02.23.26

FAs Tapping 401(k) Plan Participants as Wealth Clients

by: Alex Padalka

A new report from Advisor Insight shows financial advisors increasingly view 401(k) and other defined-contribution plan participants as a pipeline for wealth management clients. While only 9% of advisors serve more than 20 plans and 26% have no plan clients, 65% say converting plan participants to wealth clients is easier than traditional marketing. Conversion rates are notable: 62% of advisors convert at least 6% of participants, with smaller advisors (<$100M) converting over 15% in 28% of cases and larger advisors (>$500M) achieving similar rates in 41% of cases. Growth is fueled by financial wellness programs and holistic advice.

Read the full article on Financial Advisor IQ