If you’re a financial advisor, more assets under management equal more money.  It’s pretty simple to me. So that means a financial advisor working in the 401(k) plan space should do their best to making sure that their Plans get bigger n the asset department.

That’s why being concerned how much the fees that plan sponsors are paying for administration and investments are a concern. More money lost in high fees means less in the Plan.

Financial advisors should look to other avenues to grow the assets of the Plan.

If rank and file employees are close to age 70 ½, perhaps approaching them to roll over their IRAs to the 401(k) plan to avoid getting caught up with required minimum distributions is a consideration.

Getting highly compensated employees to transfer ADP refunds into a Roth IRA within the 401(k) plan is an idea, so are the sidecar IRAs that plans could offer for participants who may want IRA and 401(k) assets under the same roof.

Automatic enrollment is another option. Safe harbor plan design and cross-tested allocations can work as well to get more assets.

An advisor who helps the plan sponsor grow assets can help them lower fees and end up getting more shekels for the advisor. That’s a good deal.