Insights from Voya's Retirement Revealed Study on Women and retirement preparedness

The Defined Contribution Institutional Investment Association (DCIIA) surveyed sponsors regarding automatic features and identified their impact as well as the barriers to adoption.

Insights from Voya's Retirement on Cultural differences.Examining the retirement and financial habits, attitudes and preparedness of America's diverse workforce.

Insights from Voya's Retirement on Cultural differences.Examining the retirement and financial habits, attitudes and preparedness of America's diverse workforce.

Looking at 5500 data is a common business development practice, however many Advisors don't know how to take the information they find and position it in a way that will truly set them apart.

The shift among 401(k) advisors from a mainly commission- to a mainly feebased model continues at a brisk pace. Today, 41% of advisors say they are mainly fee-based, up from only 24% six years ago.

When it comes to recommending 401(k) service models to plan sponsors, do advisors stay within their comfort zone and generally recommend the same service model to most comers? Or do they move seamlessly from service model to service model, selecting different platforms based on the specifics of a case?

RIAs—both “pure” RIAs and dually-registered reps—are playing an increasingly prominent role in providing advisory services to 401(k) plans. It’s a two-way movement with RIAs expanding into the 401(k) world from wealth management and longstanding 401(k)-focused advisors reorienting their practices to become fee-based formal fiduciaries.

Half of all advisors with a 401(k) plan practice are actively pursuing the opportunity to generate Rollover IRAs from departing plan participants—50% say they “make a special effort” to do so.

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.