For many of your employer clients, once they select a provider for the employees’ sponsored retirement plan, they no longer think about it. Other than ensuring that the contributions are submitted appropriately, the rest is set on auto-pilot. This is not the best strategy because as with everything in life, the financial insurance industry is constantly changing and employer sponsored plans need to be evaluated along with those changes.

Laws and regulations are continually being developed and re-evaluated, not just in the investment fund types but in the overall plan design, too. Anything a company once knew about their employees’ plans could change in the blink of an eye. For example, a new law may now allow a company to bypass previously mandated contributions. The type of product or investment requirements within plans may change, as well. Last but certainly not least, client-employee-adviser relationships certainly will see changes as we are on the cusp of the DOL Fiduciary Rule.

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