Many pre-retirees experience anxiety about retirement, primarily fearing financial insecurity, yet a significant portion (71%) do not seek advice from their 401(k) plan providers. Despite this lack of engagement, there is a strong demand for personalized financial guidance, as participants value advisors who understand their individual situations and provide clear planning support.
For investors focused on retirement planning, the key takeaway is the significant opportunity to engage with pre-retirees who are increasingly seeking personalized financial guidance. Despite many not currently consulting their 401(k) plan providers, there's a strong demand for human advisors who offer personalized service and understanding of individual circumstances, paving the way for advisors to expand their client base by addressing this need.