The new volley of material outlining the reality of 401(k) management fees will soon be hitting participants, but is there a way to quantify that information and help participants understand - and feel more involved in the process?
Beverly Macy of Gravity Summit LLC tells Huffingtonpost.com that pushing the envelope and starting to use the social media tools normally more associated with younger people – Twitter, LinkedIn and Facebook – may be the best method of communicating with an increasingly web-savvy retirement-aged public.
After all, in a world where a recent AARP study demonstrated that 71 percent of participants had no idea that they actually paid 401(k) fees, getting a positive message out before the fee disclosures kick in may be a better way of retaining clients and encouraging more participation.
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