If yes, then this blog is for you!
If you’re reading this, you probably know I work for a company that provides 401(k) plans to small businesses. While the 401(k) industry has a 30 year track-record, and has helped millions of Americans save for retirement – it’s done pretty poorly serving businesses with less than 25 employees.
I’ll keep my statistics brief: according to a March 2012 study by the GAO, there are about 4,800,000 businesses with less than 25 employees. Only 570,000 of them have a 401(k). I’m in sales, and by that virtue am terrible at math, but I know that an 11% “Adoption” rate isn’t good!
It’s a problem – but it’s also an opportunity.
We help Investment Professionals – both independent RIAs, as well as Independent Broker / Dealers and their own Advisory Units – make the most of this opportunity.
My job dictates that I spend a lot of time talking with both Individual Advisors and Broker / Dealers talking about the challenges to serving this market (I know the term ERISA may send a shiver up a few spines).
That being said, I was thrilled when my company asked me to help create a forum to outline these issues, and serve as an advocate to the possibilities the small business market represents for advisors.
Bottom line: the American public needs help, and delivering it isn’t that hard.