Retirement Planning Takes Center Stage as Small Business

Retirement Planning is back in focus after 401k Specialist reported that Empower to Acquire Milliman Retirement Administration Biz for $340 Million.

The research highlights the importance of adviser support in retirement planning for small business owners. More than 9-in-10 owners would find greater value from plan advisors who can help with employee retention, executive compensation, and other business challenges.

The Expanding Role of Advisers in Retirement Planning

As small business owners face increasing pressure to stay afloat, employee benefit hurdles are part of the challenge. According to Voya Financial Inc., small businesses need support with retirement plans, as well as other benefits such as health insurance and employee assistance programs.

Notable women in financial advice, such as Robin M. Reich, have emphasized the importance of developing tailored tax-sensitive investment strategies for small business owners.

Recent Developments in Retirement Planning

Fiduciary Services Group (FSG) has acquired Pension Investors Corporation, a Florida-based third-party administrator with more than 40 years of experience serving businesses, advisors, and CPAs. This acquisition expands FSG's retirement plan administration platform and provides small business owners with more options for Planning.

Also, Empower has announced plans to acquire Milliman's retirement administration business for $340 million, further expanding the options available to small business owners for Planning.

The latest reporting keeps the focus on Planning. Readers now have a clearer view of why this update matters.

That fuller context gives the story a clearer place in the current news cycle. It also helps readers follow the next confirmed development with less guesswork.

Sources

For more information on Planning for small business owners, please visit the following sources:

• Small Business Owners Need Wider Adviser Support, per Voya
• Notable Women in Financial Advice: Robin M. Reich
• New Voya Financial Research Highlights Expanding Role Advisors Can Play to Support Small Businesses Beyond Retirement Plans
• Fiduciary Services Group Acquires Pension Investors Corporation, Expanding Its Retirement Plan Administration Platform