I have been in the financial services industry for my whole career (27+ years) and have had the pleasure of working at some of the greatest companies in the world (Morgan Stanley, UBS, Fidelity Investments, DriveWealth and now 401GO). It all started when I was a financial advisor at Dean Witter (now Morgan Stanley). The great value I saw in this business was the opportunity to help people navigate their financial mazes, as well as to educate them on the jargon we use so easily in the retirement space (QDIA, CIT, GLWB, NQDC, MACA, DRO, auto escalation, RMD, force outs).
Did you know there are over 150+ acronyms in the retirement industry? This is where an advisor is at his best!
How Advisors Are Helping Individuals
The average American’s net worth is held entirely in their home equity and their retirement account. A financial advisor can support people with so many other priorities, like caring for an ailing family member, dealing with a personal disability or tragedy, managing a job loss, recovering from a natural disaster, or traveling to support family in distant locations. The advisor is the lifeline, the quarterback/chef/conductor, the peace-of-mind maker, the retirement translator, who acts in the best interest of the client, answers the “when in doubt” questions that pop up, and so much more.
Depending on the service model, a financial advisor may be able to assist with chat, phone, email and onsite meetings to make sure you maximize the value of the retirement plan benefits you offer your team. And, using experienced financial planning, advisors can take a holistic approach to client assets, helping both business owners and employees set proper goals and personalize their retirement experience.
4 Big Value-Adds
Including a financial advisor on your 401GO retirement account can benefit you in several ways.
Navigate Uncertainty: An advisor can help you avoid hitting the panic button during uncertain times. Too many workers buy high and sell low, or take early withdrawals or loans that come with penalties and fees. A good advisor will present other options.
Monetary Life Coach: An advisor can act as a financial life coach, helping you through the ups and downs and curve balls that life throws at you and your business.
Better Outcomes: Advisors, on average, provide better outcomes, higher satisfaction, more engagement, higher deferral rates, and, as a result, happier employees.
Holistic Approach: An advisor can help you bridge the gaps between your wealth, health, and retirement needs in a personalized way, and they can do the same for your employees.
401GO Supports Advisors
401GO is the partner that makes retirement easier for all three parties. We help the advisor to do their work in a frictionless and fluid way, with contact details, investment fund access and review, participant notices and billing flexibility. We help the employer to set up their plan in just 15 minutes and to manage ongoing needs in an efficient and hands-off way. We give the participant an easy-to-navigate user experience with free financial wellness tools and no transaction fees.
There are over 300,000+ advisors in the U.S. Make sure you’re working with one that partners with 401GO.
