PHILADELPHIA, PA—March 24, 2020—PCS Retirement, LLC, a leading provider of retirement plan solutions for financial advisors, announced today a new Communication Resource Center to ensure advisors who service retirement plans can efficiently communicate with plan participants during this volatile market connected to the COVID-19 pandemic.
“Times like these are when independent, professional financial advice is needed most; it’s critical to provide information to plan sponsors and participants to keep them informed about their retirement accounts, markets, and investing,” said Mark Klein, CEO of PCS Retirement. “Yet—many advisors don’t have a ready channel or easy way to communicate directly with plan participants. We feel it’s a critical time to offer this new communication service for both advisors and their plan participants.”
PCS Retirement’s Communication Resource Center provides links to financial, economic, and wealth management articles advisors can use to communicate with, and educate, plan participants, or they can create their own messages. Articles include timely topics such as “Certainty in Crisis” and “Historical Health Scares: What Does Coronavirus Mean for Investors.”
According to a recent study by the Employee Benefit Research Institute (EBRI), only 12 percent of plan participants indicate that their employer or retirement plan provider offers education on how to invest money in a retirement plan. Additionally, only 26 percent report having the information they need to determine how much to save for retirement.
“Plan participants are often underserved when it comes to getting help with their investments,” said Jordan Migneault, EVP of Client Experience at PCS Retirement. “Plan participants want education, advice, and guidance when planning for retirement. When a retirement plan has an advisor who can reach out to participants, it is very helpful at times like these.”
Using resource center functionality, an advisor can easily upload a message that can be posted on the participant website and/or emailed to plan participants. All messages must be compliance approved by the advisor’s firm. Advisors must be using the PCS Retirement recordkeeping platforms to take advantage of this important new service.
About PCS Retirement
PCS Retirement is one of the nation's largest independent and conflict-free retirement solution providers in the industry. PCS acquired Aspire in 2019 and together they provide recordkeeping services to 16,000 plans and 750,000 eligible participants representing more than $23 billion in assets under administration. PCS' comprehensive retirement solutions platform includes business development tools for financial advisors and a data-driven recordkeeping technology that supports all types of retirement plans [401(k), 403(b), 457, IRA including Payroll Deduction, Cash Balance, Defined Benefit, Non-Qualified], individual retirement accounts, and health savings accounts.
To learn more, visit https://www.pcs401k.com/