401(k) Specialist interviewed Daniel Satchkov of Rixtrema at the Excel 401(k) Conference and discussed whether disruption is happening in the 401(k) space. Below is a summary of the interview.
- Industry Disruption: Daniel Satchkov discusses the rapid disruption occurring within the 401(k) industry, emphasizing that businesses will either be the disruptors or face disruption, potentially being forced out of the market.
- Fiduciary Trends: The discussion highlights the importance of fiduciary responsibilities, noting that retirement plan participants have been historically overcharged. Satchkov stresses the need for scientific methods in fund and menu selection to ensure cost efficiency.
- Growing Awareness of Fees: Increased awareness among the public about overpaying fees, fueled by the ongoing debate around the Department of Labor rule and the proliferation of online tools, is driving significant change in the industry.
To watch the full video, click here.
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With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of 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.
