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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