Many employers want to help their employees save for retirement and, accordingly, provide them qualified plans that offer adequate levels of self-service decision making.
While this arrangement works well enough during the accumulation process, many with sizable and growing plan balances can feel an acute lack of support in key areas, particularly at the critical inflection point of retirement itself. Specifically, they want to ensure they will not run out of money in retirement.
Financial wellness tools can help reduce related stress for some, but free ‘coaching’ services only go so far. And coaches cannot offer actual financial advice.
Which leaves employees with inadequate planning resources to address perhaps the most important economic event of their lives. For that reason, they are asking for highly personalized and specific investment and tax planning advice in order to make fundamental personal decisions about their own (and their spouse’s) future retirement income.
This is especially true just before they initiate a rollover, a point at which every employee needs realistic, unbiased, trusted advice regarding a comprehensive, forward-looking plan of action.
Pam Krueger, Founder and CEO of Wealthramp, is a recognized investor advocate and creator & co-host of the award-winning MoneyTrack TV series that ran on 250+ PBS funded by securities regulators. Pam is one of the leading voices on fiduciary advisors and recipient of the NAPFA Special Achievement Award for her work educating individuals about the value of fee-only financial advice.
Pam is an active volunteer member of the Retirement Income Committee at the Defined Contribution Institutional Investment Association (DCIIA), a non-profit dedicated to enhancing the retirement security of America’s workers.
Help your employees access the trusted advice they need. Whether they’re just starting a savings plan, going through a life event or transition, or wondering if they’ll be prepared for retirement. There’s a financial advisor that can help navigate these situations, reduce financial stress and create the best outcomes.
Fiduciary financial advisors can help with: