Providing advisory help to a 401(k) plan is a great part of a financial advisor’s business because it can grow to ancillary lines of business such as working with the decision makers of the plan and their money.

One great ancillary business that too many advisors are avoiding is health savings accounts. Alliance Benefits Group of Illinois had a great presentation about that at That 401(k) Conference at Wrigley Field in September. Assets in these accounts can be invested and they can grow for the plan participants, so it’s a no-brainer for advisors to pursue that business and inquire whether these accounts are a great idea for their clients.