Financial advisors have always approached their business plans by looking to expand into related industries. The difference is that in the past they have had to become experts in what are very knowledge-intensive and labor-intensive fields, while today, technology is changing everything!

Why now?

Regulations are pushing small plans toward advisors, and creating a great need for advisor support. The small market is huge, and will dominate the space for years to come. This new market reality makes it vital that practices build efficiencies that make it easier for them to serve this crowd.

Additionally, many firms are making efforts to capture a greater share of assets from their wealthy clients. Since many of them are business owners, it creates an opportunity for advisors to expand their wealth management practices by pairing it with services for businesses, primarily retirement benefits.

Today, it’s easier than ever to take on small plan business. Digital recordkeepers like 401GO have automated and integrated every aspect of the 401(k) plan process, creating a much more hands-off experience, both for advisors and for business owners.

What’s next?

The most important decision the advisor can make is to pick the right partner. With so much M&A activity happening in the recordkeeping industry, there are fewer options to choose from. Closely examining industry platform partners has become a crucial step. Look for stable and modern technology, tech-based integrations with payroll, and quality of support.

I often recommend advisors review their existing clients to determine how much potential already exists with their book of business to create an additional stream of revenue with retirement plans. Expanding services doesn’t necessarily require intense prospecting, and it’s likely to be more effective when it’s beneficial to the core practice.

With the retirement space growing significantly and the aging advisor market, the country doesn’t have enough advisors to meet demand. Technology is increasingly important to help existing and incoming advisors become efficient and effective.

Who can help? 

How can wealth advisors start leveraging wealth, insurance or benefits services to expand their plan practice? And who can help? 401GO was built to help make the retirement plan business easier and less expensive for all stakeholders, including business owners, employees, and their financial advisors. Whether you need a solo plan, start-ups, conversion plans, or even cash balance plans, you can get a streamlined experience by working with 401GO.

Convergence is a powerful trend in the financial services market and will provide a significant advantage to both experts and novice plan advisors alike—if you choose the right partners. If you’re interested in learning how we help all our advisor partners grow their plan business let us share how our cutting-edge recordkeeping technology, along with our award-winning service model, can help build stronger wealth practices.

The post How Retirement Planning Can Transform Your Wealth Management Practice appeared first on Fast and Affordable 401k for growing businesses.

Let’s take a step back to better understand how we got here.

401GO and Heartland have plenty in common, the most important being that both companies were founded with the goal of making vital financial services more accessible and affordable to the typically neglected small business market. Specifically, Heartland’s founders wanted to make it easier for small retailers to accept credit cards in a world where the incumbent processors either ignored them or preyed upon them. They also wanted to make outstanding customer service a primary differentiator. Over time, Heartland developed many more products specialized for small businesses, most notably payroll and HR management technologies.

The 401GO origin story is similar, in that our founders set out to use technology to tweak the economic problems that historically made it make it difficult for smaller businesses to offer retirement savings benefits. Like Heartland, our founders also determined early on that real people offering the highest quality customer service should be the first thing our users think of first when listing the reasons they stick with us.

This arrangement is a few weeks old and already proving extremely beneficial to Heartland, 401GO and many of Heartland users and their employees. It’s been great working with the Heartland team to strengthen both our organizations and we look forward to enjoying the benefits of a long and fruitful partnership.

The post Big news: We’re Partnering with Heartland appeared first on Fast and Affordable 401k for growing businesses.

For 2025, there’s some great news: contribution limits are increasing once again. Here’s what you need to know about the new limits, how they can help you save more, and what this means for businesses sponsoring 401(k) plans. 

The New 2025 Contribution Limits 

For 2025, the IRS has increased the annual 401(k) contribution limit to $23,500, an increase of $500 from 2024. This applies to employees who participate in traditional 401(k), 403(b), most 457 plans, or the federal government’s Thrift Savings Plan. 

