The Latest In Financial Advisor #FinTech (June 2018)

small businesses
One of the biggest challenges in the world of employer retirement plans is that a huge portion of workers are employed by very small businesses, many of which find it too confusing or time-consuming to open a 401(k) plan… with the end result than a mere 5.6% of businesses with fewer than 10 employees have a plan in place. And unfortunately, the economics of small business 401(k) plans are so weak that it’s even a challenge for advisors to be sufficiently compensated for the administrative time and hassles it takes to set one up. In this context, it’s notable that “401(k)-robo-for-advisors” platform Vestwell has announced a partnership with Namely, an “all-in-one” payroll and HR benefits provider, that will integrate Vestwell directly into its payroll system, to make it easier for advisors working with small businesses on Namely to quickly and easily establish a plan. 
Read the full article here.