Here are five suggested articles to read this weekend:
1. 401k Advisors Who Ignore Financial Wellness Risk Losing Business – 401k plan participants want help getting their finances in order, and plan sponsors have taken notice. Citing concerns over employees who are financially stressed and failing to save enough for retirement, employer sponsors are more interested in financial wellness programs than ever. (401kspecialistmag.com)
2. Millennials In Search Of Advisors– Millennials need assistance planning for retirement, but many advisors do not want to work with young people who have few assets. The solution may be for the young people to reach out to their parents’ advisors for help, said Len Hayduchok, president and CEO of Dedicated Financial Services LLC in Hamilton, N.J. (fa-mag.com)
3. From Planning Analyst To Financial Planner: It’s Not How You Start That Matters, It’s How You Improve – As the average age of a financial advisor remains 50-something and rising, along with it is a rising need to not only attract and develop the next generation of financial advisors, but actually begin to transition clients to them. (Nerd’s Eye View | Kitces.com)
4. Why You Should Still Take the Fiduciary High Ground on 401k Rollovers – The Fifth Circuit Court of Appeals issued its mandate to vacate the Department of Labor fiduciary rule in June, but guidance issued by the DOL the month prior allows at least part of the rule to continue to apply. (investmentnews.com)
5. 401(k) Participants Mostly Stayed Put in Investments in July – July was a particularly slow month for trading in 401(k) plans, with no days of above-normal trading activity, according to the Alight Solutions 401(k) Index. This was the first month of no days of above-normal trading activity since June 2017 and continues the lull in trading, with only one day of above-normal trading in both May and June. (plansponsor.com)