Workers aged 50 and older are still allowed to make additional “catch-up” contributions. This catch-up limit remains at $7,500 for most plans in 2025, allowing those nearing retirement to contribute up to $31,000 annually for most 401(k), 403(b), governmental 457 plans and the federal government’s Thrift Savings Plan. A new feature in 2025, SECURE Act 2.0 added additional catch-up contributions for employees aged 60-63, in the amount of $11,250.

Beyond employee deferrals, the combined limit for all contributions (employer match + employee contribution) is now set at $70,000, an increase from $66,000 in 2024. For employees aged 50 and over, this combined limit goes up even further to $77,500 if you include catch-up contributions. 

How to Maximize Your Savings 

If your employer offers a match, make sure you’re contributing enough to take full advantage of it. For example, if your company matches 50% up to 6% of your salary and you’re earning $100K, setting aside 6% ($6,000) means you’ll receive an additional $3,000 in matching contributions. That’s $3,000 added to your account each year. Employees who don’t contribute to their full match are leaving money on the table. 

While it would be ideal, we know that contributing the maximum amount immediately isn’t feasible for everyone. If you can’t max out your 401(k), try increasing your contributions incrementally. For example, increase your contribution rate by 1% of your salary each year or after every raise.

If you’re 50 or older, use the catch-up contribution option to supercharge your retirement savings. The additional $7,500 can make a substantial difference, particularly if you got a late start on saving. 

Remember to automate your contributions so you can save consistently without thinking. This is an easy way to ensure you’re steadily working toward your retirement goals. 

How These Changes Impact Businesses 

For businesses sponsoring 401(k) plans, the new limits bring both opportunities and challenges. 

First, if your business offers a matching program, higher employee contributions could increase costs. However, offering a competitive 401(k) match is a powerful tool for attracting and retaining top talent, especially in today’s tight labor market. For smaller businesses, even modest matching programs can make a big difference in employee satisfaction and loyalty. 

Businesses need to pay close attention to the IRS rules for highly compensated employees (HCEs), which include individuals earning more than $160,000 in 2024 or owning more than 5% of the company. Ensuring your 401(k) plan remains compliant and nondiscriminatory is crucial. Consider adopting a Safe Harbor 401(k) plan, such as those offered by 401GO, which simplify compliance and eliminate certain nondiscrimination testing in exchange for agreed-upon matching or contribution requirements. 

For small to mid-size businesses, budgeting for increased contributions is essential. Changes like employee raises, new hires, or higher participation rates could lead to higher matching costs. However, these higher matching costs could result in more tax deductions for your company. Proactively planning for these potential expenses will help your business stay financially prepared while maintaining a valuable benefit for your team.

Build a Stronger Future for Your Workforce 

The increase in 401(k) contribution limits for 2025 is an opportunity for employees to save more and for businesses to demonstrate their commitment to employee well-being. 

Offering a robust retirement plan helps businesses compete for top talent, boost morale, and foster long-term loyalty. If you’re looking for an easy and cost-effective way to implement or upgrade your 401(k) program, 401GO is here to help. 

With 401GO, you can easily set up a compliant, affordable 401(k) plan tailored to your business needs. Our technology streamlines plan management so that you can focus on growing your business while supporting your employees in building a secure retirement. Get started with 401GO today! 

The post 2025 401(k) Contribution Limits Explained appeared first on Fast and Affordable 401k for growing businesses.

“Partnering with Mesirow, an industry pioneer in outsourced fiduciary services, is an important new step in 401GO’s evolution,” said 401GO Chief Growth Officer Stan Smith. “Adding Mesirow’s services to our platform greatly expands our retirement plan offering, to the benefit of our many financial advisor partners and plan sponsor clients.”

Smith added that financial advisors will continue to have the option to use 401GO as their 3(38) fiduciary under sister company GOInvest, create their own investment lineups from 401GO’s open architecture platform, or engage with other industry leading asset management firms.

“We’re excited to have 401GO as a new partner and are impressed with their technology-based business model,” said President of Mesirow Fiduciary Solutions Michael Annin. “We look forward to working with 401GO to help their platform grow.”

