Retirement planning prospects
As education efforts on the importance of saving adequately for retirement intensify, employers and their employees are finding increasing value in an adviser who can provide retirement services. The good news, says Fred Barstein, executive director of The Retirement Advisor University, is those advisers who are willing to truly invest in a retirement practice will quickly move ahead of those who just dabble in the field. Because few competitors sell DC plans, the adviser with a multiple disciplinary practice has an advantage, says Barstein. Selling different products to current clients is easier and cheaper than selling new clients current products or services leveraging administrative staff as well as technology across a greater revenue base.