From annuities to TDFs and QLACs, knowing different retirement drawdown approaches can help advisors better educate and prepare plan participants for life beyond the workplace.
Helping retired clients get over their worst psychological tendencies will require a mix of reframing, product streamlining, and personalization, among other strategies.
With a wider menu of managed accounts coming in the 401(k) space, advisors must be prepared with a process to determine when more personalized service is a good fit for participants.
