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Plan Advisers Should Be Putting Money into Participants’ Pockets – Not Costing Them!
Last Updated: December 15, 2020
Is Your 401(k) Plan Adviser Costing Employees Retirement Money?
It isn’t a secret. The goal of a retirement plan adviser should be to enable their client’s participants to retire on time with dignity. Participants of 401(k) plans want to know that their retirement savings are in good hands, with an honest and trustworthy adviser. We all know that fiduciary committees that do not share this goal can face the legal consequences.
PCI Founder and Chairman, Brian Allen, CFP®, was recently quoted in ValueWalk article, “Is Your 401(k) Plan Adviser Costing Employees Retirement Money?” Allen states, “Many companies have committees responsible for overseeing their employees’ 401(k) plans. These committees often depend on plan advisers, and to do their best to help employees maximize their 401(k)s, it’s vital that committees vet those advisers and carefully judge their performance.”
Allen offers tips on how 401(k) fiduciary committee members can select 401(k) plan advisers that will perform for their participants. See the full article here.
Selecting the right plan adviser can be complex. Let PCI help you. Download PCI’s Customizable RFP Tool. Use it to ask the right questions to find the adviser who can perform for you.
PCI’s archived blog entries are dated, the rules and statutes referenced may have changed. The analysis or guidance within these blog entries may have become stale, dated, or no longer accurate. PCI will not update or change these entries to reflect the latest analysis or development.
