RFP News

Published on Jan 04, 2010

Two recent trends - the growing importance of 401(k)s in retirement planning and the volatile nature of the stock market - make it more important than ever for people to be vigilant about their 401(k) account. Unfortunately, for many people, the trends are having the opposite effect.

Unsure about what to do about their shrinking nest egg, many people are simply leaving their quarterly statements unopened. When employees do make changes, research confirms that they often buy at the top, and sell at the bottom, based mainly on past performance. Employers don`t often help the situation, as many provide little to no assistance with 401(k) investments, typically just basic "canned education" concepts. Companies instead rely on their retirement plan provider or mutual fund companies to assist their employees, which is full of inherent conflicts.

Kring Financial Management has developed a solution for investors who want to manage their 401(k) proactively, but don`t know where to start.

Kring Financial`s new 401(k) advisory service called 401k ProAdvisor will offer clients personalized advice on their 401(k), 403(b), or similar retirement plan on a quarterly basis. Clients just need to provide a summary of how their 401(k) money is invested, as well as information about their financial goals, time horizon, contributions, and their tolerance for risk.

Using that information, the 401k ProAdvisor service will analyze each available fund using multiple factors, and provide specific recommendations on what funds and amounts the client should buy or sell each quarter.

"We want people to realize they are still in control and to give them the tools they need to manage their 401(k) or similar retirement account," says William Kring, a CERTIFIED FINANCIAL PLANNER(TM) professional and founder of Kring Financial Management, a registered investment advisor in Atlanta, Ga. *

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