I have had my share of compliance battles over the years so I definitely understand the issues. However it is currently my understanding that the compliance onus will be on the advisory firm that use our software. Every compliance officer has their own interpretations of ERISA but I think we should be able to satisfy their requirements.
Fees will be charged to the advisors on a per-participant basis, or should a company want to provide it directly we would of course accommodate them.
I think you generally will be better served talking to someone in person however most advisors don't touch participant personal finances outside the retirement accounts. Also I do think people are increasingly comfortable not interacting with people for their financial services. I personally find going into a bank or calling a banker on the phone an inconvenience. My bank doesn't even have branches or ATMs in my state. Thank God for deposit by phone.
Fees will be charged to the advisors on a per-participant basis, or should a company want to provide it directly we would of course accommodate them.
I think you generally will be better served talking to someone in person however most advisors don't touch participant personal finances outside the retirement accounts. Also I do think people are increasingly comfortable not interacting with people for their financial services. I personally find going into a bank or calling a banker on the phone an inconvenience. My bank doesn't even have branches or ATMs in my state. Thank God for deposit by phone.