your fiduciary toolbox at www.rewardingretirementbook.com.