Smith and Annin agreed that their partnership is great for financial advisors as both 401GO and Mesirow are tech-forward firms dedicated to providing modern solutions for small and medium sized retirement plan clients.

About 401GO

401GO is a leading fintech innovator specializing in retirement planning solutions optimized for small and medium sized businesses. With a mission to make retirement planning accessible, practical and frictionless, 401GO offers innovative tools and services designed to help individuals secure their financial futures. To learn more, visit 401go.com or follow us on LinkedIn.

About Mesirow

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.

Mesirow has been named one of the Best Places to Work in Chicago by Crain’s Chicago Business multiple times and is one of Barron’s Top 100 RIA firms.

Mesirow is not affiliated with 401GO or any of its affiliates. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2025, Mesirow Financial Holdings, Inc. All rights reserved. Investment management services provided through Mesirow Financial Investment Management, Inc., Award recognition disclosures: mesirow.com/award-recognition-disclosures

The post 401GO Expands Retirement Savings Plan Investment Offerings Through Strategic Partnership with Mesirow appeared first on Fast and Affordable 401k for growing businesses.

What is the Student Loan Match Feature?

The student loan match feature in 401(k) plans permits employers to make matching contributions to an employee’s retirement account based on the employee’s qualified student loan payments. It addresses a significant gap, in which many employees find it difficult to both make student loan payments and contribute to their retirement savings. Without the 401(k) contributions, they may miss out on valuable employer matching funds, as well as the time in the market that is so important to wealth building.

By allowing loan payments to count as retirement contributions, this program attempts to encourage retirement planning even when facing debt.

How the Student Loan Match Provision Works

The student loan matching provision is structured to simplify the process for both employers and employees. Here’s how it unfolds.

1. Employees make payments to their qualified student loans monthly. 
2. These student loan payments are then recognized as contributions for the purpose of employer matching. Essentially, the loan payment takes the place of the traditional deferral. 
3. Employers then make matching contributions to the employees’ 401(k) account based on the amount of the student loan payment.

Using this provision, the debt can be repaid and the retirement savings can grow simultaneously.

Benefits of the Student Loan Match Program

Since employees can continue to build their retirement savings while focusing on paying off student debt, this feature enhances the desire—and ability—to save for those who previously believed they couldn’t. Workers appreciate an employer who gives them this flexibility, which may be just as meaningful as a raise for helping employees feel appreciated and respected.

Offering a student loan match program can be a powerful way for employers to attract and retain talent. It demonstrates a commitment to employees’ financial well-being, appealing particularly to young individuals who might be navigating student debt.

Implementation Timeline and Best Practices

The student loan match feature officially took effect for plan years beginning after December 31, 2023. While it is legally available for all plans, it takes time for recordkeepers to build the functionality to support it, so many providers don’t offer it. 401GO does.

Employers who wish to take advantage of this provision should talk to their plan provider to get it added to their plan document. Then, they will need to establish a verification process to ensure that student loan payments are accurately recorded. They should also communicate the specifics of the program, including eligibility and matching opportunities, to their employees.

Conclusion

The integration of a student loan match feature in 401(k) plans is a huge benefit for those balancing educational debt and retirement savings. At 401GO, we are committed to helping businesses implement strategies that support their employees’ financial health. Employees looking to take advantage of this new feature should talk to their employer to discover whether it’s available, and encourage them to adopt it if not.

By adopting a student loan match provision, employers can not only improve their employees’ financial futures but also create a more engaged and committed workforce in the process. To get started, talk to us about adding this valuable upgrade to your plan.

The post Understanding the Student Loan Match Feature in 401(k) Plans appeared first on Fast and Affordable 401k for growing businesses.

Let’s break down the differences between these two retirement plan options.

What is 401GO’s GO-Starter Plan?

401GO’s GO-Starter is an innovative and simplified 401(k) plan designed for small businesses, startups, and self-employed individuals. Unlike traditional 401(k) plans, which can often be cumbersome to set up and manage, GO-Starter offers an easy-to-use platform with minimal administrative complexity. The goal of 401GO’s platform is to provide a user-friendly retirement savings option without the need for a dedicated HR or finance team.

