Business Development


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Do 401(k) Advisors Cross-Sell?

The allure of collateral sales from a 401(k) book of business is a longstanding enticement to draw successful retail FAs into the world of employer-based retirement plans. Convert business owners and company executives into retail wealth management clients goes the argument. Harvest the Rollover IRAs. Sell group insurance or other business financial products to your 401(k) plan sponsors.

Stuck in Neutral: Why Guaranteed Income Features aren’t Moving

After nearly a decade of intense development, testing and promotion, guaranteed income features are available in only 10,000 to 12,000 defined contribution plans nationally, about two percent of the total. What gives?Advisors aren’t the problem. According to our current research, nearly seven in ten 401(k) advisors are at least somewhat interested in a guaranteed income feature within a DC plan. Among heavy advisors (the 25% of 401(k) advisors who derive 60% or more of their income from 401(k))...

RIAs Rock 401(k)

Over the past five years or so RIAs rolled into 401(k) big time and in doing so rocked the once familiar business model of more traditional 401(k) advisors. We define two groups of 401(k)-active RIAs.

Growth and Development of 401(k) Plans – A Retrospective

Section 401(k), added to the IRC by the Revenue Act of 1978, formally sanctioned the use of salary reduction as a source of tax-deferred retirement plan contributions. The law went into effect on January 1, 1980 and the first 401(k) plans became operational after the IRS issued regulations in late 1981 (though a few brave pioneer sponsors did jump the gun).

More 401(k) Advisors assume a formal fiduciary role

Our (Brightwork Partners) most recent survey of 600 advisors active in 401(k) gathered information on advisor perceptions about their fiduciary status to plans, the extent to which plans are covered by a formal 3 (21) or 3(38) fiduciary services agreement and whether those services were being provided directly by the advisor or by a third party fiduciary such as Mesirow.

401(k) Advisors have a New Look

The ongoing surveys of Advisors in 401(k) conducted by Brightwork Partners document major channel shifts over recent years. Looking back to 2005, insurance – and wirehouse – affiliated advisors dominated the sale and service of 401(k) plans; together these two channels comprised 62% of all Advisors active in 401(k). By last year that had fallen to 35%.

Mom's Retirement

ING's "Retirement Revealed" study looks at financial habits and retirement planning for women who are currently also focused on raising children.
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