Filed Under:Annuities, Variable

Big opportunities in small plan market

Looking to the small for a big opportunity...
Looking to the small for a big opportunity...

Financial professionals are increasingly finding time management a major challenge to conducting business in the micro-to-small retirement plan market, a recent series of surveys found.

The surveys were conducted following Guardian Retirement Solutions 401(k) G2 Summits: Gain and Grow. A national series of interactive educational events for financial professionals, the Gain and Grow Summits were attended by close to 270 people in eight major markets across the country over the last 60 days.

At the conclusion of each of the summits, 65 percent of survey respondents indicated that they saw a large opportunity in the micro-to-small plan retirement market with 100 percent of respondents reporting they were likely to take on more business in this sector once they locate and utilize the proper support partners and learn how to navigate the nuances of the market.

With more than 50 million Americans currently participating in employer-sponsored 401(k) plans and most people falling in the small business to micro market, it is easy to see why financial professionals view this segment as a large opportunity.

Although time management was the key hurdle that respondents identified as keeping them from conducting business in the market, resource management (39 percent), fiduciary responsibilities (27 percent) and government regulations (23 percent) were also cited as reasons for staying out. 

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.