How to Get 401(k) Advisors More Focused on Client-Facing Activities
And where are we in the ‘democratization’ of participant data?
The video titled “How to Get 401(k) Advisors More Focused on Client-Facing Activities” is a brief interview conducted at the Excel 401(k) conference in Las Vegas. 401(k) Specialist speaks with Michael Zimmer of Fluid Technologies about strategies to help financial advisors spend more time in client-facing roles rather than being tied up in the office.
Key points discussed include:
- Client Expectations: Clients are increasingly expecting more direct interactions with their advisors, which requires advisors to find ways to reduce their time spent on administrative tasks.
- Technology Solution: Zimmer introduces “Utopia Advisor,” a cloud-based, licensable software that helps advisors by providing data from providers, allowing them to focus on client relationships. The software measures plan health and fund performance, providing alerts on potential issues.
- Data Democratization: Despite ongoing challenges, Zimmer emphasizes the importance of both advisors and record keepers sharing data to build better client relationships and outcomes. Advisors are keen on using this data to create personalized, branded experiences for their clients.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 401(k) Specialist and Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots. Experienced financial services content executive specializing in creative new media delivery. He joined the American Retirement Association in 2023 as Chief Content Officer, overseeing communications for the organization, as well as its sister organizations.