One of the standout features of the GO-Starter plan is its low cost. It eliminates many of the fees that are typically associated with traditional retirement plans, making it a cost-effective solution for smaller businesses that may not have the resources to offer complex benefit packages. Additionally, GO-Starter includes features such as automatic payroll integration, employee enrollment, and an intuitive dashboard for employers to manage their accounts.

This plan also offers flexibility in terms of contribution levels, allowing both employees and employers to contribute to the retirement fund. GO-Starter helps employees to begin saving for retirement without the need for complicated paperwork or investment knowledge.

What are State-Offered Retirement Plans?

State-offered retirement plans are a growing initiative aimed at helping workers who do not have access to an employer-sponsored retirement plan. These plans are available in states that have implemented mandatory or voluntary programs to address the increasing number of individuals who are not saving for retirement. Some well-known examples include California’s CalSavers, OregonSaves, and Illinois Secure Choice.

State-offered plans are primarily designed to help individuals who work for businesses that do not offer retirement benefits. In these states, employers are required to either offer the state retirement plan or offer a different type of retirement option from a private provider. Using the state-run programs, employees can contribute through payroll deductions, and the state typically manages the investment options. Unlike 401(k) plans, state-offered retirement plans are often set up as Roth IRAs, which means they may have different tax benefits and withdrawal rules.

One key advantage of state-offered plans is that they are highly accessible to workers who otherwise wouldn’t have access to retirement savings. For employers, offering these plans comes with fewer administrative burdens compared to setting up a private retirement plan like a 401(k). However, the investment options within state-offered plans may be more limited, and employees don’t have the same level of control over their savings as they would with a 401(k) plan.

Key Differences Between GO-Starter and State-Offered Plans

1. Eligibility & Access: GO-Starter is designed for small businesses who want to offer a 401(k)-type plan to their employees. It is designed to be generally accessible to almost all employees who live in the U.S. In contrast, state-offered programs are available only in specific states and only for employees who reside in that state.
   
2. Plan Type: The GO-Starter plan is a 401(k) plan, which provides both employees and employers with the opportunity to contribute to a retirement fund. On the other hand, state-offered plans are often structured as IRAs, typically Roth IRAs, meaning they are owned by each individual employee and not the employer.
   
3. Control & Customization: With 401GO’s GO-Starter, employers have more flexibility in terms of plan structure and investment options. Employees also have a wider range of choices for their contributions. State-offered programs are not plans, and therefore have few, if any, customization options.
   
4. Administrative Effort: Both options aim to simplify the process of retirement savings, but the 401GO plan is particularly designed to minimize administrative costs and workload for businesses with automation technology. State-offered programs require some work on the part of employers, to maintain a current employee census and educate new hires about the program.
   
5. Investment Options: 401GO offers a broader selection of investment options for employees compared to most state-offered retirement plans, which typically have limited choices managed by the state.
   

Conclusion

Both 401GO’s GO-Starter plan and state-offered retirement plans serve a vital role in helping individuals save for retirement, but they cater to different needs and situations. GO-Starter is a more flexible, customizable solution for small businesses and self-employed individuals who want to offer employees a traditional 401(k) retirement plan. State-offered retirement plans, meanwhile, are a simpler, more accessible option for workers in states where businesses are required to participate. Choosing the right option will depend on your specific needs—whether you’re a small business owner, an employee, or an individual looking to secure your financial future.

The post GO-Starter vs. State-Offered Retirement Programs: What’s the Difference? appeared first on Fast and Affordable 401k for growing businesses.

Not necessarily. According to Meghaan Lurtz, Ph.D., a leading global expert on the psychology of financial planning, this can be a sign of looming danger for your relationship.

Fix, Fine, Flourish: How (and Why) Clients Fall Out of Love With You

In her recent article on Michael Kitces’ blog entitled Fix, Fine, Flourish: A Framework To Take Clients From (Just) “Fine” Stagnancy To Being Engaged Again, Lurtz breaks down a typical client’s journey into three stages.

