Time and resource management are key challenges tpreventing advisors from participating in the multi-billion dollar micro- to small-plan retirement market, say a series of surveys by Guardian Insurance & Annuity Co..

The surveys were conducted at Guardian Retirement Solutions 401(k) G2 Summits: Gain and Grow, educational events held in eight major U.S. markets over the last couple of months. The events were attended by nearly 270 financial professionals.

At the conclusion of each summit, 100 percent of participants said they were likely to take on more retirement business after learning how the right partners can help them effectively manage this business, Guardian said. Nearly 65 percent of survey participants believe there is a large opportunity in the micro- and small-plan 401(k) market.

More than 50 million Americans now participate in employer-sponsored 401(k) plans that have assets totaling roughly $3 trillion. Ninety percent of all 401(k) plans have less than $10 million in total plan assets and are sponsored by small businesses, and 80 percent of all 401(k) plans are in the micro market, holding less than $2.5 million in assets, according to Guardian.

Al Robertson, principal of Peachtree Planning Corp. in Atlanta Ga., who attended the summit in his home town, said Guardian has the ability to provide the administrative support services advisors need in the under $5 million 401(k) market.

Each of the events featured presentations from investment management firms, record keepers, independent third-party administrators, fiduciary support providers and financial behavioral experts.