Sales & Marketing | 10.06.26
Advisors Struggle To Turn 401(k) Savers Into Wealth Clients
by: Leo Almazora
Advisors are struggling to convert 401(k) participants into individual wealth-management clients, according to new joint research by Cerulli Associates and Morningstar, with only 10.2% of wealth clients coming from defined-contribution plans on average. The research identified limited time, staffing, technology and participant data as major obstacles, while high account minimums further restrict conversions. Advisors particularly want help identifying and engaging promising participants. Recordkeepers with wealth businesses can also compete for rollovers, prompting many advisors to seek clearer rules of engagement.
Read the full article on InvestmentNews