401(k) robo-revolution is underway

robo-revolution

Tech upstarts are making inroads into 401(k) plans and that’s bad news for some retirement plan advisers.

Such fledgling companies as Betterment for Business, ForUsAll, Human Interest and Vestwell, as well as more established players such as Financial Engines, are using technology to deliver services to plan sponsors and participants that traditionally are offered by human advisers.

“Where do you best service your client — plan design, product selection, education services? We become the rest of that equation around the adviser,” said Vestwell founder and CEO Aaron Schumm. Read the full article here.