The first stage is “Fix.” Clients seek out a financial advisor when they have immediate financial concerns to address, and as their chosen expert, you’re able to gain their trust and gratitude in this phase by helping them to stabilize their financial situation and set themselves up for a lucrative future. Nice work!

The second stage is “Fine.” Once a client’s initial issues are resolved, they transition into the “Fine” stage, where you’re likely to hear:

“Nope, don’t need anything!”

“Everything’s still good!”

“Don’t call me, I’ll call you.”

These are the words of a satisfied and seemingly stable client. You’ve resolved their most pressing financial concerns; what more could they want?

A lot, actually. In fact, they don’t just want more from you—they need more, or they’re likely to leave after their upteenth “fine” monitoring meeting. 

What Your “Fine” Clients Are Actually Thinking

No matter how impressed or satisfied your clients were in their “Fix” stage, the farther they travel into “Fine,” those feelings will start to dwindle. With no new problems to resolve for your clients, you’ll have no way to continue proving your worth, and they’ll naturally start to value you less, weakening your relationship.

And then, one day, you might find yourself blindsided by a “fine” client dropping you to manage their finances independently. Why should they retain a financial advisor who, in their opinion, isn’t needed anymore?

According to Lurtz, the psychological underpinnings of this “fine” complacency lie in the end of history illusion. This cognitive bias leads individuals to believe they’ve reached a stable point in their lives, whilst vastly underestimating the likelihood of future changes. Research involving over 19,000 participants from ages 18 to 68 reinforced this; though participants generally acknowledged that significant change had occurred in the past, they believed relatively little would change in the future, regardless of their age. This distorted perception limits our ability to envision new goals and opportunities, even as our life circumstances, interests, and aspirations continue to evolve.

So, even if a client came to you just a year ago with a mountain of financial issues to address, they may genuinely not anticipate that ever happening again, and thus not see the need to stay on as a client.

How to Become Invaluable to Your Clients—Indefinitely

The “end of history” illusion is a huge detriment when clients see their financial advisor as a simple problem-solver—which they likely do, given that this was the nature of your relationship through the “Fix” phase. (You “fixed” their problems, and now they’re “fine.”)

The key to becoming an invaluable asset to your clients is to establish yourself as someone who helps motivated business owners reach their goals, rather than someone who just manages their money.

By educating your clients on the importance of proactive financial planning, you can open up an endless amount of opportunities for your relationship to thrive.

This brings us to the third (often skipped) stage of the client journey: “Flourish.”

Turn Your “Fine” Meetings Into an Endless Stream of Client Wins

In the last stage of her “Fix, Fine, Flourish” framework, Lurtz encourages advisors to take their check-in meetings from mere progress monitoring to “Flourish Meetings,” where you prioritize the client’s discovery, reflection, and growth.

An easy way to make this pivot is by asking your client reflective questions that delve into their evolving goals and aspirations:

• What significant changes have occurred in your life or business since our last meeting?
• What changes would make you feel more fulfilled?
• What are the biggest challenges in your business today?

Come prepared with a library of solutions to propel your clients toward their goals. Here are just a few that our top advisors have used to “wow” their clientele:

1. Client Goal: “I’d like to retain my talent for as long as possible.”

Financial Advisor Solution: “Small businesses have to get creative to compete with larger companies’ salaries and benefits packages. Have you heard about student loan matching?”

SECURE 2.0’s student loan matching provision is a game-changer for business owners. Employers can now match employee student loan payments with 401(k) contributions, even if the employee isn’t contributing themselves. This tackles the tough choice between paying down debt and saving for retirement.

Employees will love the early start to retirement savings and increased financial security, and employers will love the boost in talent retention and employee morale.

2. Client Goal: “I wish I had better retirement planning options for myself, but it is what it is.”

Financial Advisor Solution: “Actually, there’s an excellent option for business owners that I don’t think we’ve discussed yet. Have you heard of cash balance plans?”

