innovation Archives - 401k Plan Optimization, Compliance, Investment & Partners

The Recordkeeping Industry Faces an Existential Moment

By Fred Barstein / 401k News, Adaptability, Communication, Convergence, Convergence & Advisor M&A, DC Plan Sponsors, Financial Advisors, Financial Wellness, innovation, investment, Recordkeeping, Retirement Plan Advisor

The 401(k) recordkeeping industry stands at a pivotal moment. With $12.5 trillion in assets and 121 million accounts, recordkeepers are navigating intense pressure driven by:...

Why Purist 401(k) RPAs Face Growth Challenges

By Fred Barstein / Adaptability, adult learning, Authenticity, Client connection, collaboration, Communication, diversity, Financial Advisors, financial wellness, innovation, investment, Retirement Plan Advisor, Specialist vs. Generalist, specialized team

Independent 401(k) retirement plan advisors (RPAs) who focus only on retirement plans and avoid offering other services like financial planning or investment management are finding...

Preparing for the 401(k) Boom: How the Industry Must Adapt

By Fred Barstein / 6th Annual RPA Broker/Dealer Roundtable, Adaptability, CEO Engagement, Changing dynamics, Changing Recordkeepers, Client connection, collaboration, Communication, Convergence, Employee happiness, Fiduciary, innovation, PEPs, personal financial advice, product quality, Professional Retirement Plan Fiduciary Services, Regs and Regulators, Retirement Advisor Specialist, Retirement Advisory, Retirement Plan Advisor, Specialization, specialized team

A surge of new 401(k) plans is on the horizon, driven by state mandates, SECURE 2.0 tax credits, and the growth of group plans like...

John Hancock and Vestwell Partnership Signals Digital Evolution for the Retirement Industry

By Fred Barstein / 401k News, 6th Annual RPA Broker/Dealer Roundtable, CEO Engagement, Changing dynamics, Changing Recordkeepers, Committees, DC Plan Sponsors, Digital Design, Digital Tools, education, Fiduciary, Financial Wellness, Improving Outcomes, innovation, investment, product quality, Retirement Plan Advisor, Retirement plan management, Retirement Plan Testing, Retirement Readiness, Savings Rates, specialized team

In a move that signals a significant leap forward for the retirement industry, John Hancock Retirement has launched FutureStep™, an innovative open-architecture retirement plan solution...

Financial Wellness: Supporting Employees in Challenging Times

By Fred Barstein / 401k News, Adaptability, benefits committee, Communication, Confidence, DC plans, Economy, Emergency Savings, Employee happiness, Employee training, employer match, financial insecurity, financial literacy, financial stress management, Financial Wellness, Financial Wellness, Health Savings Account, healthcare, Healthcare & other benefits, innovation, Job growth, recession

Financial stress has emerged as a critical issue in the workplace that demands employers’ immediate attention. Recent data from earned wage access company ZayZoon reveals...

Transforming 401(k) Plans Through AI

By Fred Barstein / 401k News, AI, artificial intelligence, auto enroll, Auto Portability, automation, Benchmarking & Monitoring Fees & Partners, benefit education, Client connection, Communication, Consolidation, DC Plan Sponsors, Digital Tools, Economy, ESG, Fiduciary, Financial Advisors, financial literacy, Financial Wellness, innovation, Managed Accounts, Regs and Regulators, Robo Advisor Technology, Selecting & Monitoring

Artificial intelligence (AI) could transform the 401(k) industry in a way similar to the impact behavioral finance has had on retirement planning. While the industry...

Convergence & Advisor M&A: Shaping the Future of Wealth, Retirement, & Benefits

By Fred Barstein / 401k News, Client connection, collaboration, Communication, Convergence, Convergence & Advisor M&A, DC Plan Sponsors, evolving and adapting, Fiduciary, Financial Advice, Financial Advisors, financial literacy, Financial Wellness, innovation

The concept of convergence between wealth management, retirement planning, and workplace benefits is no longer seen as a passing trend, as indicated by a recent...

Evolving RPAs: Transforming Modern 401(k) and 403(b) Plans

By Fred Barstein / Adaptability, Authenticity, Change, Client connection, collaboration, Communication, Digital Tools, diversity, Economy, education, Employee happiness, evolving and adapting, Fiduciary, Financial Advisors, financial stress, Financial Wellness, innovation, investment, Mobile apps, Regs and Regulators

The evolution of 401(k) and 403(b) plans from simple savings tools to comprehensive financial solutions has transformed the role of Retirement Plan Advisors (RPAs). Initially,...

The Terrifying and Brilliant Future for 401(k) Providers & Advisors

By Fred Barstein / 401k News, Benchmarking & Fees (ERISA, retirement plan), Change, Communication, Convergence, Economy, Financial Advisors, Fintech Record Keepers, Improving Outcomes, innovation, Investment Managers, Investments, mindfulness, Record Keepers

The future of the 401(k) industry is both terrifying and brilliant, presenting significant challenges and immense opportunities. Providers and advisors are grappling with an explosion...

Financial Wellness Improves Employee Satisfaction & Retirement Security

By Fred Barstein / 401k News, Communication, Confidence, Economy, Emergency Savings, Employee engagement, employer match, Fiduciary, Financial Advice, Financial Advisors, Financial Literacy, financial stress management, Financial Wellness, financial wellness, Health & Wellness, Improving Outcomes, inflation stress, innovation, investment comittee

Amid inflationary fears and economic uncertainty, financial stress is an all-too-common part of life for many employees. Money stress not only affects workers’ personal lives...