OneDigital Retirement Adviser Discusses the New World of Plan Fees

With the new consumer attitude around fees, advisers are forced to change their fee structures to stay competitive.

With employees now willing to use the financial wellness program, it puts more impetus on the plan sponsor to have a well-structured financial wellness program to assist their employees. PlanSponsor collected a group of six subject matter experts on how best to build a customized financial wellness solution.

Clients expect more from their advisers than ever before for their fees. This rebalancing is causing advisers to reassess their fee structure. This shift is creating an excellent opportunity for growth. Many advisers are looking for new ways to keep their current clients while expanding their revenue opportunities with unique features within their business.

In the PlanAdviser article, “Adviser Industry Fee Pressures Focus," Greg Fiore discusses the new ways that advisers are shifting their focus to bring more value to their clients while also bringing in increased revenue sources.

Once you build that trust at the client level and provide that kind of service, [clients] are asking you to come back and do other things, like look at student loans, or health savings accounts [HSAs], or emergency savings. And that work can be more contract-based, paying project fees.
 
— Greg Fiore, Senior Vice President, OneDigital Retirement + Wealth

Read the full article here.

Want to read more from Greg Fiore? Check out his recent article: The Retirement Account You Never Knew You Needed and Didn’t Realize You Already Have.

Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.