Many organizations use defined contribution retirement plans, particularly 401(k)s, to provide employees with benefits. Despite the widespread use of these plans, they are often underserviced by financial advisors. That means both sponsors and participants frequently lack crucial information that they could use to achieve the best long-term results.
In a fee-based environment, retirement plans are a huge opportunity for financial advisors to provide crucial guidance and build relationships with sponsors. Acting under the obligations of fiduciary duty, financial advisors can add value in a variety of ways. They may design plans, set allocation models, manage investments and educate participants.
Advisors help sponsors to implement an effective structure. They may connect organizations with key service providers, including investment managers, third-party administrators, recordkeepers and trustees. With a strategic approach, an advisor aligns these key roles with the specific requirements of sponsors.
Drawing on expertise and a full range of resources, financial advisors can connect sponsors with quality resources and reliable service providers. In turn, OBS Financial links financial advisors with the service-oriented solutions to deliver the best results. Learn more about how OBS helps financial advisors service DC retirement plans by downloading our white paper, “How fee-based financial advisors build better retirement plans.”