Recently our Founder & CEO Dr. Greg Kasten was interviewed by U.S. News and World Report on the topic of Retirement Advice You Should Avoid. This subject is particularly relevant because it’s our opinion that participants aren’t suffering from a lack of advice or information. Our industry is rather prolific in generating information and tools for the participant–with the idea it will encourage or cajole them into doing something to improve their outcome. That hasn’t worked and there are good reasons – mostly because they require the participant to change human behaviors and tendencies. When I go to Barnes & Noble, there are four or five aisles of self-help books…and the aisles never go away. Human tendencies and behavior–like inertia, procrastination, choice overload to name a few – are extremely difficult to overcome. But that’s what we expect participants to do.
At Unified Trust, our approach is different. We do it for the participant – just like in a pension plan–and then allow the participant to personalize it from there. I don’t know about you but when I do a participant meeting, no one is raising their hand and saying, “Can you teach me how to do this” They want someone to do the difficult things for them. And the good advisor would like to do that – but if you’re remotely successful, how do you do it for all your participants and stay on top of it? The solution needs to be scalable for the advisor – and that’s what we deliver.
To read the complete article click here: http://money.usnews.com/money/personal-finance/articles/2016-02-25/outdated-retirement-advice-you-should-avoid