Cash balance plans promise a specific benefit amount at retirement, which can be taken as a lump sum or moved into an annuity for regular monthly income. The employer makes all contributions based on an actuarial formula (percentage of pay or a fixed amount). Employees don’t contribute.

This is often favored by business owners due to potentially higher contribution limits than traditional defined contribution plans. Plus, it can be combined with a profit-sharing 401(k) plan to benefit all employees.

If you want to learn more about cash balance plans (and earn CE credit for it), register for our upcoming webinar with NAPA on April 2, 2025.

3. Client Goal: “I wish I could find more quality hires.”

Financial Advisor Solution: “Fifty-seven percent of millennials said they’d feel less stressed if their employer offered financial wellness benefits. Have you heard of Roth employer matching?”

Roth employer matching is a powerful option for business owners looking to attract younger employees who anticipate higher future incomes. It allows employees to contribute after-tax dollars, ensuring tax-free growth and withdrawals in retirement.

Want More Ways to Help Your Clients Flourish?

By embracing the “Fix, Fine, Flourish” framework, encouraging your clients to think proactively about their finances, and offering a variety of services to reach their goals, you can transform “fine” clients into engaged, loyal partners.

If 401(k) offerings aren’t in your reengagement library yet, contact us. We’d love to help you overdeliver to your clients through every step of your relationship.

The post Why Happy Clients Ditch Their Financial Advisors (and 3 Ways to Re-Engage Them) appeared first on Fast and Affordable 401k for growing businesses.

With nearly 1 in 4 employees leaving jobs for better benefits and 90% comparing benefit plans before making a career move, offering competitive retirement options is critical for attracting and retaining talent. This partnership provides isolved customers—ranging from sole proprietors to established businesses—with flexible, automated 401(k) solutions that reduce complexity and ensure compliance.

“At isolved, we strive to provide solutions that help businesses offer competitive benefits while reducing administrative complexity,” said Barry Gauch, VP of Strategic Alliances and Partnerships at isolved. “Partnering with 401GO enhances our 401(k) offerings, giving our customers an easy-to-manage, scalable retirement solution that supports employee financial wellness.”

With isolved 401(k), powered by 401GO, businesses can choose from three tailored 401(k) plans:

• isolved 401(k) Enterprise – A fully customizable plan for growing or mature businesses, featuring profit-sharing, dedicated investment support, and automated compliance tools.
• isolved 401(k) Small Business – A cost-effective, deferral-only 401(k) solution for businesses looking to comply with state mandates or offer an entry-level retirement benefit.
• isolved 401(k) Solo – Designed for sole proprietors, contractors, and single-member LLCs seeking a retirement plan with higher contribution limits and minimal administrative burden.

“401GO’s mission is to make retirement planning accessible and frictionless for businesses of all sizes,” said Dan Beck, co-founder and CEO of 401GO. “Partnering with isolved scales that mission, bringing our intuitive, automated 401(k) solutions to thousands of employers and employees through isolved People Cloud.”

The integration of 401GO’s cutting-edge technology within isolved People Cloud ensures a seamless 401(k) experience—from automated plan setup and payroll integration to built-in compliance and investment flexibility. Additionally, businesses leveraging this partnership can maintain their existing financial advisor relationships, making it a uniquely flexible and scalable solution.

About 401GO

401GO is a leading fintech innovator specializing in retirement planning solutions optimized for small and medium sized businesses. With a mission to make retirement planning accessible, practical and frictionless, 401GO offers innovative tools and services designed to help individuals secure their financial futures. Visit 401go.com to learn more.

About isolved®

isolved is the most trusted HCM technology leader, providing the best combination of software and services to meet the needs of today’s People Heroes – HR, payroll, and benefits professionals. From talent acquisition to workforce management to talent management, our solutions are delivered directly or through our HRO partner network to more than 7.7 million employees and 189,000 employers across all 50 states – who use them every day to increase productivity, accelerate decision-making and ensure performance, while reducing risk. isolved People Cloud, our intelligently connected platform, automates the entire employee experience by design, so that organizations can engage, empower, and energize their talent while freeing their People Heroes to exceed their goals and grow their careers. Visit https://www.isolvedhcm.com/ to learn more.

