Almost 75% of plan participants want advice

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

73% of 401(k) savers would like personalized investment advice for their retirement savings, according to annual survey from Charles Schwab Corp..

Among the 401(k) plan participants surveyed by Schwab, almost half (49%) said they were very confident in investment decisions with professional help, with a lower 27% expressing confidence in their own decision making. About 39% of workers said they are already receiving professional advice through their plan at work.

It’s 2023 and I think it’s a mistake not to offer plan participants, the opportunity to get investment advice.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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