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Did you know there are over 150+ acronyms in the retirement industry? This is where an advisor is at his best!

How Advisors Are Helping Individuals

The average American’s net worth is held entirely in their home equity and their retirement account. A financial advisor can support people with so many other priorities, like caring for an ailing family member, dealing with a personal disability or tragedy, managing a job loss, recovering from a natural disaster, or traveling to support family in distant locations. The advisor is the lifeline, the quarterback/chef/conductor, the peace-of-mind maker, the retirement translator, who acts in the best interest of the client, answers the “when in doubt” questions that pop up, and so much more. 

Depending on the service model, a financial advisor may be able to assist with chat, phone, email and onsite meetings to make sure you maximize the value of the retirement plan benefits you offer your team. And, using experienced financial planning, advisors can take a holistic approach to client assets, helping both business owners and employees set proper goals and personalize their retirement experience.

4 Big Value-Adds

Including a financial advisor on your 401GO retirement account can benefit you in several ways.

Navigate Uncertainty: An advisor can help you avoid hitting the panic button during uncertain times. Too many workers buy high and sell low, or take early withdrawals or loans that come with penalties and fees. A good advisor will present other options.

Monetary Life Coach: An advisor can act as a financial life coach, helping you through the ups and downs and curve balls that life throws at you and your business.

Better Outcomes: Advisors, on average, provide better outcomes, higher satisfaction, more engagement, higher deferral rates, and, as a result, happier employees. 

Holistic Approach: An advisor can help you bridge the gaps between your wealth, health, and retirement needs in a personalized way, and they can do the same for your employees.

401GO Supports Advisors

401GO is the partner that makes retirement easier for all three parties. We help the advisor to do their work in a frictionless and fluid way, with contact details, investment fund access and review, participant notices and billing flexibility. We help the employer to set up their plan in just 15 minutes and to manage ongoing needs in an efficient and hands-off way. We give the participant an easy-to-navigate user experience with free financial wellness tools and no transaction fees.

There are over 300,000+ advisors in the U.S. Make sure you’re working with one that partners with 401GO.

The post The Value of Including a Financial Advisor within a Retirement Plan appeared first on Fast and Affordable 401k for growing businesses.

What are rollovers?

A rollover is a process to move your retirement funds from one plan (employer) to another. This is typically done in one of two ways.

The most common are direct 401(k) rollovers. This is when retirement funds are transferred directly from one institution to another. The account owner doesn’t handle the funds themselves during the process, which helps them avoid potential taxes or penalties.

In contrast, a 60-day rollover pays the distribution directly to the participant. The participant is then required to deposit the funds into a new retirement account within 60 days of receiving the distribution, otherwise the funds will be treated as taxable income. 

Why you should rollover your account

It’s important to understand the advantages of rolling over retirement funds.

• Centralized Management: Rather than having money in several different places, keep all your money in one spot, making it simple to manage and track your finances. 
• Cost Savings: When you leave a job, the recordkeeper of the former employer’s retirement plan may charge fees to maintain the account. Rolling over your savings can help you avoid these unnecessary charges.
• Ease of Process: Managing a single account reduces the unnecessary complexity of managing and monitoring investments in multiple accounts.
• Tax Benefits: Depending on the type of retirement account, you may be able to maintain tax-deferred status, ensuring you don’t incur unnecessary tax penalties. 

How to rollover your plan

The process can get complicated, but 401GO makes it easy. All participants have to do is go into the 401GO account and click on the “Rollover Funds” tab under “Account.” From there, just answer a few simple questions. We will provide them with a letter to send to the previous retirement account provider. Submit the letter and we will handle the rest. 

Prepare for your future even as your present situation changes by taking advantage of rollovers. As always, if you have any questions or concerns, 401GO is eager to help.

The post 401(k) Rollovers: Take Your Retirement With You appeared first on Fast and Affordable 401k for growing businesses.